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Navigating a Downturn: Strategies for Business Resilience

Tom Spencer

Although it is fairly common for a successful business to generate 80% of its profits from 20% of its products, relying heavily on a small number of products, services, or markets exposes a business to significant risk. Diversify Revenue Streams One fundamental strategy for business resilience is to diversify revenue streams.

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A New Quest for Consultancy: Transitioning from Just-in-Time Logistics

Tom Spencer

For instance, in the lead up to the 2008 Great Recession, McKinsey actively promoted mortgage securitization , alongside EY which was involved with Lehman Brothers’ accounting fraud allegations [pdf]. The 2008 meltdown highlighted harmful practices in the financial sector, such as credit default swaps and collateralized debt obligations.

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Main Risks of Aerospace Engineering Projects: How to Implement Wise Risk Management into Your Organization

Epicflow

For example, welding can be dangerous for workers; assembling an air- or a spacecraft involves moving large-scale parts from one facility to another, working on the top of an air-/spacecraft, which increases chances for accidents and/or employees’ injuries. . Chances of accidents. Volatility in the geopolitical and economic environment. .

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Increasing Profitability In Times of a Crisis: How the Right Approach to Project and Resource Management Can Help Improve Business Outcomes

Epicflow

The survey conducted by the Economist Intelligence Unit shortly after the global financial crisis of 2008 has revealed that effective project management has helped business organizations to maintain their competitiveness during the recession.

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Centralized Decision Making Helps Kill Bad Products

Harvard Business

Killing products isn’t easy. Engineers and managers toil for months, often years, to conceive, develop, and launch new products. In our five-year study of global handset makers , we found that most firms pull products when they turn out to be obvious disasters such as the Note 7. Know the big picture.

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Transformational Leadership: Changing Culture to Fuel Financial Success

Organizational Talent Consulting

For example, a hierarchical corporate culture type is proven to decrease an organization's ability to innovate (Cameron & Quinn, 2011). Examples include what is displayed, office layouts, uniforms, identification badges, and discussed and not discussed. Examples include a company's vision and values or mission statement.

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Successful Project Delivery in Aerospace and Defense: Success Criteria

Epicflow

For example, a project manager may consider a project to be successful when it’s completed without a delay and budget overrun. At the same time, customers who want the developed product to meet their requirements to the full may turn a blind eye to a project delay and/or cost overrun if it’s necessary to deliver the product they need.