Management steps during recession

Possible management steps in recession in decreasing order:
Reduce operating costs
Increase productivity
Introduce new products/market offerings
Reduce capital investments
Restructure
Hire talent that otherwise would not have been available
Seek merger or acquisition opportunities
Leave certain markets
Increase Hedging
Other
No steps


No action is the step followed by majority of the companies since the belief is these are temporary changes or even if permanent changes then what else they can do. Communication to investors is one of the prior steps to increase confidence among investors before share buy back.

(Source: One of the online polls )