Summary of Austerity Business

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Austerity Business book summary


7 Overall

7 Applicability

6 Innovation

7 Style


Business always has run in cycles, from exhilarating highs to devastating lows. Monetary tremors typically register somewhere in the middle range, but every so often, tectonic financial plates shift worldwide, creating permanent change. Scarcely any entity has emerged unscathed from the international economic crisis that began in 2008 and that continues to wreak havoc. Pretending that things will one day “return to normal” means denying reality, insists Alex Pratt, a veteran entrepreneur. He believes business must adopt a new philosophy in this “age of austerity,” when there’s less money, reduced workforces and smaller appetites for risk. He calls for businesses to return to the fundamentals: intelligent spending, informed decisions, smart staffing and first-rate customer service. Yes, current economic conditions have created hesitancy and insecurity, but now is your opportunity to formulate a strategy and execute an action plan that will help ensure your survival and, perhaps, lead to prosperity. Pratt’s “39 tips” occasionally overlap and intersect. But that quibble aside, getAbstract believes Pratt’s approach has utility and validity. Like it or not, austerity is here to stay. Get used to it.

In this summary, you will learn

  • How to maneuver successfully through the new business landscape,
  • How change can engender success in an age of austerity and
  • Why you need to treat your customers better than ever.

About the Author

Alex Pratt is an entrepreneur and director of Serious Brands in England. He has advised several governments on business, competition and innovation.



A New Way of Doing Business
There’s no use looking wistfully through your rearview mirror – the global financial crisis that took hold in 2008 has created fundamental changes. The fall of giants such as Lehman Brothers represents the crumbling of corporate pillars once thought indestructible...

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