Date Added: Oct 2009
The financial crisis has created a structural break that shifts many of the competitive parameters that the corporate strategies were built on. Hence, companies have to comprehensively reassess and often redesign their strategies, both to survive the crisis, and to benefit from the next economic upswing. The financial crisis originated from problems in the financial sector in the U.S.A. and the U.K. The contagion spread through the global financial sector affecting banks in numerous other countries, and causing an unprecedented credit squeeze as inter-bank lending came to a virtual hold.