“Managers always get cautious during recessions. The only ideas that appeal are how to cut costs. Gone is the interest in innovation and building the top line. Of course, this is an attitude that prolongs the downturn for the overall economy, and it slows the rate at which particular companies emerge from the fiscal funk. The best companies, like General Electric and McKinsey, accelerate innovation during recessions. They know that their people have a little more time to think, and they encourage them to think boldly and creatively.”

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