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Executives in the IT sector are calling for calm in the face of a growing sense of alarm and panic in the business community.
According to a survey from the Chartered Management Institute (CMI) although things have become worrying there are calls from its members for a sense of realism.
Those surveyed said that things were worrying and most had started recruitment freezes but most agreed that the way out of the problems was through strong leadership and avoiding knee-jerk reactions designed to stem panic.
In a statement, Jo Causon, director, marketing and corporate affairs at the Chartered Management Institute, said that there needed to be strong leadership in the business community.
“It is vital that the UK’s leaders remain composed in the face of growing economic pressure because knee-jerk reactions will only serve to exacerbate the problem. It’s easier to manage when times are good, but the current climate is a real test of how strong the UK’s leadership credentials really are.”
One source said that the channel continued to “defy gravity” with most continuing to trade relatively normally despite the panic surrounding the economy.
“We are still busy and okay you don’t know how long it will last for but right now things are alright,” he said.
Ever since the credit crunch started there have been numerous surveys trying to test the temperature of the IT market and the CMI research adds to a list that so far has produced mixed findings both for a collapse in morale and against.