Running a successful business in a downturn requires an appreciation of two distinct roles, managing the day-to-day operations and building for the future. Everyone needs to know the importance of both ‘hats’ – and when they’re wearing each one. By Andrew Lester

Some companies do well, both in good times and bad. They not only withstand the onslaught of economic recession, but they emerge stronger and fitter. Unsurprisingly, they also make the right choices when economies are growing. How do they do it?

Irrespective of the state of the economy, companies which regularly beat the competition have an ingrained ability to do two conflicting things at the same time: they run the day job effectively and efficiently, and they make the right choices on how to grow. These require different, conflicting management styles: relentless detailed operational control, as well as having an eye for the main chance. Being great at both things is essential to long-term managed success.

“Companies which regularly beat the competition are able to do two things at the same time: they run the day job effectively and they make the right choices on how to grow.”

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