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MASTERCLASS:In a recession firms should open up, explore new sources of potential revenue and look to employees for ideas and innovations

For those already in business the main aim is to stay there and while the tendency is to dig in, experts in business survival say this may not be the best course of action. Freek Vermeulen is associate professor of strategic and international management at the London Business School. He says businesses under threat are inclined to narrow their perspective and to focus on what they do best. The downside of this approach is it usually gets in the way of seeing other options and solutions.