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Abbey Properties Limited in Recession - Dissertation Example

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Without any doubts, out of the few businesses, which were hit hardest by the recent recession, housing and real estate businesses were amongst the top of this list. Important here to note is that this is true for two important reasons. This has been the historical trend that just before the recession, real estate prices hit their peak…
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Download file to see previous pages Model of Entrepreneurial Strategies used by Abbey Properties Limited
The literature review mentioned four possible entrepreneurial approaches that small and medium sized firms in United Kingdom use during a recession. Despite the fact that the case of Abbey properties limited did not appear to be fitting completely in any of these four categories, it was somewhere between the “Migrating Geese” and Lambs to Slaughter” model with a greater inclination towards the former. Without any doubts, Abbey was far away from being the “Hibernating Beers” since it did not shut its operations. In fact, the recession hit the United Kingdom in the second quarter of 2007 and the company’s financial statements did not show any signs of a recession for the year 2007. In fact, there was no need for an emergency up until the start of 2010.
Even that the company was faced with a period where there were no sales at all for the company, it did not shut its operations or went into the hibernation mode. In fact, there are also no signs that the company had fired any employees, shrank in terms of size, shut down its offices or any others. Furthermore, the evidence suggests that the company did not also fit the description of “Sensible Squirrels”. In fact, it is important here to note is that many small and medium sized organizations in United Kingdom and United States are least likely to fit into the description of “Sensible Squirrels”. ...
In fact, there are also no signs that the company had fired any employees, shrank in terms of size, shut down its offices or any others (Landstrom, pp. 160, 2009). Furthermore, the evidence suggests that the company did not also fit the description of “Sensible Squirrels”. In fact, it is important here to note is that many small and medium sized organizations in United Kingdom and United States are least likely to fit into the description of “Sensible Squirrels”. Many of these companies operate on a day-to-day, week-to-week or monthly basis (Buckley, pp. 69-71, 2011; Stokes, Wilson & Mador, pp. 26, 2010). This is exactly what differentiates them from large organizations. Big corporations and companies are more likely to have a vision, mission, clear and well defined strategy with long-term plans. On the other hand, small and medium sized organizations are more likely to look at the short term opportunities and challenges and due to their limited, scope, financing, funding, resources and others, they will restrict themselves to the “wait and watch” zone (Weale, pp. 5, 2009; Stokes, Wilson & Mador, pp. 26, 2010). This explains why every year, thousands of small and medium sized business go bankrupt or they announce closure because of their short-term mentality. Gone are the days when businesses had the chance to have short term or reactive mindset. The macroenvironment is quickly changing that firms, which take more than a while to react, find themselves having outclassed by their competitors in every possible way (Arestis, Sobreira & Oreiro, pp. 201-202, 2011). The interviews with the Director and General Manager of Abbey Properties did indicate that the ...Download file to see next pages Read More
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