Cutting costs or re-building business?

Steb Fisher

European Management Journal, 1993, vol. 11, issue 1, 74-79

Abstract: Many businesses are fighting for survival in depressed market conditions. It is over-simplistic, and strategically wrong, to concentrate on shareholder interests only by cutting costs and making people redundant. Steb Fisher believes that employees are an undervalued stakeholder. The right measurement framework would reappraise their value to the organisation. Businesses under pressure should install new measurement systems, allow employees to participate in decisions involving sacrifices, use more positive psychological incentives for coping with surplus labour, and use vision to improve morale.

Date: 1993
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