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The impact of the credit crunch and the global economic slowdown is challenging even most robust institutions. Those charged with the governance of some of largest private sector companies have had to focus on short term measures to address the risk of corporate failure. Leaders of public sector institutions must confront challenges around maintaining and improving service provision when the resources necessary to deliver services may not be made available. The dilemma public and private organisations face is how best to manage recovery in the short term, while not losing sight of the need to maximise shareholder value and to maintain and develop services over the medium and long term.
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