Briefly:

The economic recovery will be gradual for most companies, fragile for many, and largely dependent on the ability to learn from past mistakes, Ernst & Young says in a new report.

Picking the brains of more than 500 partners from around the globe, the ‘Lessons from Change’ report states that the overwhelming consensus is that in order for business to thrive, they must utilize the lessons they have learned during the recession and adapt their business model for the future.

“We may be back from the economic brink but we’re certainly not back to normal,” says Jeff Charriere, partner, Ernst & Young. “Not all of the lessons learned from change will be new, but they are taking on new importance. Integrating those lessons into strategies now can make the difference between just surviving the recession, and actually thriving in the upturn.”

In the report, the eight primary performance goals that are recommended to bussienss are: re-evaluate your business model, optimize the flexibility of your operations, maximize capital availability and deployment, examine your market reach, accelerate your decision-making and execution, revitalize the way you manage risk, strengthen your management talent and rebuild your stakeholders’ confidence.

“Even as the economy improves, it’s still not business as usual. Companies need to push new ideas further than ever before,” stressed Charriere. “Cash is still critical, but it’s not the only factor. Businesses that focus on learning from the past and establishing a new agenda are most likely to succeed. Thriving in this challenging business climate requires flexibility, creativity and imagination — qualities that can be nurtured only by a diversity of ideas and viewpoints.”

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Changes at Manulife Mutual Funds

Manulife has announced that next March, Gerald Cooper-Key, the co-manager of the Manulife Mawer World Investment Class, will be leaving his post as co-manager of the fund.

Cooper-Key will continue to maintain an active role providing broad input as chair of Mawer’s Global Equity working group.

David Ragan will continue as co-manager of the Manulife Mawer World Investment Class. Jim Hall, Mawer’s dector of research, will join Ragan as co-manager of the fund.

(10/30/09)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.