The current economic expansion is long by historical standards, and thus the risk of recession rises with each passing month. Recessions catch many companies by surprise, with predictable results. In the 2001 recession, total sales for the S&P 500 declined by 9% from its pre-recession peak to its trough 18 months later—almost a year after the recession officially ended. But these periods also present opportunities for well-prepared companies to take advantage of the turmoil and gain share.
The best time to undertake major changes…
