Managing Business Organisations During Periods of Downturns: A Systematic Literature Review

Abstract

The economic crisis has compelled several organizations to closely monitor their operations, financing, marketing, and strategies. Mostly a downturn end up into recessions and causes a lot misery for many people over a period of time. It also forces people to  change in the consumption patterns and in the manner their spend .The situation in a period of recession becomes worse  by the day owing to anticipated  new environment as well as change of  consumer needs and  attitudes.  The essence of this review is to analyze management in a downturn vis-à-vis survival strategies and effective leadership during a recession. Despite challenges that come with a downturn there are several opportunities that present themselves during the bad period and businesses take advantage by developing new strategies and application of effective leadership.

Keywords: Downturn, Survival Strategies, Recession, Effective Leadership

DOI: 10.7176/PPAR/12-6-07

Publication date:August 31^st 2022