How business survival strategies compare during recessions versus COVID-19

Interesting slide shows about the world Slideshow World by [ArcaMax](?ezine=782&r=960-ofEaWCxJM2zZqf_Yv0kkBpLM7PW3v8h6SZtIJ9JDOjMyNzAwODM2NDpKOjIxODE4NDg6TDo3ODI6Ujo5MzA1NzE6Vjo0Mg) [How business survival strategies compare during recessions versus COVID-19]( Dom DiFurio [ How business survival strategies compare during recessions versus COVID-19 ]( [See full slideshow »]( Only some companies that survived the COVID-19 crisis can use the same blueprint for the next economic downturn. To compare business strategies for surviving the recent COVID-19 crisis and a typical recession, altLINE analyzed research from the World Bank, data from the Federal Reserve, and news reports. A recession is usually defined as two back-to-back fiscal quarters in which the total amount of all goods and services declines. The COVID-19 pandemic began with a deep but brief recession in the U.S. economy, unlike any that preceded it in modern history. The ultimate effect was like flipping a light switch off for a couple of weeks and then turning it back on again. As local officials announced restrictions on which types of businesses could stay in operation, many businesses feared the worst from the unknown virus. Companies and workers in sectors including travel, hospitality, entertainment, and events were hit especially hard with an abrupt halt to most social and in-person activities. As uncertainty reigned, the U.S. GDP actually increased 12% in the two years spanning the fourth quarter (Q4) of 2019 through Q4 2021, a huge economic win compared with the 1918 influenza pandemic. During the two years following that influenza outbreak, experts estimate, global economies contracted 6%. But a recession, much like the impact of COVID-19, is also "a high-pressure exercise in change management," as Harvard Business Review contributing editor Walter Frick observed. And that supreme uncertainty enveloping COVID-19 was felt not only by employers but their employees, too. Visit thestacker.com for similar lists and stories. [Tweet It]( - [Facebook It]( Sponsor [ Binge Celebrity Gossip! ] Binge Celebrity Gossip! Get the most interesting celebrity news daily with the new Binge Gossip newsletter. You'll be the first to read about the most interesting events from the personal lives of the rich and famous. [Subscribe Now Instantly]( -- From the ArcaMax editors More Slideshow World from ArcaMax.com - [15 metros where home improvement spending is rising the fastest]( - [Reading and math proficiency are at historic lows. Here's a closer look at who's falling behind]( - [8 statistics that explain the rural doctor shortage]( [Click To Unsubscribe]( | [Customer Service]( | [Privacy Policy]( | [California / Nevada Privacy Info]( 1706 Todds Lane, Box 311, Hampton, VA 23666 Copyright © 2023 ArcaMax Publishing [Facebook]( [Twitter](/ArcaMax)