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EFLA 1

In this case, Gudmundur Thorbjornsson, manager and director of EFLA Consulting Engineers in Iceland addresses a problem that is company had to overcome. In the autumn of 2008 there was a bank crisis in the form of a bank collapse which had a major effect on the Icelandic economy and the companies within the economy. EFLA Consulting Engineers was being formed at that time. It was actually born in October of 2008 directly into this crisis so they were a company that wanted to exploit the opportunities of the continuous growth in Iceland just prior to that time. But they faced a completely different scenario, so the question was what should they do?

Interviewee

Gudmundur Thorbjornsson

Company

Industry

Business Activity

EFLA Consulting Engineers 

Consulting Engineering

Professional, scientific and technical activities

Headquarters

Reykjavik, Iceland

Size

Medium

Employees

25 to 500

$1 million to $25 million

Yearly Revenue

Private Company

Type of Entity

Subject

Human Resource Management

Level of Difficulty

Easy

Enhance organizational turnaround knowledge

Teaching Objectives

Keywords

Economic Downturn

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