Corporate strategy in crisis? Hyperinflation crisis and its management at Norddeutscher Lloyd.
Business historians have studied causes and development of economic crises long before the last one, but the latest shifts in the financial markets further increased awareness of the course of action taken by the protagonists. Research may not pay attention to the role of «insolvents and bankrupts» to the same degree as it does to the heads of successful enterprises and concerns. More and more, however, focus is on the reasons for which some enterprises cope better with crises than others. Business history has come to the realization that not only are crises inherent to competitive economy, but furthermore they give insight into the machinery of the market and the behavior of its protagonists.
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