21st century is not a time to ‘batten down the hatches’. Instead one needs to embrace the changes and manage the business through these times of unprecedented business uncertainty. It is suggested that managers revisit their business plans, undertake some scenario planning and also look for new opportunities as competitors scale back. It is important to assess the businesses vulnerabilities as well as ensuring that all aspects of the credit control system are functioning effectively.
September 2008 has witnessed a period of unprecedented economic turbulence and instability. This uncertainty is affecting the entire globalized economy; it is affecting people all across the world. Years of consistent economic growth in the 21st century have given way to rising unemployment, increased costs, reduced disposable income and a greater number of risks. There is a sense of helplessness businesses are currently experiencing.

The Critical Business Factors are:
• Product
• Service......

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Title: Strategic Management
Approximate Word Count: 2844
Approximate Pages: 12 (250 words per double-spaced page)

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