It is now well- established that the next economic downturn is probably on the horizon. Companies, brands and individuals need to be prepared for the same, in a way that they can end up as winners during this round. Three key steps need to be mastered, in order to thrive during this period of uncertainty. To survive, one needs to maintain viability. Acting early is thus needed, so the brand can focus on the next downturn, and not on the last one. Then one has to perform, so building resilience becomes key. Changes to the talent management structure is crucial to this, so that flexibility gets built in. To thrive, one needs to work on increasing the vitality. A long- term perspective has to be worked on.

Source:https://www.bcg.com/featured-insights/how-to/prepare-for-downturn.aspx

Uploaded Date:26 August 2019