Herman Group: 10 Things To Prepare For Turnaround

ByJohn S. McClenahen It may sound as if it's going to be one of those humorous "Top Ten" lists that late-night television talk-show hosts are so fond of. But Roger E. Herman's roster of 10 things companies can do now to prepare for the economic turnaround is very serious. Among other things Herman, CEO of the Herman Group, a Greensboro, N.C.-based consulting firm, advises executives to re-engage with their employees, check how the company is perceived by potential new hires, and prepare contingency plans for both a slow recovery and a very fast one. He also urges review of corporate financing, specifically whether it can deal with lagging cash flow accompanying a surge of new orders.