June Update from David Butcher
In a business school like Cranfield we talk to many managers in many places each and every day, and for close to nine months you have all been saying much the same thing, which is that the current economic climate gives new meaning to the expression 'we live in interesting times'. I can therefore be reasonably certain that most of you reading this are faced with significant business problems (probably euphemistically referred to as 'challenges' in your organisation), and of course, that you are all trying to take advantage of the genuine opportunities these 'interesting times' create.
Cost-cutting will almost inevitably be part of your solution, which of course presents you with the paradox of a short term answer at the risk of long term damage to your business. Reductions in your training and development budget and the attendant moratoria on all but 'essential' travel illustrate the dilemma well, and doubtless you will have already recognised this - everybody does. But have you also considered that this may be more than a problem of a failure to invest in your people for the longer term? How much have you thought about whether investing in development now may provide the elusive business solutions you need at this moment? In asking that I'm not suggesting that you should avoid cutting the T&S spend, but instead have in mind the kind of results that can come from selective development for a few well-chosen people. I'm thinking in particular of the special value that comes from attending open enrolment executive programmes - the challenge to think innovatively, to learn about solutions that are already working in different businesses and industries, to discover new levels of energy and leadership drive - the kind of experience which of course we in business schools argue is always important for you, above all now. If you have been contemplating this question, I'd be most interested in your answers, better still to help you to reach them.