Kellogg’s succeeded by going heavy into radio advertising, launching ads that featured its now-famous “Snap! Crackle! Pop!” slogan in 1932. By 1933, Kellogg had increased its profits by 30% and distinguished itself as the country’s leading breakfast company. Mirroring the Keynesian economic policies that would later be implemented by the Roosevelt administration, the cereal company doubled its advertising budget and re-invested in its workers shortly after the market crashed in late 1929. But one company in particular succeeded by taking the opposite approach: Kellogg’s. The Great Depression is one of the most catastrophic economic shocks the United States has ever seen, a calamity that saw unemployment climb to 25% alongside a massive GDP drop.įor many companies, the Great Depression meant instituting across-the-board cuts to lower their overhead. Kellogg’s thrived during the Great Depression by investing more in advertising - and in its people. While the current crisis may once again be challenging some of these companies, we look at their strategies for rebuilding in the past, and the lessons that could still apply today. As the coronavirus pandemic continues, companies both large and small are looking for ways to weather the storm.īelow, we dig into how 7 companies survived past economic calamities, from the dot-com bust to the Great Recession. Today, companies around the world are scrambling to adapt to the shock waves caused by Covid-19, which has impacted investment activity across nearly every sector. The 2008 mortgage crisis, for example, led to the devastation of global financial markets, ultimately causing one of the economic biggest downturns in history - one that took nearly a decade to recover from. While causes may vary, outcomes rarely do: from high unemployment to disrupted business operations to stock market plunges, the decline in economic activity can yield major setbacks. S2CID 18169351.From doubling down on advertising to developing new products, we look at 7 companies' strategies for navigating through a crisis.Įconomic crises are an unpredictable but inevitable occurrence impacting economies worldwide. 2011 IEEE International Conference on Robotics and Automation. "Minimum snap trajectory generation and control for quadrotors".
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