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  • How Businesses Can Survive Recession

    How Businesses Can Survive Recession

    Published: Aug. 13, 2014

    Marketing professor Vijay Mahajan explains his research on the strategies used by family-owned companies that have outperformed non-family corporations during recessions.

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    • Quote 2
      Wills said on Aug. 25, 2014 at 6:27 a.m.
      your three points regarding family business success during recession times probably sum it it up. Thanks for a very informative article. Andrea
    • Quote 2
      Darragh McCurragh said on Aug. 17, 2014 at 9:36 a.m.
      The eeriest thing that ever happened me during my consultancy career was at a big Fortune100 company which had a "bad" quarter. From "on high" all projects were ordered to go into hibernation if they were not absolutely mission-critical. That meant to axe the freelancers, like me, as the first line of defense. Which us freelancers do not necessarily mind as there is as a rule another company ramping up at the same time in a similar field. However, while I was mothballing all the project deliverables etc., I happened to sit across from a young up-and-coming project assistant who was talking via IP phone with his boss in the US, the general projects manager. What the guy was doing was deleting line after line from the master sheet of projects. And the longer they did this, the happier both seemed to get at the "savings" the EXCEL sheet started adding up. I couldn't help to overhear the name of the project I played a lead role in, so I knew all about that one. And ... drum roll ... a figure got deleted, "savings" got added up. I then realized they were actually deleting projected costs ... however, ours had already been 90% spent. If many more large public companies are run by such sleight of hand I do not wonder at the above differences in performance.
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