REPORT Essay Example | Topics and Well Written Essays - 2500 words

REPORT - Essay ExampleWhilst at the time the foodstuff Oracle forecast was for growth for 2008 of between 1% and 1.3%. Now some 7 months into the year, and a series of adjustments later the mainstream forecasters are starting to come around to our forecast for 2008. (Walayat, 2008) The above statistics clearly shows that the accredited crisis is to a greater extent serious than anticipated. Even most of the expert economists were failed to predict the current crisis and hence most of the organizations could not control any precautionary measures to tackle it. As per British chamber of commerce unemployment may cross to a greater extent than 3 million as Britains manufacturers, retailers and service industries feel the full effects of the downturn. Most of the economists now reckon that the current recess may be worse than that happened in 1990s. The UK economy may be change magnitude by as oft as 2.9%, which may result in the risk of deflation this year. (Inman, 2009)Real soi l sector is one of the most affected areas in Britain also like most of the other countries because of the current crisis. The field of operations prices have almost reached an all time low in the recent past. Archer predicted house prices would fall another 15%, while Capital Economics said it could be as much as 20% as the cost of the average home headed for a 50% fall from its circular in the summer of 2007. (Inman, 2009)Most of the organizations are now searching for organizational strategies and change management theories to persist during these dipping economic period. They are now studying the external environment, analyzing their organizations competitive advantages, implementing new strategies, ever-changing the existing management styles, studying organizational culture and efficiency to counter the problems caused by the current recession. The notable British economist, Herbert Spencer, who first coined the phrase survival of the fittest to summarize Darwins revolutio nary