Playing to win10 ideas for surviving the downturn and positioning for the future |
.jpg)
Not long ago, it seemed that Canada would be relatively sheltered from the effects of the global recession. Now it’s clear that is not the case. Unfortunately, most companies that prepared their budgets and plans when the economy was stable are now feeling the effects of having to make quick cuts to reduce costs and protect their margins. But in their rush to reduce spending, many are making short-term decisions that could weaken their competitiveness in the long term.
Playing to win: Ten ideas to survive the downturn and position for the future is a new Deloitte report that offers ten practical tips to help companies reduce costs more effectively and position themselves for the eventual upturn of the economy.
The report is based on findings from a Deloitte survey that asked Canadian consumer business and manufacturing executives how they are being affected by the downturn and how they are managing their costs. According to the survey, many Canadian companies were surprised by the speed and impact of the economic downturn. In fact, more than 50% admitted they underestimated the severity of the downturn to the Canadian market when developing their plans and budgets. Additionally, results indicate that many companies may be underestimating the percentage of budget cuts needed to stay afloat if the recession continues on the same trajectory.
Read Playing to win
For more ideas on how to manage your business in volatile times, read our reports:
Breathing room – How to squeeze more working capital from your supply chain
Hedging your bets – How to use operational hedging to offset currency fluctuations
See the bigger picture – 9 tips to help CFOs adapt to changing markets
More from less – How CIOs can deliver greater value from IT
People are at the heart of business success – How to get greater value from your best employees
Uncharted waters - 8 ideas to help credit card issuers manage through the downturn
Page Last Updated
Playing to win
(237.68 KB)
