Moving to a new normal
As the World fitfully rebounds from the Great Recession caused by COVID-19, many managers are confronting a “new normal” the prospect of slow growth for many years to come. Managing in this new era will be different and much will rest on how CEOs and their executive teams are to stray from their comfort zone and challenge their traditional ways.
For the past two decades it has been possible (if not always achievable) to be successful simply by riding the market growth. For most activities those day are over.
Companies that recognize the opportunities and modify their business models can actually rebound and grow. To cope with these challenges, executives will need to question, reassess and redefine their managerial thinking. They will have to examine the context in which they make decisions. Some basic beliefs and received managerial wisdom will need to be challenged and changed.
For the past two decades it has been possible (if not always achievable) to be successful simply by riding the market growth. For most activities those day are over.
Companies that recognize the opportunities and modify their business models can actually rebound and grow. To cope with these challenges, executives will need to question, reassess and redefine their managerial thinking. They will have to examine the context in which they make decisions. Some basic beliefs and received managerial wisdom will need to be challenged and changed.
