Making A Key Decision In A Downturn: Go On The Offensive Or Be Defensive?

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Executive Summary

In an economic downturn, decision-making is distilled in to a clear-cut choice: Do you go on the offensive, aggressively pursuing growth, or do you become defensive, protecting your revenues and profit margins? The decision is determined by a firm's competitive position and ability to counteract income-statement and balance-sheet stresses caused by the downturn.

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