Successfully guiding a corporation through competitive markets can be a complicated venture in the best of times. But when tight credit and high costs erode an organization’s revenues and customer base, once routine issues can become urgent and problematic. In today’s economy, even well-run organizations can face significant challenges to their fiscal health. This article is the first in a series designed to address some of the issues that corporate directors face as they steer their companies through the “zone of insolvency.”