Looking forward in recession : Turning threat into opportunity

Purpose – Reviews the latest management developments across the globe and pinpoints practical implications from cutting‐edge research and case studies. Design/methodology/approach – This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings – Mention the word “recession” and it is a safe bet that anxiety and fear will be the response in many boardrooms. And that is under normal circumstances. When the mother of all economic downturns comes along, we are talking an entirely new ball game altogether. Yet that is precisely the situation facing a business world coming to terms with housing market crashes, financial turmoil, plunging stock markets and massive job losses. High‐profile victims like Citibank and AIG serve to show that no organization is immune from the threat of the hurricane‐like recession currently exerting its stranglehold around much of the globe. Left in its wake is a world characterized by rescue packages, low‐cost borrowing and levels of government intervention never witnessed before but likely to be part of the business landscape for some time yet. While the return of normal credit flow may start the patient's recovery from this massive cardiac arrest, the consensus remains that things will never quite be the same again. Practical implications – Provides strategic insights and practical thinking that have influenced some of the world's leading organizations. Originality/value – The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to‐digest format.