Recommendation report Assignment Example | Topics and Well Written Essays - 2500 words

Recommendation report - Assignment Example The director of the Global Client Collaboration department at Steelcase, Inc. asked for a research that would analyze the effects of current global economic crises (2012) on multinational corporations and evaluate possible solutions for the case of Steelcase, Inc. that would assist it to survive this economic environment. Steelcase is a company that manufactures furniture whose head office is in Grand Rapid, Michigan and is the biggest manufacturer of office furniture in the globe. The company has about eighty locations and over eleven thousand employees all over the globe in locations including Malaysia, Mexico and Romania, which are responsible for supporting the local Steelcase dealerships and offices. It also operates show rooms referred to as WorkLife Centers all over the US, Asia and Europe with manufacturing facilities being located in Europe, the Middle East, North America and Asia. The company is mainly involved in designing and producing furniture , wall surfaces, technolog y tools, architectural products as well as ergonomic among other products. It sells its products online through more than eight hundred dealers in various locations while also offering workplace consulting services in some of its locations of operation. The economic and financial crisis resulted from issues in the US’s financial sector in 2007 that were characterized by unsound lending activities by financial institutions as well as unsatisfactory management of risk that prompted an extraordinary devaluation of assets along with credit squeeze as far as interbank lending was concerned. In a short time, the calamity escalated into a worldwide economic tremor that soon affected the real economies. In numerous economies, the crisis was an imported aspect since the countries in regions outside the US were affected in mid-2008 largely through export markets collapsing. The