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The Risk of Not Investing in a Recession
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By Pankaj Ghemawat
Winter 1993
Reprint 3424
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Volume 34, Number 2, pages 51-58, 8 pages
Primary Topic: Financial Management
Secondary Topic: Corporate Strategy
SummaryManagers who are struggling to make investment decisions during this recession may find it hard to take financial risks. Ghemawat argues that you must consider the competitive risks of not investing as well as the financial risks of investing. In his 1991 book, "Commitment: The Dynamic of Strategy" (New York: Free Press), he describes this problem in general. Here, he tackles the problem of balancing financial and competitive risks when it becomes most difficult at the bottom of the business cycle. |
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