Thriving Under Adversity: Strategies For Growth In The Crisis And Beyond
Source: Boston Consulting Group
Faced with the worst recession since the 1930s, many companies are reacting as bears do to winter - by hibernating. They are shrinking production capacity, downsizing their labor force, reducing discretionary spending, and conserving cash until - they hope - the economy picks up again. This is a tried and tested strategy - and it works if a recession is short, if the external world returns largely to its former state, and if competitors also take refuge from the economic winter by "Hibernating."