Management Strategies and Styles in Economic Distress

The book navigates the complex, multifaceted, and multi perspective issue of managing complexity under conditions of economic adversity and high, deep seated dynamism. The overarching theme of six chapters in the collection is that surprising though it may seem and sound, conditions of economic distress, call for unique management strategies and styles, the mastery and execution of which bring hefty rewards. A case study of Japan Inc is used to highlight the fact that winning management styles under conditions of economic adversity are required at both the micro level and national level. the Global financial crisis ravaged like wild fires through the United States, Europe, and emerging economies, including South East Asia. The chapter reviews literature on the causes, course, consequences and remedial policy initiatives, which to this day, are still being implemented.The paper makes an argument, that financial restriction not full-fledged financial liberalization is what can create profits as well as stability, which is why the role of the state henceforth should never be that far from keeping constant watch of the goings of so vital a sector in the name of allowing unfettered entrepreneurial spirit to take its natural course. In line with the theme of economic distress, the book attempts to identify the key factors that underpin the success of firms in conditions of economic distress. Such factors encompass astute management with the skill and experience in a variety of competitive moves and maneuvers; adoption of low-cost -low price strategies; more use of scenario planning rather than mere replication of past company actions; sufficient liquidity to exploit opportunities availed by economic downturn; and exploiting the advantages of knowledge management. In the…