Prospects: Corporate Culture and Entrepreneurship
Since the beginning of the credit crisis in the fall of 2008, companies both large and small have struggled with sharp declines in revenue and decreased lending by banks. This has led, predictably, to the rise in unemployment throughout the United States and Europe; in particular in the U.S. the unemployment rate increased from 4.4% in 2008 to 9.5% in 2009. The credit crunch has also led to a steep decrease in mergers and acquisitions (M&A) reflecting the difficulty corporations face in raising capitals in the current environment. During the first half of 2009, the value of worldwide M&A transactions declined to $1,140 billion, representing a 35% decline compared to the first half of 2008. This session will address: 1) How businesses can best cope with crisis? 2) How can opportunities and innovation be realized in a time o f cost cutting and staff reductions? 3) What do businesses need to do in order to be more resilient in the face of future crises?