CORPORATE RESPONSE TO RECESSION (2008-09)

This study addresses how the well managed and top ten fortune corporations too have been experiencing turbulence in their business activity during recession. The well built systems and business practices in the Corporate are unable to address the recession that has been set in globally. The investigation is done from the angle of Macroeconomic influence over the business cycle and the corporate responses to such stimulus. The existing academic research and the wealth of knowledge of the corporate leaders do not give a framework for the corporate to handle this crisis. This study makes an attempt to examine some of the basic issues concerning corporate responses to recession and their efforts towards revival of business cycle. The magnitude of the issue is very vast and there is no single solution applicable for the corporate to handle the crisis. Impact of recession on businesses has put tremendous pressure on the HRM and business practices of the Organization. This study investigates the top 10 most admired companies in the world which have robust environmental scanning system that must reveal their system adequacy in managing their business entity.