CBI: Recession will create business change

The current recession in the UK will act as a catalyst for business change, the Confederation of British Industry (CBI) has asserted.

According to the group, concerns over supply chains, commercial models and finance have all been the subject of concern amid the economic downturn and are likely to be the subjects of wide-scale alterations.

Launching The Shape of Business – The Next 10 Years, the CBI is now keen to look to the future, identifying four areas where change needs to occur.

These include creating and deploying more credit options, integrating sustainability and ethics into the corporate model and building a more flexible workforce.

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Richard Lambert, CBI director-general, said: “What we now need is a more balanced, less risky pathway to growth – one in which the short-term returns may be lower, but the long-term rewards for management success will be a lot more sustainable and secure.”

The CBI recently revealed that many firms are now beginning to thaw their recruitment freezes.