Managing in a downturn

Citation

(2009), "Managing in a downturn", Strategic Direction, Vol. 25 No. 7. https://doi.org/10.1108/sd.2009.05625gad.005

Managing in a downturn

Article Type: Abstracts From: Strategic Direction, Volume 25, Issue 7

Stern S., Mihov I., Echo E., Sull D. Financial Times, 23 January 2009, Start page: 1 No. of pages: 9

Purpose – presents the first, in a weekly four-part series, dealing with management of the economic downturn. Design/methodology/approach – reports that for many managers, the recession has come as an unwelcome, and unfamiliar, surprise; looks at how younger managers, who have only experienced the boom years, are seeking out advice that will help see them through the turbulent times. Provides a series of articles from leading business school experts and commentators on their views of the current downturn. Examines the context of the economic crisis and, adopting a historical perspective, looks at what lessons can be drawn from previous recessions, focusing, in particular, on Scandinavia and the Japanese crises in the 1990s. Looks at those policies that may be effective, and argues that managers should see the downturn as an opportunity to make changes and implement improved practices. Illustrating with corporate examples identifies how some companies made the right hard choices during a downturn. Originality/value – offers strategic advice on how managers can best ride out the economic storm. ISSN: 0307-1766 Reference: 38AE849

Keywords: Change management, Corporate strategy, Economic conditions, Japan, Managerial strategy, Organizational change, Recession