Turbulence is nothing new. As I mentioned earlier, Recessions serve a valuable purpose and when I’m not looking forward and planning to do things differently, I find myself going back to the trusted and true sources of knowledge and wisdom to help me put things into perspective – a practice I find much better than reading the current commentaries from most journalists! Peter Drucker is one such source. What personal action points can you draw from this mini-masterpiece?

When it rains manna from heaven, some people put up an umbrella.
Others reach for a big spoon.

The manager will have to look at her task and ask, “What must I do to be prepared for danger, for opportunities, and above all for change?”
First, this is a time to make sure that your organization is lean and can move fast. So this is when one systematically abandons and sloughs off unjustifiable products and activities – and sees to it that the really important tasks are adequately supported.
Second, she will have to work on the most expensive of resources – Time – particularly in areas where it is people’s only resource, as it is for highly paid, important groups such as research workers, technical service staffs, and all managers. And one must set goals for productivity improvement.
Third, managers must learn to manage growth and distinguish among kinds of growth. If productivity of your combined resources goes up with growth, it is a healthy growth.
Fourth, the development of people will be far more crucial in the years ahead.

ACTION POINT: Get rid of unjustifiable products and activities, set goals to improve productivity, manage growth, and develop your people.

This is from Page 76 of ‘The Daily Drucker: 366 Days of Insight and Motivation for Getting the Right Things Done’ A wealth of insights one page at a time. Required reading in my view!