Good recession planning starts with a realistic assessment of your company’s starting position. So, where do you start? In a (simplified) nutshell, it is crucial to get a full picture of how strongly you are positioned strategically compared to your competition and how well you are performing financially.
Why is it crucial to get this full picture? When you compare a downturn vs. a stable period to one another, there is more movement in company performance to win (or lose) on during a downturn.
In my C-suite conversations, I increasingly address tactical and operational considerations to impact strategic positioning. Some of my clients leverage purchasing power to impact competitor supply. Others deliberately stabilise prices for several of their products to strengthen market
Whatever the situation: they all actively pursue additional ways to improve operational efficiency. A reactive approach to win a downturn is definitely not the answer.
