February 2009
The road to recovery
It seems like a lifetime ago now, but this time last year things didn’t feel too bad. We were all set for a slowdown, but it looked like being a gentle readjustment. Instead, we now find ourselves in a full-blown recession, with banks receiving billions in bail-outs, credit virtually impossible to come by, big brand names going bust, and more and more redundancies announced by the day.
When cash is tight and redundancies are on the cards, leadership becomes even more demanding - which is where this issue of Edge comes in. With articles on everything from creative cost-cutting measures to strategies to beat the bad times, it’s all you need to survive – and indeed thrive – in the current economic climate.
Don’t forget, Edge online is exclusively for ILM members so have your username and password handy…
Features
As the recession becomes a stark reality, a mood of austerity has seized the nation. For many firms, this spells disaster, but one company is cashing in on the frugal vibe – budget hotel chain Travelodge has seen bookings soar as people tighten their belts. MD Guy Parsons tells Jane Lewis why the no-frills model is the future
When the economy takes a turn for the worse, managers tend to focus on making sure their organisation is ready to weather the storm, forgetting that they have to be personally prepared to ride out the bad times too. Sue Weekes examines some strategies to make yourself recession-proof
It’s an oft-repeated mantra that an organisation is only as good as its people. Cruel irony, then, that the first thing to be sacrificed in an economic downturn is often the staff. It might seem the obvious option to save money, but cutting your workforce isn’t always the best way to steer a business through a recession, as Helen Mayson finds out
Columns
Loss leader
Nobody likes to lose things, be it a game of cards or your wallet in the back of a cab. And the same is true in business. Steve Martin explains how the prospect of losing something can affect your staff and customers – and exactly what you can gain from understanding the psychology of loss
Put a spring in your step
After the chill of winter, spring is almost upon us, and the season’s hottest trends in daywear are all about the silhouette. Whether it’s a suit, shorts, an all-in-one or a pair of crops that take your fancy, Katie Greengrass explains how to make them office-friendly
Forecasting failure
It’s economic doom and gloom, but some firms will always flourish in a downturn. Amateur fortune teller Stewart Gowans just hopes he’s picked the right ones