October 11, 2022
Lowering expenses and hitting pause on investments—such short-term moves may seem like sensible options for businesses trying to make it through today’s economic uncertainty. But focusing solely on financial consequences could distract leaders from seeing the many ways at hand to build new capabilities for long-term resilience and success.
This is a moment both to be alert to immediate risks and to look ahead. Businesses should explore different financial planning approaches, emerging ways to engage talent, and revamped pricing strategies. They can act now to build more resilient supply chains, strengthen trade relationships closer to home, and renew their sustainability commitments as energy costs fluctuate. As unsettling as the current conditions may be, the companies that use this time to evolve will be in a better position to thrive in the future.
We asked BCG experts where business leaders can find opportunities now for lasting advantage and increased resilience. They describe the contours of today’s volatility and how organizations can turn from uncertainty to action.
Finance leaders can drive strong business outcomes at a time like this. To do that, they need a new approach to forecasting and a team with more than traditional accounting skills.
The pace of the energy transition is increasing, offering plenty of room for businesses to improve the sustainability of their operations and make their strategy and competitive offerings stand out.
Today’s conditions bring more complexity to the supply chain officer role—perhaps even redefining it—as businesses face the threat of economic slowdown while trying to find new opportunities.
HR cannot be the sole owner, driver, and creator of great talent strategies. Leaders need to share the strategic imperative to think differently about external—and internal—talent.
As tensions mount in many trade corridors, and regulations and market shifts become harder to predict, businesses must examine where they source, transform, and sell their products and services.
