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Economic Crisis Early Warning Signs and Response Strategies for Corporate Bankruptcy Prevention

In: Proceedings of the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024)

Author

Listed:
  • Baihe Ling

    (Elizabeth House, Harrow International School Appi 180-8 Appi Kogen)

Abstract

The global pandemic has brought very difficult times to the economy, with funding issues, supply chain disruptions, and changes in the way people buy. This article will examine this issue and, concerning real-life examples, explore the importance of having a good plan to anticipate and respond to economic crises. It points out some warning signs, such as poor cash flow, customer churn, and changes in people's consumer confidence. The goal is to provide companies and policymakers with plans to cope with periods of economic contraction. By combining real events, number crunching, and comparing different situations, the study examines the effects of different prevention and response measures and tries to come up with ideas that can be used to make the economy stronger and more stable. We hope that the lessons learned will prepare us and enable us to respond better to prevent adverse effects when the economy is in turmoil again.

Suggested Citation

  • Baihe Ling, 2025. "Economic Crisis Early Warning Signs and Response Strategies for Corporate Bankruptcy Prevention," Advances in Economics, Business and Management Research, in: Junfeng Lu (ed.), Proceedings of the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024), pages 482-493, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-652-9_51
    DOI: 10.2991/978-94-6463-652-9_51
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