Managing in a downturn: looking beyond the crisis

Article Type: Abstracts From: Strategic Direction, Volume 25, Issue 8

Quelch J.A., Jocz K.E., Gulati R., Nohria N., Hartman N.A., Dhar V.,Sundararajan A., Capron L., Kaiser K., Gratton L., Wiesenfeld B.M.Financial Times (UK), 6 February 2009, Start page: 1, No. of pages: 9

Purpose – Part three in the four part series on managing in a downturn. Design/methodology/approach – Examines how the economic crisis has affected consumer behaviour; provides suggestions on how marketers relate to consumers during the downturn and looks at the strategies being adopted; argues that marketers must plan for when the economy recovers. Investigates how companies can make cuts in their R&D projects without damaging their firm’s innovative capacity; provides examples of how companies have managed to do more with less. Suggests that maintaining investment in IT is crucial if companies are to weather the economic downturn; reports on what makes for an effective IT investment strategy and argues that cutting back on IT will cost more than it saves in the long-term. Explores the area of mergers and acquisitions; considers that the current economic downturn provides an opportunity for company to rethink their M&A strategy. Looks at what companies can do to motivate their employees during difficult times and suggests that the recession provides the opportunity for companies to adopt new innovative management practices. Originality/value – Provides a series of articles on how management can prepare for the future.Article type: Viewpoint ISSN: 0307-1766 Reference:38AF517

Keywords: Corporate strategy, Economic conditions, Human resource management, Information systems, Managerial strategy, Mergers and acquisitions, Recession, Strategic management