Don’t wait for recovery: focus and drive forward

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When will the business climate improve? – wrong question! I’m not usually a fan of Fortune – too focused on personalities, rather than what actually gets done and works – but great item by Ram Charan explains with some good examples [GE and environment services group Nalco] that  strong companies are looking to drive forward, rather than hunkering down and hoping. Yes, they have cut costs and conserved cash, but refocused to position themselves for growth.

One intriguing piece ...

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Decline and recovery by sector

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Experienced execs may have a good feel for how their particular industry may evolve during the downturn and recovery – e.g. consumer sectors tend to fall first, but recover earlier also. McKinsey have mapped the decline and recovery of different sectors in previous recessions, which might give useful pointers for what to look out for in your industry so your strategy can respond at the right time.

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Strategic recovery guide

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I’ve fumed about the strategic errors that have got so many firms into the mess in which they now find themselves, but I guess you might like some idea how to get out of a hole? I just gave a short session on one approach to this with a class of 50 senior execs, and was reminded about a project I did to help a company dig itself out of trouble last time round, after the 2001/02 debacle. No guarantees, but ...

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