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As the economy has emerged from the last economic downturn, managers are once again reflecting on how they managed downsizing during the downturn.
In the wake of the current economic downturn, managers must learn how to use the business cycle for competitive advantage.
In a downturn, managers need to be warier of risk, knowing that one mistake can be a killer.Because a downturn is less forgiving than a boom, it will test managers' comfortable assumptions.
But the last time Northrop Grumman Corp. was on the verge of a downturn, managers worried that if they let employees go, they would leave either the state or the industry and wouldn't be around to rehire when the time came.
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As in previous economic downturns, middle managers, sales representatives and industrial workers are bearing the brunt of the pain.
Faced with the financial downturn, corporate IT managers are shying away from new technology and opting for the tried and true, says Vernon Turner, an analyst at IDC.Meanwhile, competition from other technologies such as Intel's new 3GIO, which is targeted at desktop and low-end servers threatens Infiniband's glory.
With the economy in a downturn, corporate travel managers are using strategies from other frugal eras to save money — pushing advance purchases of airline tickets, moving meetings to cheaper destinations, skipping trips that are not likely to generate revenue or requiring employees to refuel before returning a rental car.
"It is being interpreted positively that they've stopped the downturn," Kurt Brunner, portfolio manager at the Swarthmore Group in Philadelphia, said.
From the point of view of managers, the downturn has advantages.
This makes sense, and the test for these funds will come when the next big public market downturn occurs and fund managers feel pressure to deliver cash to their investors.
But perhaps that is the big idea to come out of the current downturn: that good management is not a matter of adopting short-term fads, but of managers being consistently honest, frugal and prepared over the longer term.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com