Approach a recession as an opportunity to make strategic moves.
Events over the last couple of years have created real turbulence for businesses. We’ve experienced astonishing issues in quick succession: a global pandemic, global social and political unrest, and the financial pressures that have resulted from it all.
It isn’t surprising that economists are warning of a coming recession, but no one knows for certain how bad it will get or how long it will last, although recent headlines share some predictions.
According to the International Monetary Fund, a third of the world is expected to go into recession in 2023. On CBS News Face the Nation, we heard the following from Kristalina Georgieva, Economist and Managing Director of the International Monetary Fund:
For most of the world economy, this is going to be a tough year- tougher than the year we leave behind… Even many nations not in recession this year will feel like they are.
The IMF is an international organization with 190 member countries that work together to try to stabilize the global economy. A key role of the IMF is to act as an early economic warning system, and their prediction is likely setting off alarms in the minds of many leaders. Some businesses are already feeling the squeeze as Steven Waye, Agathos Co-Founder and Chief Product Officer shares:
The hard times have already arrived for healthcare providers and their supporting services, and I expect it to get worse before it gets better.
Wise business leaders are taking steps to ensure their business survives the downturn, perhaps coming out the other side even healthier. Agathos, for example, has already put strategies in place to leverage existing resources to proactively combat effects of an economic downturn.
In every recession, some companies die, some survive, and a few emerge stronger. How can your business approach a recession as an opportunity to make strategic moves? Join us for a free webinar on Jan 20, 2023, from 9:00-10:00am MST where we’ll explore:
- What a recession means for businesses.
- Key skills for recession survival.
- Why it’s a good time to reprioritize initiatives and how to approach that.
- Agile practices to double-down on to come out of a recession even stronger.
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