Managing in Turbulent Times
Chapter One
Managing the Fundamentals
In turbulent times, an enterprise has to be managed both to withstand sudden blows and to avail itself of sudden unexpected opportunities. This means that in turbulent times the fundamentals have to be managed, and managed well.
In predictable times, such as we lived through in the twenty-five years between the Marshall Plan and the OPEC cartel, the fundamentals tend to be taken for granted. But the fundamentals deteriorate unless they are being managed carefully, consistently, conscientiously, and all the time. Indeed, the greatest danger to most enterprises todaybusinesses, non-businesses, and public service institutions alike-may not be public hostility to business, environmental constraints, over-zealous regulations, energy, or even inflation. It may be a hidden deterioration in the fundamentals. After a long period of relative tranquillity there is always the danger of unexpected and hidden weak spots in the areas everybody takes for granted, everybody considers boring routine.
Fundamentals do not chan ... read full excerpt from: Managing in Turbulent Times ebook
