Business strategy (how a small sample of English businesses revised their business strategies in light of the financial crisis and recession)

Citation

(2011), "Business strategy (how a small sample of English businesses revised their business strategies in light of the financial crisis and recession)", Strategic Direction, Vol. 27 No. 5. https://doi.org/10.1108/sd.2011.05627ead.010

Business strategy (how a small sample of English businesses revised their business strategies in light of the financial crisis and recession)

Article Type: Abstracts From: Strategic Direction, Volume 27, Issue 5

Lowth G., , Prowle M. and , Zhang M. Financial Management (UK), November 2010, Start page: 31, No. of pages: 2

Summarizes the results of a study, funded by the UK’s Chartered Institute of Management Accountants (CIMA), to review how a small sample of businesses in the East Midlands of England, considered and revised their business strategies in response to recessionary pressures caused by the financial crisis and recession in the UK. Reports some of the strategy changes which were undertaken where: many of the respondents considered it important to drive down their fixed cost base to sustain any competitive advantage they might have; no company envisaged immediately relocating their research and development (R&D) outside the UK; companies with overseas manufacturing operations were typically expanding their activities abroad; all the respondents considered innovation and new product development to be important; some service-based companies saw a key part of their revised business plan as improving operational efficiency; and although some companies were adopting aspects of the investment approach, the extent of their investment was affected by the availability of capital funds and the increased level of caution about speculative investments. Article type: Viewpoint ISSN: 1471-9185 Reference: 40AA014

Keywords: Economic depression, Management strategy, Organizations, Recession, Strategic management, United Kingdom