“The highest-performing companies identified the crisis early and responded quickly."
MARK THOMAS, BUSINESS STRATEGY EXPERT AT PA CONSULTING GROUP
Procurement LeadersTim Burt2 January 2012
PA’s recent research report, ‘Managing uncertainty: Navigating the minefield’ is featured in an article in Procurement Leaders. The article details whether investment decisions should be put on hold as the world economy nears a recession for the second time in three years. The report surveyed over 200 companies and their reactions to the last financial crisis.
From the research report, the article cites, “The most common response, cautiously battening down the hatches, is not a formula for success.”
It continues with, “The highest-performing companies identified the crisis early and responded quickly. They had a moderate approach to cost reduction and they looked beyond this to focus on the opportunities to get ahead.”
PA’s Managing Uncertainty survey asked more than 200 senior business leaders from across the world how they had responded to the financial crisis and what management strategies had proved most effective. Our analysis establishes which actions added value and which did not. Contact us now or find out more here.