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Managing Through Turbulent Times: The 7 rules of crisis management by Anthony Holmes

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15. The longer view

In the early stages of the business cycle managers plan for the longer term and see the short term as a period of development towards long-term goals. In maturity these long-term goals have been achieved and often people’s horizons tend to shrink increasing to the shorter term. Sometimes a position of indecision is reached in which it seems inappropriate to set new long-term objectives because, intuitively, it is felt that the current trend cannot continue beyond the short term but preparation for turbulent times and the establishment of policy of preservation is thought to signal weakness. Hence the formulation of strategy in maturity is conceptually difficult and explains why so many managers enter turbulent times inadequately ...

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