According to a study of executives at 570 global companies released by Ernst & Young LLP, 86% of executives say they accelerated cost reduction programs, 52% sped up their restructuring plans, and 38% pushed the button on a "significant employee reduction program" over the last year.
That's in the short term, but for the long term, executives were pretty evenly split between expanding into new geographies, increased use of strategic alliances, acquisitions and speed to market, and divesting noncore business. "Companies that maintain a sustainable business model through the current downturn will not only survive the downturn, but will emerge stronger and in the best position to take advantage of new growth opportunities as the economy improves," said Kevin Cole, E&Y's Americas accounts and business development leader.
In the study --
Opportunities in adversity -- E&Y compares its most recent study with one done at the height of the crisis. It goes on to talk about branding strategies, cash positions and whether we really are past the worst of the recession. -
Baz HiralalGet to the study
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And the winners are...
