  Caroline Firstbrook, Accenture Strategy lead for Europe, Africa and Latin America, examines the impact of the economic downturn on UK companies, although her observations hold true for other geographies as well. Firstbrook’s starting point is that the current uncertain economic climate should be seen as an opportunity for high-performance businesses to extend their leads over competitors.
After discussing reasons for the downturn, Firstbrook outlines key elements that should inform a company’s strategy. The first step must be to take stock and assess the risks that the company faces. The company must then decide on its approach: survival or growth. She outlines the strategies that should be considered in each approach. One of the marks of a high-performance business is its ability to prosper through economic cycles. This article is essential reading for all executives as they face the challenges of piloting their companies through the downturn, seizing the opportunity to reposition them advantageously where possible, and ensuring they are ready for the upturn when it comes. |