'The art of discipline' by ProQuest


In an interview, Patricia E. Sprigg, President/CEO, Carol Woods Retirement Community, talked about how Carol Woods has navigated the recession with a strict adherence to preparation and regimented operation. Sprigg said they went from an investment portfolio of $39 million to $27 million virtually overnight like everybody else. But that said, she thinks Carol Woods, because of their strategic planning process, and because they never balance their budget just on the back of that particular year, they probably weathered the storm a lot better than most. Sprigg flattened the organization years ago, which means all of their divisions work together as one team on the budget. They had initiatives coming out that were very small, such as doing away with all of the disposable products in the cafe, which means you have to bring your travel mug from home. That saved them $40,000.

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