Recovery of Small Businesses Facing Failure: Lessons from the Experience of Large Businesses - Umasuthan Kaloo - 9786299869504 - Umasuthan Kaloo

Large businesses grow from small businesses and both are destined to face failure sooner or later. The reasons for failure can include unresolved problems relating to cash flow, excessive borrowings, expanding too fast, evolving changes in technology, changes in market expectations, changes in government policies, productivity, managing employees, growing competition, and governance. Large businesses have survived and grown from small businesses by taking timely remedial steps when faced with failure in the short term and by taking timely preventive steps when anticipating failure in the medium to long term. This book analyses the recorded experience of 10 different large businesses covering a range of industry sectors in the US, Europe, Japan, India, and Malaysia when they faced a mix of life-threatening problems and how they took timely remedial and preventive action to escape failure. The experience of these large businesses is recast as lessons for small businesses to be guided by, within the limits of their own resources.