These days, it feels like we are living in the business world’s version of Billy Joel’s 1989 hit, “We Didn’t Start the Fire.” Inflation, geopolitical tensions, energy shortages, labor shortages, employees’ evolving expectations, rising interest rates, increasing cyber and data risks, insatiable investor expectations — the list goes on. Just like the song says, today’s business leaders did not necessarily create this economic environment by ourselves, but it is ours to address and lead through.
5 Questions for Business Leaders to Ask in Uncertain Times
The answers will help guide your strategy.
December 16, 2022
Summary.
In today’s economic headwinds, companies that aggressively prioritize and focus on what is within their own control can retain and earn the confidence and trust of their people, customers, investors, and other stakeholders. Leading companies are keeping it simple and focusing on what they can control, setting strategy by asking five key questions: 1) Am I differentiated? 2) Am I fit for growth? 3) Is my IT spend effective and at the right levels? 4) Is my portfolio of businesses too complex? and 5) How do I reduce risk?
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How to develop a winning strategy—and put it to work.
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New!
HBR Learning
Strategy Planning and Execution Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Strategy Planning and Execution. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
How to develop a winning strategy—and put it to work.