“For virtually every business in the United States, the implications of economic change are enormous. The rapidly changing and more uncertain environment not only has made corporate decision-making and planning more difficult, but also has significantly increased business risks. Operating successfully in this new environment will require a very different approach to business management. It involves more, rather than less, attention to external factors, as well as new priorities and strategies and a sharply increased focus on risk management.”[i]
[i] Chimerine, Lawrence, “The New Economic Realities in Business,” Management Review, January, 1997, p. 13.