Resizing the Organization Managing Layoffs,Divestitures, and Closings Maximizing Gain While Minimizing Pain

The corporate world is living through some interesting and challenging times. In today's world, in order to survive or remain competitive, corporations must continue to assess their organizational strategies, structures, and practices. Changing and adapting to external pressures and market shifts is now (and will continue to be) an imperative. It is a must; survival depends on it.As a consequence, organizations restructure, downsize, re-engineer, merge, seek financial protections, or form alliances. This can only be done if organizations remain agile, proactive, fresh, and promote innovative managerial practices. The key to success here seems to be what executives think and do. What actions they take and why. Therefore, executives—while seeking, developing, and executing managerial strategies—must be guided (one would think and want) by sound proven principles of leadership, organizational change, and human resource practices.