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Strategy - Strategy in Times of Economic Downturn and Recession 

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Battle Plans for a Downturn	On the battlefield of a major economic downturn, do you go on defense, hunkering down until the battle ends? Or offense, attacking first and fast to capitalize on competitors' weaknesses? The right answer is not to answer — at least not until you've examined all competitive positions.
Beating the recession: Buying into new European consumer strategies	European consumers have already cut back their spending in response to the economic downturn, and signs of an even deeper retrenchment are present. Businesses need to tune into and sharpen their awareness of evolving consumer attitudes and tactics if they are to survive the recession and position themselves for economic recovery.  2009
Managing With Measures In A Downturn	In a downturn, measurement needs to be enhanced – rather than slashed to save cash – in order that management can apply a broad spectrum of essential data to help them gain vital insights, take informed decisions and accelerate performance improvements.
Offense is the best form of defense	A recent Bain survey of leading tech companies reveals that most companies are still reacting defensively to the recession-and only a few are aggressively preparing to go on the offense or actively planning disruption. It is these select leaders who will not just survive the downturn; they will race ahead of the competition as the economy improves. 2009
Steady as you go: Managing human capital in an economic downturn	While the prospect of a recession in the US is having an impact on markets globally, it’s important to remember that economies endure their inevitable downturns, and innovation, positive change and fresh opportunities often result. But the onset of financial hardship puts human-capital strategies to their ultimate test: Are people an investment to be managed or an expense to be reduced? Rather than overreacting to bad economic news, companies that stay the course in tough times and bring solid solutions to their workforce challenges will be better positioned for the long term. 2008
Strategies and Processes for a Changing Economy
The Tough Get Going	There's nothing like a recession for sorting the sheep from the goats: smart companies treat a downturn as an opportunity for innovation
Turning Downturns Upside Down	How to Reposition for Growth During Soft Markets. The rules for developing a valuable business portfolio are the same in good times as in bad.
Upbeat thinking in downturn times	In the face of recessionary forces, managers and organisations are not powerless.
Winning in a Down Economy	What actions can we take today that will make our company a better one to do business with in this economy? 2008
Winning in a Downturn  - Six Actions to Take Now	In Summer 2008, BCG compiles this list of actions for companies to plan ahead for a recession.

Recession Marketing

Martin Thoma has written a series of three articles addressing recession marketing.

The first one - RECESSION LOOMS: INCREASE YOUR MARKETING BUDGET! - explains why it is wiser to increase your marketing budget during a recession than to decrease it. This article is from May 2008.

The second article - WHAT TO DO NOW - is from June 2008. Here Martin explores some characteristics of recessionary psychology and what you can do about them. This is about questions like
What tactics or approaches might you deploy given the changing economic climate and consumer psychology? Is there anything about a down market that recommends a shift in strategy or tactics?

The last article of this series is from January 2009. It is titled THE MOST IMPORTANT BUSINESS TO MANAGE NOW: YOUR HEAD. Martin writes 'Reflecting on the state of things brought to mind that there is one other critically important thing to manage in this economy: our own state of mind. ... Scary times call for disciplined thinking on the part of brand leaders. The state of the economy calls for an intentional state of mind. Steering a brand through choppy waters requires a firm hand on the tiller, commitment to first principles and the ability to swallow a lot of your own fear in service to the brand.'

Literature

The Upside of the Downturn: Ten Management Strategies to Prevail in the Recession and Thrive in the Aftermath
by Geoff Colvin
Geoff Colvin, one of America’s most respected business journalists, says even the scariest recession has an upside. The best managers know conventional thinking won’t help them win in these tough times. They’re taking smart, practical steps that will not only keep them strong, but will also distance them from the pack for years to come.
The dozens of top-performing leaders Colvin interviewed reject the common view that slashing costs and firing employees are all that matter. They see the recession as a rich opportunity to reinvent their organizations and lay the groundwork for future growth.

Recession Storming: Thriving in Downturns through Superior Marketing, Pricing and Product Strategies
by Rupert M. Hart
So you've cut costs, now what? You just can't cut your way to greatness and "Recession Storming" will get you out into action with new strategies to squeeze more revenue from your customers, increase margin by resisting price pressure, change the game with recession-specific product-offerings, and expand into new markets. There are over 100 marketing strategies from 80 companies from 5 recessions and 40 industry downturns.

The Return of Depression Economics and the Crisis of 2008
by Paul Krugman
In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States, and the world as a whole, up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken to contain the crisis, and turn around a world economy sliding into a deep recession.