There is no better time to prepare for an economic downturn than when business is good. With the severity of the 2007–2008 financial crisis still fresh on the minds of many directors and executives, how should companies prepare for an economic downturn in the cool of the day rather than reacting in crisis mode in the heat of the moment?
At this time, most established business plans do not contemplate an economic downturn. However, some observers are forecasting a recession in the United States within the next couple of years – say, by 2020.[1] Everyone is…
