The business cycle has a profound impact on the fortunes and fate of many businesses large and small — and the employees and investors who depend on them. This summary offers a comprehensive guide to strategical- ly and tactically managing the business cycle.

This summary shows you how to manage not just the business cycle and industry cycles, but also today’s unprecedented level of macroeconomic tur- bulence. It also shows you how to align every facet of business strategy, tac- tics and operations to reflect changing business conditions — so you can ride with the business cycle — not get run over.

You’ll also learn how to tailor your marketing messages and product lines to the business cycle “seasons;” manage production and inventories to antici- pate recessions, recoveries and sector rotation; exploit necessary “soft spots” to negotiate better deals; use tactical hedging and long-term contracts to insu- late against inflation; prepare for layoffs before a recession; hire earlier in an upswing, when you can “cherry pick” better staff at lower wages; and how to time strategic acquisitions, divestitures and major capital investments.

No matter what markets you serve, this summary can help you increase your profitability — every day, every quarter, every year.