What’s more important, surviving today or building for tomorrow? Welcome to the CEO’s dilemma.
Global recession might be too broad of a term. We take a more nuanced perspective, by region, by sector. Whereas inflationary pressures seem to be a global phenomenon, we have many areas in Asia Pacific where we don't see inflation. In the EU, energy prices are the main driver for inflation, whereas in the US, we’re looking at rising labor costs. In general, these are the days to build your resilience. Challenge yourself, prepare yourself to really be able to weather the storms that might be coming in the next year or two. Also look at the anti-cyclical moves, M&A in downturn, using the low valuations for your advantage. Commit to innovation and sustainability, and obviously take a very diligent look at the cost side. What you spend, where you spend, why you spend.
Our research shows that winners in times of economic uncertainty don’t sit still. They rather use the ambiguity around them to create opportunities by taking bold action based on a rapid assessment of their starting position, adapting the way they move and behave, and thriving for the mid and long term.