Taking Advantage of the Pit Stop: How to Prosper in a Recession

The Economist Intelligence Unit’s report focuses on those firms that prosper in a recession, not just because of their industry, but because they have positioned themselves to be ahead when the economy improves.

 
The first thing most companies do in a recession is cut discretionary costs, such as marketing, training, travel, infrastructure maintenance and research and development (R&D). They tighten up on receivables, reduce inventory and look at selling non-core assets. But although focusing on cash and costs is necessary to survive, those companies that prosper take a more proactive approach to managing through recessions, seeing the slowdown as a “pit-stop”—a chance to rethink the future of the business and ensure that the company is geared up to achieve it.

 

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