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Business managers caught in a recession must choose selectively where they want to win. The author says cash-strapped organizations struggling to set priorities should start by considering at least four things: Their customers, employees, cash flow and long-term vision. "Managers today must do the same or more with less, and they know it," says author, who holds the Continental Grain Professorship in Finance at Thunderbird School of Global Management in Glendale, Arizona. "Budgets will be cut, staff will be trimmed and job duties will increase. The managers who survive must prioritize what they do."
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