Beyond Just Surviving the Recession

While the debate may rage on over whether or not we are in a bona fide recession, many forward-thinking business leaders recommend skipping the denial and in-between steps to get right to accepting the R-word. Deal with it and start to make the necessary adjustments for both survival during the down period and prosperity when the economy begins to flourish again.

The Financial Times has asked such business leaders what strategies they recommend companies and their leaders consider during a recession. Among the suggestions: analyze the severity of the company's situation, devise a plan to protect the fundamentals and existing business and start to look long-term. For well-run businesses this might mean strategic acquisitions during a time when asset prices will be down. Such economic times are also good times to invest in R&D and product innovation, not to mention reevaluating the value of your business, products and operating markets—what works, what doesn't, and what do our customers really want or need?

Figuring out what's best for your company during a recession is no easy feat. There is no shortage of suggestions floating about, but good leaders of strong companies will find wisdom in staying positive and planning for future profitability.