Responding to Recession: A Report for Royal Bank of Scotland
Illuminas recently conducted a study for Royal Bank of Scotland – Corporate and Institutional Banking division, to understand how UK Corporate businesses were responding to market changes as a result of the economic environment
Over 300 interviews were conducted with business leaders from a range of organisations with an annual turnover in excess of £25m.
The report highlights four fundamental shifts which look likely to impact UK corporates in the medium term. Firstly, an underlying theme of greater risk management has resulted in, for example, more emphasis on forecasting and tighter management of working capital. Similarly, cost reduction and prudence have become new watchwords for most key decision makers. The pressure of the recession has also forced businesses to refocus on core competencies and identify where true value lies. Finally, and in contrast to previous recessions, there are stark differences in behaviour and attitudes between internationally and domestically focused companies.
Download a copy of the report