HBR's 10 Must Reads on Managing in a Downturn (with bonus article "Reigniting Growth" By Chris Zook and James Allen)

How to Bounce Back from Adversity

by Joshua D. Margolis and Paul G. Stoltz

THINGS ARE HUMMING ALONG, and then: A top client calls and says, “We’re switching suppliers, starting next month. I’m afraid your company no longer figures into our plans.” Or three colleagues, all of whom joined the organization around the same time you did, are up for promotion—but you aren’t. Or your team loses another good person in a third round of layoffs; weak markets or no, you still need to make your numbers, but now you’ll have to rely heavily on two of the most uncooperative members of the group.

So how do you react? Are you angry and disappointed, ranting and raving to anyone who will listen? Do you feel dejected and victimized, resigned to the situation even ...