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How Companies Can Navigate Rough Economic Waters

Building your organization's resilience in an economic downturn

Senior partner Tracy Francis identifies six moves businesses—particularly consumer companies—can make to build resilience in the face of tough economic circumstances.

The first thing, of course, is to think about resilience. It’s really important to have your house in order in a moment like this. And I think all the leaders we’re talking to have taken action on that front.

The second one that’s perhaps a little more counterintuitive is to think about growth. What we know, based on our research, is that organizations who, throughout downturns, are able to both manage resilience and growth emerge significantly stronger than their competitors. And so, I think thinking about, “What are the avenues for growth at this time?” is really important.

Please select this link to read the complete article from McKinsey & Company.

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