The study was conducted in Truong Giang Co. Ltd, Hai Duong city. The main objectives of the study were: i) to analyze impacts of economic recession on business activities of the company
ii) to understand adapting sollutions applied by company to overcome the negative impacts of economic recession, and iii) to propose feasible sollutions to help the company do business more efficiently under economic recession conditions. Systematical and participatory approaches
comparision and consultancy methods are main methods applied in this study. Results of the study show that economic recession has reduced capital sources, especially banking sources
increased input prices and changed payment methods of input suppliers that made business activities of the company more difficult
economic recession had negative impact on 82.6 percent labor force
and 62.6 percent of them has income reduced
Business efficiency has reduced in all indicators, especially in 2009 (ROS: -2.36
ROE: -2.80 and ROA: -1.64) and living standard of 82.9 percent labors has also reduced. To response to economic recession, the company has applied various sollutions. Exploition of government's stimulus funding package
renegotiation and finding out more input suppliers
appropriately capital borrowing using plan
and better use of labor force are main sollution suggested by the study.