The current economic environment has most people scrambling for answers. It just "feels" different than other recessionary periods. Many are concluding that we are entering a new era and that a different business landscape is emerging. Leadership in this new economic environment is going to require a different kind of strategy forced to the surface by altered assumptions about globalization and its infinite tentacles: finance, manpower, product development and so on.
As always, ingenuity, leadership, creativity, initiative and innovation will win out. Winners always figure out new ways to win (Lance Armstong is a perfect parable of that principle). New thresholds of performance will again be established, then surpassed. That's the way of business in America.
But....in the meantime, where do you turn for answers to the many questions that have to be answered?
I have found some of the following articles to be helpful in shedding light on where we are, what will be required of corporate leadership in the future and how we manage things now. Check them out.
The Economy is Worse that You Think (WSJ): http://online.wsj.com/article/SB124753066246235811.html#mod=djemEditorialPage
Leadership in a Permanent Crisis (HBR): http://hbr.harvardbusiness.org/2009/07/leadership-in-a-permanent-crisis/ar/1
10 Trends You Have to Watch (HBR): http://blogs.harvardbusiness.org/hbr/hbr-now/2009/06/post-crisis-trends.html
The End of Rational Economics (HBR): http://hbr.harvardbusiness.org/2009/07/the-end-of-rational-economics/ar/1
In addition, VisionLink broadcasts webinars every month on topics that are key to managing compensation issues in the present economy. Two upcoming events are particularly relevant:
Compensation and Performance in Recessionary Times (click here to register)--July 16
How Do I Create a Competitive Advantage with My Compensation Program? (click here to register)--July 28
See if you don't find some of these resources helpful.
"Keep the faith." There is much to look forward to.