News: Performance Management
Management skills 'tested' by recession
05 November 2008
The effectiveness of management and leadership skills training will be thoroughly tested during the economic downturn, according to the British Chambers of Commerce (BCC).
David Kern, economic advisor to the organisation, issued his observations as he commented on the prospects of London's new multi-billion pound Westfield shopping centre.
Acknowledging that the capital's largest shopping mall would probably fare better in more "dynamic and buoyant" circumstances, he nonetheless asserted that well-managed businesses cannot fail to do well.
"I think the recession tests management," he remarked.
"The shopping area [is] likely to succeed but it is more challenging for the managers in question," he added, pointing to the "different environment" created by the credit crunch.
Mr Kern concluded that "life goes on", before reiterating his belief that sound leadership skills will see retail managers through the worst of the downturn.
Costing £1.7 billion to build, the Westfield centre is anchored by leading British retail names including House of Fraser, Marks and Spencer, Debenhams, Next and Waitrose.
