Most Western economies are facing a recession in 2009. Organizations are downgrading forecast earnings, and stock markets around the world are at record lows. Now more than ever, boards are placing an emphasis on improved corporate governance and cost reduction. It is easy, however, to focus on short-term survival in the current market and make decisions that destroy value in the long run. Organizations not only need to weather the current storm, but also to come out of the eye in a stronger, more stable position.