Read the assigned Forbes article and summarize in at least 100 words.
In the article Bill Conerly Senior talks about how the current economic situation is extremely valuable to people with good foresight. Right now we are heading towards a recession in late 2023 or early 2024, according to Conerly. This means that the time period we are in right now is the time were companies need to prepare and take advantage of the upcoming recession.
Conerly also spoke about the fact that we should have the recession sooner rather than later. He said that we still have the possibility to push the recession away in time, but the actions that needs to be taken will increase inflation instead. This will most likely just make the next recession hit harder than the current one will.
Reflect on what we learned in the course, find at least one chapter in the textbook where we discuss the related topic, and explain how the chapter(s) is related to the reported event in the article. Do this in at least 100 words.
What Conerly brought up in the article reminded me of chapter 10 from our book. Chapter 10 Industry Cycles: Be Prepared for Trouble in Your Sector of the Economy talked about the topics that Conerly brought up in the article that is happening right now. In the chapter, just like he did in the article, he talked about what he thought managers need to do for their companies right now and as the recession hits us. As far as preparation goes, Conerly thought that the first step is to create a contingency plan. The steps should be clear and consistent but most importantly it needs to be specified for each industry.