A recent CEO.com article said that while businesses shouldn’t react to economic uncertainty in knee-jerk fashion, the recent tumble in equity prices cannot be ignored. So, they suggested five things companies can do right now to improve options for the future.
- Re-visit big, inflexible projects
- Learn more about consumer needs; investing small amounts in technologies emerging from academia, or trialing new ideas in modest test markets, companies can build their understanding about growth options and position themselves to take bolder and riskier moves as the economy brightens.
- Add services
- Experiment with new business models
- Shape a portfolio plan
What do you think about these tips? Is this Ripe (relevant, and you agree this would help your future options), or Hype (this list wouldn’t help your options in economic uncertainty)?