SEVEN
BUSINESS CYCLES AND ECONOMIC INSTABILITY
Watch the little things; a small leak will sink a great ship.
—BENJAMIN FRANKLIN
Businesses operate best when they have a clear picture of their target customers, their competitors, and the major demographic, economic, social, technological, and political forces affecting the broad business environment. Conversely, businesses operate poorly when many of those elements that deeply affect business performance are random and unpredictable.
There are two great injectors of risk and uncertainty into business decision making. One is the persisting presence of business cycles in capitalist economies. The other is the rising level of market turbulence in this new era of globalization and rapid technological ...
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