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Assignment Managing People and Performance Submitted to: Prof. N.M. Agrawal PGSEM 2005 Section B Names: Arun Kumar Sharma (2005078) Ashit Kumar (2005080) Sanjay Chaudhary (2005137) Vikas Agarwal (2005115) Managing Downturn in IT Industry Managing Downturn in IT Industry 3 1 Introduction 3 2 Problem Definition 3 2.1 Economic Downturn - Defined 3 2.2 Company Reactions during downturn 5 2.2.1 Cut Costs 5 2.2.2 Improve Focus 5 2.2.3 Ease points of pain 6 2.2.4 Share costs 6 3 Analysis 6 3.1 Reasons for Downturn 6 3.2 How do people see the downturn 7 3.3 Strategies to focus during downturn 8 3.4 HR strategies during downturn 9 3.5 Outsourcing as an option 10 4 Suggested Strategy to Manage Downturns 10 4.1 Core Competencies 10 4.2 Customer is the King 11 4.3 Human Resource 12 4.3.1 Talent Retention 12 4.3.2 Miscellaneous Actions 12 5 Conclusion: 12 6 References 13 Managing Downturn in IT Industry 1 Introduction There are always ups and downs associated with any line of business. IT is not an exception. During downturn profit margins take a toll and consumer confidence plummets. Business executives around the world eagerly scan the latest report on economic indicators and search for good news. Downturn affects many segments. It is not only the industry that experiences the negatives of the economy, but also the common man is affected. Economic uncertainty elicits different reactions...

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