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By Patricia O'Connell and Jena McGregor
Until the current crisis, there were certain immutable truths of business that executives could count on: Salaries go up, not down. The place for government in business is at the margins. Bonuses lead to better performance.
But the rules are rapidly being rewritten. Companies are cutting pay along with workers. Understanding the intricacies of government could become as critical a path to the corner office as mastering the balance sheet. And rewarding overly ambitious goals can lead to reckless risk.
As executives grapple with these new challenges, they're trying to figure out the right strategies to adapt. BusinessWeek surveyed some of its contributors to its online Managing Channel, along with other leadership thinkers, to get their views on what has changed.