As the global economy spirals into recession, the reduction seems to be on the agenda for many high-tech companies. Our research, however, suggests that conventional downturn strategies many not serve them well. McKinsey analyzed the performance of about 700 such companies during contractions in markets around the world during the past two decades. We found that the turmoil accompanying decline significantly reconfigures the high-tech landscape. About half of the companies that entered these downturns as leaders -Top 20 percent of the composition as a backward, when the economy regained momentum. Our study highlights three main findings for managers.
First, they must fully understand the dynamics and the likely impact of reducing. Income ( and will continue ) declining, but the contours of the crisis will differ by subsector. Second, managers must know how to liquidity problems may affect the activity of. Compared with other industries, the credit situation is stable in high-tech. The problems are growing throughout the supply chain, however, particularly among distributors and contract manufacturers and foreign markets. These changes may ultimately affect the activities of many companies. Third, the high-tech managers need to play offense, acting to strengthen the balance sheet and improve the competitive position of. Our analysis shows that the establishment of clear moves.
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