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Crisis Management in a Small Business: A Tale of Two Solicitors′ Firms

Helga Drummond (Lecturer in Human Resource Management and Organization Behaviour at the University of Liverpool.)
Elizabeth Chell (Alcan Professor of Management at the University of Newcastle upon Tyne.)

Management Decision

ISSN: 0025-1747

Article publication date: 1 February 1994

1924

Abstract

Explains why, of all organizations at risk in the current economic recession, small businesses are the most vulnerable. Confirms that downturns are typically rapid and the prognosis poor, and that the emotional and financial hardships of personal bankruptcy are often severe. Challenges the popular management literature which urges decision makers to follow their intuition, on the ground that intuition is frequently biased and therefore likely to result in the wrong choices. In contrast to the intuitive response to crisis, which is contraction, seeks to demonstrate, through two case studies of small solicitors′ firms, why expansion, although it is apparently the more risky option, may be the best means of survival.

Keywords

Citation

Drummond, H. and Chell, E. (1994), "Crisis Management in a Small Business: A Tale of Two Solicitors′ Firms", Management Decision, Vol. 32 No. 1, pp. 37-40. https://doi.org/10.1108/00251749410050688

Publisher

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MCB UP Ltd

Copyright © 1994, MCB UP Limited

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