Uncertainty's the word

Publications and consulting firms continue to philosophize on the level of uncertainty surrounding the current recession and how to dig our way out of it. Just this week, McKinsey released the latest edition of the McKinsey Quarterly, which addresses these issues, among other high-minded theories. An interview with Hugh Courtney, economist and former McKinsey associate principal sheds some light on different levels of risk in strategic decision-making, while an article by McKinsey directors Lowell Bryan and Diana Farrell focuses on the uncertainty that surrounds the recession, and how leaders can work around that to make themselves more resilient and more adaptable to the economic factors that are out of their hands.

Consultant News' columnist Mick James released a piece on consultants' roles in this mess, saying that in the short term, they'll need to deliver "instant, survival based support to keep clients afloat," as wary clients will be looking for immediate results. And in the long term, consultants will need to rethink their business model in an extra-cautious business climate, much like the one we saw in the post-dot-com era.

Good thoughts, everyone, and keep 'em coming. But it's the practical implementation that's tricky, especially in the face of increasingly gloomy news. Early this week, the National Bureau of Economic Research announced that the current recession actually started in December 2007. And if the downturn continues beyond April, as many predict it will, it would be the longest recession since the Great Depression. And you know times are really tough when Google cuts its afternoon tea time.