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« What Enterprise/Corporate/Business Performance Management is not. | Main | Better Practices for closing the IT/Business alignment gap »

February 21, 2008


Ron Dimon

Anecdotal Evidence:
From The March 17, 2008 edition of Fortune Magazine (interview with Steve Jobs):
"We've had one of these (economic downturns) before, when the dot-com bubble burst. What I told our company was that we were just going to invest our way through the downturn...we weren't going to lay off people...And we were going to keep funding. In fact we were going to up our R&D budget so that we would be ahead of our competitors when the downturn was over. And that's exactly what we did. And it worked. And that's exactly what we'll do this time."

Ron Dimon

From the March 24 edition of the Wall St. Journal (p. B1, "In The Lead," by Carol Hymowitz)
In "Executives Find Ways to Keep Moving Ahead Despite Economic Fears," Carol gives some additional examples of management lessons to help navigate the coming months. The first event was right in line with this blog post: "Seize opportunities while you can." That is what J. P. Morgan Chase CEO Jamie Dimon did when his team acquired Bear Stearns for $2 a share. Here's the lesson: "The urge is to become more cautious, but for executives, 'the best companies approach down-turns as a chance to get ahead of competitors,' says Steve Schaubert, a senior partner at Bain. 'While rivals may be retreating, they purposefully and quickly find ways to gain market share: by improving customer service, investing in new products or improving their supply chain.'"

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