The article discusses the financial crisis of 2008 and the strategies managers used to navigate through it. It analyzes the causes of the crisis, both internal and external, and how firms made strategic decisions during and after the crisis. The role of crisis management in strategic management is highlighted, with a focus on the car industry and the success story of Sergio Marchionne. The article also compares the 2008 crisis with the ongoing 2020 economic situation, particularly in light of the Covid-19 pandemic.