Managing Effectively in a Downturn

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The ten fundamental priorities in a downturn


1

 Take a closer look
Determined to secure profit, some companies tend to...

2

 Act decisively
Resting on your laurels is not an appropriate strategy for turbulent times...

3

 Remember „cash is king“
Businesss that emerged as market leaders in their segment from the last recession...

4

 Focus on what really matters
In a downturn, businesses must ensure their customers remain their number one priority...

5

 Manage your cost base
The economic downturn has forced companies to re-evaluate their relationship between costs...

6

 Reliable information is key
In difficult times, reliable management information is particularly vital...

7

 Plan for different scenarios
Nobody can really say for sure how an economy will develop and what impact the downturn...

8

 Recognise the value of your people
It is not easy to motivate employees during these economic conditions...

9

 Take your stakeholders with you
The downturn presents challenges, not only to companies themselves, but to their stake-holders...

10

 Take advantage of the opportunities
Strong companies can capitalise on and exploit adverse conditions...

This checklist is a guideline to pilot you effectively through the turbulence of the crisis. Comments offered on specific issues arising in the fields of strategy, finance, operations and stakeholder management all serve to support your efforts. Each section contains a nucleus of further information.

What challenges are you being confronted with during the downturn?

Businesses looking to capitalise from a recession will focus on a clear set of priorities, and on a partner that will support them in crucial issues - a partner like PricewaterhouseCoopers.