Coping with the downturn

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Many companies may find some of the articles in the latest e-issue of the McKinsey Quarterly to be helpful, such as ‘Market fundamentals: 2000 versus 2007‘ and ‘Learning to love recessions‘.
Even more useful perhaps is the article on ‘Preparing for the next downturn‘ – it can be too late to think about escaping the quicksand when you’re already up to your neck. There’s an intriguing little twist to this one though – one of the examples ...

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Strategic incompetence continued

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… and now we see Merrill Lynch in the same trouble, so perhaps they could answer the same question we put to Citigroup.

Meanwhile, here in the UK, we are told that every household in the country is going to have to stump up Stlg 2,000  to prop up another spectacular failure of strategy, this time at Northern Rock – a bank whose breath-taking brilliance took them to a leading position in the mortgage market.

Again, what makes me especially angry is ...

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Strategic incompetence

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Interesting to see that Citigroup may take a further multi-billion dollar hit as a further consequence of the sub-prime lending fiasco. Now nothing makes me angrier than strategic incompetence, not because of the harm it does to investors – they know they are putting their money in the hands of people who may flush it away – but because of the ordinary folk who get burned.

Now a few people walked away from all this with nice multi-million dollar bonuses, when ...

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Oh no – not ‘change’ again !

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The latest from McKinsey Quarterly is yet another fire-hosing about ‘driving radical change’, ‘transformation without crisis’, etc. etc. Radical change is very rarely needed, most often destructive, and only appropriate in the most dire circumstances – which applies to very few organizations. And don’t come back with ‘Well you’ve got to transform yourself before some mega-upheaval happens to you’ – it probably won’t, and if it could do, then you’d be better looking to adapt than transform.
At least they ...

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