RECESSIONS ARE A VERY REAL PART OF LIFE. BUT FEW MANAGERS HAVE ANY TRAINING AT ALL IN WHAT TO DO AND HOW TO DO IT WHEN THE MARKET TURNS DOWN. IT IS UNFORTUNATE, BECAUSE DOWNTURNS ACTUALLY OFFER AN OPPORTUNITY TO GAIN MARKET SHARES AND REPOSITION THE FIRM TO DO WELL WHEN THE ECONOMY RECOVERS, AT LEAST FOR THE FIRM IMAGINATIVE AND FLEXIBLE ENOUGH TO TAKE ADVANTAGE OF THE OPPORTUNITY. THIS PAPER OFFERS ADVICE ON HOW TO TAKE ON A RECESSION. IT ADDRESSES SUCH ISSUES AS HOW ONE CAN GO ABOUT MAKING THE ORGANIZATION READY FOR CHANGE, PREPARING A PLAN FOR MAKING THE CHANGES NEEDED, AND WHO SHOULD BE RESPONSIBLE FOR THE PLANNING. IT GIVES ADVICE ON HOW ONE SHOULD KNOW WHEN TO ACT, SINCE IT IS OFTEN NOT EASY TO IDENTIFY A RECESSION FROM A QUIET MONTH. THE ADVICE IS SUPPORTED BY CASE STUDIES OF FIRMS WHO HAVE BEEN SUCCESSFUL NOT ONLY IN GETTING THROUGH A RECESSION, BUT IN RECONFIGURING THE BUSINESS
| Number of Pages : | 8 |
| Published : | 06/01/1990 |
