PROPHIX CPM Blog

This Recession Will End. Are You Ready For What's Next?

We just came across a great article from Deloitte entitled "Here Today. Where Tomorrow?".

Research showed that although most major companies surveyed believe that the U.S. economy will start improving in early 2010, many of those same companies will lag behind the general economy when the rebound occurs. The reason? Too much focus on short-term, tactical actions and little attention to structural changes and strategic investments that are needed to support growth in the new business environment.

Here's the article:

This recession will end. So far, they all have. But the recovery is not likely to follow a familiar pattern. And it's probably not as close as you hope. Nor is it realistic to expect a return to any familiar status quo. When we emerge, it will likely be into a new landscape.

If you're still in downturn mode, it's time to start thinking about what's next. And that will require a more structured, disciplined approach to understanding exactly where your company's strengths lie, where you're exposed and what to do about it.

Some see a recovery happening in the first half of 2010. Many others don't anticipate a recovery until the end of the year - or beyond. Whenever it arrives, most feel their individual businesses will lag behind the general economy when it finally arrives. Yet the same executives report little urgency in the actions their companies are taking to address reality.

Many are focusing on short-term concerns like liquidity and customer retention, not worrying about forward-looking areas like talent, profitable growth and structural change. Some leaders, however, are making aggressive moves, compounding the disadvantage for the ones that aren't.

Nobody said this was going to be easy, but this may be your best opportunity to reshape things as they should be in an ideal world. You'll want to give yourself the space needed to make these changes and shift into a strategic mindset. Formulate a plan that can be implemented and make it happen.

Great advice from a tremendous resource. The full 28-page report from Deloitte is available here.

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