Final answer:
Managers' failure to comprehend and adapt to change is a common mistake during turbulent times. They should be flexible, open to feedback, and willing to anticipate and adapt to future situations. Prioritizing ultimate success and contributing to true sustainability is crucial.
Step-by-step explanation:
One of the biggest mistakes during turbulent times is managers' failure to comprehend and adapt to the rapid pace of change in the world around them. Lack of critical thought and unconscious assumptions about the future based on recent history often contribute to this mistake.
It's important for managers to understand that markets are in charge and that global competition without global government penalizes countries that impose additional costs on their citizens. Managers should also be aware that short-term sacrifices for long-term benefits can be challenging for individuals, especially in uncertain times.
To navigate turbulent times successfully, managers need to be flexible, open to feedback, and willing to anticipate and adapt to situations that may arise. They must prioritize ultimate success and contribute to true sustainability to avoid contributing to failure.