Effective management 'key to business success'

Companies with high-quality managerial staff are more likely to survive the recession, it has been claimed.

According to David Kern, chief economist at the British Chamber of Commerce, well-managed enterprises have greater resources, more assets and are therefore more able to cope with a fall in business.

He continued: "In a recession there are inevitably some casualties and the recession tests the quality of management – well-managed companies will be more likely to survive."

Mr Kern went on to say it is important not to exaggerate the extent of the current economic situation, adding that despite there being a fall in activity, the majority of the economy will survive intact.

Figures released by the Office for National Statistics indicate UK gross domestic product contracted by 0.6 per cent in the third quarter of 2008, meaning that its level is now three per cent higher than in the third quarter of 2007.

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Filed: 20-01-2009