The Economy, Roller Coasters and Management’s Responsibility

We are witnessing one of the unique economic periods in our current history. Hopefully this will be our great one time economic event such as our Grandparents witnessed the Great Depression. In many ways this trip has been similar to a ride on a roller coaster: the ups and downs, the creaks and groans of the rails, the screams and fears of the riders.

When I work with my TEC groups or the participants in my seminars across the country I remind individuals of our responsibilities as managers. Is the economy bad – yes. Have many companies and individuals been hurt – yes. Have fortunes been won and lost – primarily lost – yes. However, too many people are guilty of a victim mentality towards the current recession.

This recession is just one more hill on the roller coaster. Have we had other steep hills – yes. Will there be more – yes. Hang on and enjoy the ride. The lesson that we all should have learned is one of preparation. By the way, if your company did not invest at least 3-4 hours in planning during 2007 or 2008 and ask, “what if the economy goes to heck in a hand basket?” then your company’s managers were negligent. If the strategies did not address a scenario similar to what we have experienced, then shame on them.

It’s time for a white-knuckle ride: Make the tough decisions, support your company’s employees, serve your customers and partner with your vendors. I am afraid that there are a few more drops and turns on this rollercoaster ride before we come to a rest.

© 2009 Jim Lindell and TEC
(Note: Jim is a TEC Chair of 2 Groups in SE Wisconsin)