After this, I had to explore the chronological evolution of bankruptcy in the society that I am studying. Here, the major problem that I encountered was about which examples and instances in history to pick. As I am not a historian or researcher in history, I found this job very challenging. I had to pick up representative examples from history, the correct examples that point to a common tendency or sign that leads a company to bankruptcy (Ekvall and Smiley, 2007, p.83).
When the turn of business as a discipline came under the purview of my topic area, the many sub-disciplines of business like economy, management, marketing, public relations needed to be understood to arrive at analytical inferences. I had to have some general knowledge on matters like debt restructuring and debt advice to understand and analyse company bankruptcy as a business phenomenon. Especially, understanding the technical financial details of bankruptcy was a difficult task for me who had not studied economics as such. The financial history of the debtee is yet another multidisciplinary area where business and history combine (Ekvall and Smiley, 2007, p.83). The management aspects of bankruptcy was also intriguing as there are plenty of examples of companies facing debt crises and recovering from them. It is necessary in this context that I clearly argue why certain companies go bankrupt in the face of their debts. There are global, national and local factors involved. Also there are sector-wise specific problems and issues that lead a certain company to bankruptcy, which also I needed to have certain idea about. Practical recovery measures like out of court work outs, and sale of assets to avoid bankruptcy declaration are all part of business, management and economics and need to be understood and weighed (Ekvall and Smiley, 2007, p.32-38).
Psychology as a distinct discipline also had a role in my topic area and ...
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