The recession should prompt business insurance holders to change the way they operate, it has been claimed.
A new report from the Confederation of British Industry (CBI) predicted how the economic downturn will impact on the behaviour of business insurance holders.
The study said that firms will turn away from debt-driven growth to avoid the problems created by the credit crunch.
In addition, companies are likely to introduce more sustainability and ethics into their business models, with more emphasis placed on corporate citizenship and accountability.
Business insurance holders are also tipped to increase collaboration with partner organisations such as suppliers, universities and even competitors to reduce the 'domino effect' of failures.
Richard Lambert, director general of the CBI, said: "We may be at the start of a new era for businesses, in which attitudes to finance and to corporate leadership are changed for a generation by the shock of the past two years."
Last week, John Grange, business advisor at Business Link, claimed that companies should become more confident in their attempts to survive the recession and recommended they try strategies such as developing new products or entering new markets.
