Home About IUP Magazines Journals Books Archives
     
A Guided Tour | Recommend | Links | Subscriber Services | Feedback | Subscribe Online
 
HRM Review Magazine:
Managing Business During Recession : Survival of the Fittest
:
:
:
:
:
:
:
:
:
 
 
 
 
 
 
 

This article essentially highlights the cause for recession, need for mapping and how it could be predicted in advance. It emphasizes on the HR perspective of retaining employees, implementing job rotation, training them on new skills and creating a better platform for change management during recession to keep the business going. The in-depth analysis of forecast, progressive planning and managing the business with combinational factors is discussed with the remedy to emerge unscathed. It opens a new dimension to the positive alternative growth induced by HR.

 
 
 

Survival of the fittest—the short mighty mantra holds good for all times. This famous phrase of Herbert Spencer applies, not only to biology, but also to business management. A recession is the paralyzed state of economy, inflation and cash flow. All corporate organizations in the world have to survive tough times in order to exist in the business market and get going to overcome the next tide. Owing to fitness, some organizations may take over others; some may hop with minimal operations, while some may be washed out. Tough measures are taken at the higher level to withstand the brunt of the economy. All steps prescribed for sustained running need not be necessarily bad, but predominantly some of the practices are seen are emergency operations.

In an organization, crucial remedies are evenly applied on all fronts leading to a cut in infrastructure, operations, human resources, diversifications and acquisitions. The immediate impact of the downbeat of the economy echoes as the gradual downfall of new projects inflow. This subsequently leads to surplus employees, unoccupied infrastructure and reduction in operations which appear redundant. The strategic parameters are effectively applied and organizations, in spite of this, announced layoffs, partial closure and sometimes total closure.

 
 
 

HRM Review Magazine, Change Management, Combinational Factors, Human Resources, Strategic Parameters, Performance Management System, Economic Recession, Business Management, Cost Cutting Measures, Operational Cost.