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How to manage the recession

Authors
Publisher
Lunds universitet/Företagsekonomiska institutionen
Publication Date
Keywords
  • Recession
  • Economics
  • Technology
  • Management
  • Management Of Enterprises
  • F√∂retagsledning
  • Management
  • Business And Economics
Disciplines
  • Economics

Abstract

In knowledge based industries, how has the changing economic climate in the United States altered hiring and training programs? Technology related jobs have faced a shortage of educated workers in the past and this trend was expected to continue in the future (See Waiting for Superman). With this situation in mind, has this sector followed the stereotype of the recession by laying off workers and experiencing lagging sales, or have they found new ways to manage through the recession and make it an opportunity for growth. My aim in this study is to compile quantitative data from various sources to paint an economic picture of the technology sector from the years 2007 through 2010; once this is completed and these figures are analyzed, they will be compared to economic benchmarks (such as the Dow Composite Index and the S&P 500) to compare their results. Growth rates will also be reviewed for these companies in key markers such as revenue growth and employee headcounts. Once analysis is completed and statistical data have provided concrete figures on which to base a deduction (as per the neopositivist approach this paper takes) a look at the management tactics that were used by these companies to achieve said results will round out the conclusion. By looking at the documented growth or decline of these companies figures, determining how management handled such situations will shed light on the potential ways in which management can handle a recession. Change factors affecting an organization can have significant consequential effects (See Newell et al 2009; Sandberg and Targama 2007), though these are not always negative, even when initially perceived as such. Framing an incident such as the recession in the right way, along with encouraging adaption and innovation during a change can enhance the quality of the people within the company, their work, and in doing so, improve profitability.

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