Even before COVID-19, Wall Street analysts were speculating about when the next recession would begin. Warning signs included ballooning corporate debt and slowing GDP growth in China.
And then came COVID-19. Now, economists are wondering how bad this recession will be and how long it will last. But C-suite executives are asking different questions, like:
· How can we survive and thrive after this recession?
· What specific actions are most important to take now?
· What do resilient companies do differently?
McKinsey’s Mihir Mysore knows the answers. He co-authored the HBR article, “What Companies Should Do to Prepare for a Recession,” which looked at what resilient companies—those in the top quartile of total shareholder returns—did during the 2009 recession. Mysore found that resilient companies:
· Moved quickly to reduce operational expenses
· Built more flexibility into investment planning and operations
· Maintained loyalty among high-value customers
On Thursday, June 11, 2020, Mysore will lead a live, interactive HBR webinar. He will share lessons about resilient companies from previous downturns and describe what he expects the most resilient companies to do in this downturn—which includes using digital tools and advanced analytics along with strengthening their balance sheets.
If you want your company to come out of this downturn even stronger, join HBR and Mihir Mysore to learn what resilient companies do differently and to help you develop your game plan for thriving when the economy reverses.