Global Economic Crisis: Organizational and Employee Responses
MetadataShow full item record
Organizations are complex adaptive systems in symbiosis with increasingly challenging, competitive and demanding environments. As a result, they face developments and demands based on increasingly information-based, knowledge-driven and service intensive economies. This requires speed, flexibility and continuous renewal. In addition to the already constantly changing environment and pressures to remain competitive, the global economic crisis created major insecurity necessitating immediate responses through rapid change. The authors conducted a case analysis including Western Australian organizations affected by the global economic crisis and the contribution of this research is twofold. Firstly, it provides insights and a deeper understanding of both organizational and employee responses. Secondly, emerged insights can inform effective processes and employee management during times of uncertainty and change, thereby making a practical contribution.Feedback provided three key findings. The first key finding elucidated that organizations responded through strategic, improvisation and HR related strategies. Furthermore, these responses were based on both internal and external pressures and standard management practices. A second key finding indicated that employees experienced a range of responses from limited to major uncertainty and effects. A third key finding highlighted that employees voiced both negative and positive responses regarding the way in which the organization managed their responses.
Showing items related by title, author, creator and subject.
Naude, Marita; Dickie, Carolyn; Butler, Bella (2012)The global economic crisis of 2008 created rapid social and economic change which shook the foundations of major economies and demanded immediate response; both organizations and employees had to adapt. This study, which ...
Chang, Joshua; O'Neill, Grant; Travaglione, Antonio (2013)The global economy is currently plagued by high government debt and sub-par growth. In times of economic duress, organisations depend on the goodwill and cooperation of employees, highlighting the importance of trust and ...
Nie, Katherine Su (2007)Numerous popular business publications and academic literature have highlighted that the Chinese cultural phenomenon of guanxi has made noticeable impacts on the economic efficiency in China’s economic transition. Despite ...