Interesting article from Nancy Koehn, Harvard Business School in WSJ on how companies have weathered the storm before...
Heinz in 1875 - build trustworthy business relationships, kept employees with delayed wages, collect AR - accounts receivables.. And create and feed new markets - from horseraddish and pickles to ketchup!
Proctor & Gamble in 1930s - Market, market... "We are going to market the hell out of our products, and we're going to do it on radio," ... soap operas
IBM in 1932 - invested $1B in R&D when everyone else were cutting back..
"Everybody else in this game is slicing R&D. Watson is actuallyemploying more people, building more machines and still telling thefactory that even if he can't sell them, to keep adding to inventory" until 1935 with the social securities act the data processing market opened up..
and about leadership: "We have to be thinking -- as many are already -- about the opportunities that lie nestled within the turbulence all around"
Been there, done it... lessons from history in WSJ of working smarter