What we can learn from a challenging economy: six business lessons from the recession

Citation

Graham, J. (2010), "What we can learn from a challenging economy: six business lessons from the recession", Strategic Direction, Vol. 26 No. 6. https://doi.org/10.1108/sd.2010.05626fad.003

What we can learn from a challenging economy: six business lessons from the recession

Article Type: Abstracts From: Strategic Direction, Volume 26, Issue 6

Graham J.Journal for Quality and Participation (USA), July 2009, Vol. 32 No. 2, Start page: 20, No. of pages: 3

Purpose – Presents six lessons that companies can learn from the recession. Design/methodology/approach – Highlights how the recession has meant that companies have had to scrutinize their working practices in order to improve efficiency. Provides six lessons on how companies can learn from the current state of the economy; drawing on corporate examples demonstrates how cutting prices can kill business and argues that companies need to understand that tough is normal. Puts forward how gaining the right vision, giving consumers a reason to have confidence and improving the customer’s experiences are all important. Originality/value – Outlines how companies can view the recession as a positive experience.Article type: General reviewISSN: 1040-9602Reference: 39AC262

Keywords: Corporate strategy, Managerial strategy, Recession