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THRIVING IN UNCERTAINTY
ROBERT COHEN
CHAIRMAN AND CEO
NOVEMBER 30, 2023
UNCERTAINTY
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
COVID-19
Recession
The Dot-
Com Crash
& 9/11
S&L Crisis &
Gulf War
Recession
ECONOMIC RECESSION AND GOVERNMENT
SHUTDOWN
The Great
Recession
2023
Government Shutdown Economic Recession
REGULATORY BUSINESS REFORM
Hillarycare
Glass
Steagall
Obamacare
Non Compete
2023
Gramm
Leach Bliley
Sarbanes-Oxley
Dodd
Frank
Whistleblower
Protection Act
INTERNATIONAL CONFLICT / WARS
Gulf War Afghanistan
Iraq War
Somali
Libya
Syria
Ukraine
Israel
2023
TECHNOLOGY INNOVATIONS
iPhone
AI outperforms
humans in
reading
comprehension
ChatGPT
2023
BLACK SWAN EVENT
9/11
2023
THRIVING DURING UNCERTAINTY
2023
S&P 500 Dow Jones Nasdaq Composite Russell 2000
THE GREATEST DANGER IN
TIMES OF TURBULENCE IS
NOT THE TURBULENCE.
IT IS TO ACT WITH
YESTERDAY'S LOGIC.
Peter Drucker
LOOK TOWARDS THE FUTURE
How will organizations do business in
the future?
What will it take for organizations to
thrive amidst uncertainty?
CHALLENGES
ACCELEARTING PACE
EMPOWERED ORGANIZATIONS
CHANGE / ADAPT
THRIVING AMIDST UNCERTAINTY
UNPRECEDENTED GROWTH AND SUCCESS!
7 KEY FACTORS TO
THRIVING AMIDST UNCERTAINTY
7 KEYS
1. EMBRACE CHANGE
• Don’t fear change
• Lean into it
• Pivot quickly
• Adapt / change
• MUST adjust our strategies during turbulent times!
7 KEYS
1. CHANGE
2. FOSTER A CULTURE OF INNOVATION
• Create an environment where creativity is celebrated
• Failures are seen as opportunities
• Every team member is empowered to contribute their ideas
• MUST Crave Innovation – Innovation becomes the heartbeat of the
organization
7 KEYS
1. CHANGE
2. INNOVATION
3. BUILD RESILIENCE INTO YOUR BUSINESS MODEL
• Not just about Bouncing Back Bouncing Forward
• Diversify revenue streams
• Fortify your financial foundation
• Develop contingency plans
• MUST build a business model that weathers uncertainty!
7 KEYS
1. CHANGE
2. INNOVATION
3. RESILIENCY
4. LISTEN AND RESPOND TO CUSTOMERS
• Customer feedback is powerful
• Tailor your products and services
• Meet your customers needs, concerns, and desires
• MUST let your customer be your compass!
7 KEYS
1. CHANGE
2. INNOVATION
3. RESILIENCY
4. LISTEN TO CUSTOMERS
5. INVEST IN YOUR PEOPLE
• Invest in their growth – professionally & personally
• Create a skilled and motivated workforce
• Competitive advantage
• MUST make your people your most valuable asset!
7 KEYS
1. CHANGE
2. INNOVATION
3. RESILIENCY
4. LISTEN TO CUSTOMERS
5. INVEST IN YOUR PEOPLE
6. LEVERAGE TECHNOLOGY AS AN ENABLER
• Embrace technological advancements
• Streamline operations
• Enhance decision making
• Foster collaboration
• MUST make technology as an enabler of transformation!
7 KEYS
1. CHANGE
2. INNOVATION
3. RESILIENCY
4. LISTEN TO CUSTOMERS
5. INVEST IN YOUR PEOPLE
6. LEVERAGE TECHNOLOGY
7. SEE RISK AS AN OPPORTUNITY
• Risk is a threat
• Understand your risks
• Develop mitigation strategies
• Calculated risk can lead to innovation and growth
• MUST be ready to seize opportunities that others might overlook!
7 KEY FACTORS TO THRIVING AMIDST UNCERTAINTY
1. CHANGE
2. INNOVATION
3. RESILIENCY
4. LISTEN TO CUSTOMERS
5. INVEST IN YOUR PEOPLE
6. LEVERAGE TECHNOLOGY
7. RISK AS AN OPPORTUNITY
DO YOU AGREE WITH
THE 7 KEY FACTORS?
SO DO I!
ONE PROBLEM…
27
7 KEY FACTORS TO THRIVING AMIDST UNCERTAINTY
1. CHANGE
2. INNOVATION
3. RESILIENCY
4. LISTEN TO CUSTOMERS
5. INVEST IN YOUR PEOPLE
6. LEVERAGE TECHNOLOGY
7. RISK AS AN OPPORTUNITY
MISSED A LOT
• LEADERSHIP
• SALES AND MARKETING
• STRATEGIC PLANNING
• CUSTOMER SERVICE
• FINANCIAL COMPETENCY
• SUPPLY CHAIN
• COLLABORATION
• NETWORKING
• REGULATORY COMPLIANCE
• DIVERSITY
• DEI
• ESG
• MORE…
FACTORS FOR ANY SUCCESSFUL ORGANIZATION
• LEADERSHIP
• SALES AND MARKETING
• STRATEGIC PLANNING
• CUSTOMER SERVICE
• FINANCIAL COMPETENCY
• SUPPLY CHAIN
• COLLABORATION
• NETWORKING
• REGULATORY COMPLIANCE
• DIVERSITY
• DEI
• ESG
• MORE…
• CHANGE
• INNOVATION
• RESILIENCY
• LISTEN TO CUSTOMERS
• INVEST IN YOUR PEOPLE
• LEVERAGE TECHNOLOGY
• RISK AS AN OPPORTUNITY
NOT ABOUT SURVIVAL
GROWTH AND INNOVATION
100 YEARS OF CHANGE IN THE NEXT 5 YEARS
AUTHENTICITY AND GRIT!
THRIVING AMIDST UNCERTAINTY
AUTHENTIC
“Authentic” was selected as the 2023 word of the year by the Merriam-
Webster dictionary, landing among the most looked-up works in the
dictionary’s 500,000 entries, the company said in a press release Monday.
AUTHENTIC, GENUINE, BONA FIDE mean being actually and exactly what is
claimed.
AUTHENTIC implies being fully trustworthy as according to fact;
GRIT!
THE AMOUNT OF
VALUE YOU PLACE ON
SOMETHING IS DIRECTLY
PROPORTIONAL TO THE
ENERGY YOU WILL SPEND
IN OBTAINING IT
SUMMARY
CHALLENGES
• INFLATION
• INTEREST RATES
• POLITICAL POLARIZATION
• CLIMATE CHANGE
• CONFLICT / WAR
• TECHNOLOGICAL ADVANCEMENTS
OPPORTUNITIES
• 7 KEY FACTORS
• OTHER FACTORS
AUTHENTICITY AND GRIT
WE CAN THRIVE AMIDST UNCERTAINTY
THRIVING AMIDST UNCERTAINTY
NOT A DESTINATION
MINDSET
EMBRACING THE UNKNOWN
TURNING AMBIGUITY INTO OUR GREATEST ASSET!
THANK YOU
THRIVING IN UNCERTAINTY
Q&A

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Cohen_Summit 2023-FINAL.pptx

  • 1. THRIVING IN UNCERTAINTY ROBERT COHEN CHAIRMAN AND CEO NOVEMBER 30, 2023
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  • 6. 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
  • 7. COVID-19 Recession The Dot- Com Crash & 9/11 S&L Crisis & Gulf War Recession ECONOMIC RECESSION AND GOVERNMENT SHUTDOWN The Great Recession 2023 Government Shutdown Economic Recession
  • 8. REGULATORY BUSINESS REFORM Hillarycare Glass Steagall Obamacare Non Compete 2023 Gramm Leach Bliley Sarbanes-Oxley Dodd Frank Whistleblower Protection Act
  • 9. INTERNATIONAL CONFLICT / WARS Gulf War Afghanistan Iraq War Somali Libya Syria Ukraine Israel 2023
  • 10. TECHNOLOGY INNOVATIONS iPhone AI outperforms humans in reading comprehension ChatGPT 2023
  • 12. THRIVING DURING UNCERTAINTY 2023 S&P 500 Dow Jones Nasdaq Composite Russell 2000
  • 13. THE GREATEST DANGER IN TIMES OF TURBULENCE IS NOT THE TURBULENCE. IT IS TO ACT WITH YESTERDAY'S LOGIC. Peter Drucker
  • 14. LOOK TOWARDS THE FUTURE How will organizations do business in the future? What will it take for organizations to thrive amidst uncertainty?
  • 15. CHALLENGES ACCELEARTING PACE EMPOWERED ORGANIZATIONS CHANGE / ADAPT THRIVING AMIDST UNCERTAINTY UNPRECEDENTED GROWTH AND SUCCESS!
  • 16. 7 KEY FACTORS TO THRIVING AMIDST UNCERTAINTY
  • 17. 7 KEYS 1. EMBRACE CHANGE • Don’t fear change • Lean into it • Pivot quickly • Adapt / change • MUST adjust our strategies during turbulent times!
  • 18. 7 KEYS 1. CHANGE 2. FOSTER A CULTURE OF INNOVATION • Create an environment where creativity is celebrated • Failures are seen as opportunities • Every team member is empowered to contribute their ideas • MUST Crave Innovation – Innovation becomes the heartbeat of the organization
  • 19. 7 KEYS 1. CHANGE 2. INNOVATION 3. BUILD RESILIENCE INTO YOUR BUSINESS MODEL • Not just about Bouncing Back Bouncing Forward • Diversify revenue streams • Fortify your financial foundation • Develop contingency plans • MUST build a business model that weathers uncertainty!
  • 20. 7 KEYS 1. CHANGE 2. INNOVATION 3. RESILIENCY 4. LISTEN AND RESPOND TO CUSTOMERS • Customer feedback is powerful • Tailor your products and services • Meet your customers needs, concerns, and desires • MUST let your customer be your compass!
  • 21. 7 KEYS 1. CHANGE 2. INNOVATION 3. RESILIENCY 4. LISTEN TO CUSTOMERS 5. INVEST IN YOUR PEOPLE • Invest in their growth – professionally & personally • Create a skilled and motivated workforce • Competitive advantage • MUST make your people your most valuable asset!
  • 22. 7 KEYS 1. CHANGE 2. INNOVATION 3. RESILIENCY 4. LISTEN TO CUSTOMERS 5. INVEST IN YOUR PEOPLE 6. LEVERAGE TECHNOLOGY AS AN ENABLER • Embrace technological advancements • Streamline operations • Enhance decision making • Foster collaboration • MUST make technology as an enabler of transformation!
  • 23. 7 KEYS 1. CHANGE 2. INNOVATION 3. RESILIENCY 4. LISTEN TO CUSTOMERS 5. INVEST IN YOUR PEOPLE 6. LEVERAGE TECHNOLOGY 7. SEE RISK AS AN OPPORTUNITY • Risk is a threat • Understand your risks • Develop mitigation strategies • Calculated risk can lead to innovation and growth • MUST be ready to seize opportunities that others might overlook!
  • 24. 7 KEY FACTORS TO THRIVING AMIDST UNCERTAINTY 1. CHANGE 2. INNOVATION 3. RESILIENCY 4. LISTEN TO CUSTOMERS 5. INVEST IN YOUR PEOPLE 6. LEVERAGE TECHNOLOGY 7. RISK AS AN OPPORTUNITY
  • 25. DO YOU AGREE WITH THE 7 KEY FACTORS? SO DO I!
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  • 28. 7 KEY FACTORS TO THRIVING AMIDST UNCERTAINTY 1. CHANGE 2. INNOVATION 3. RESILIENCY 4. LISTEN TO CUSTOMERS 5. INVEST IN YOUR PEOPLE 6. LEVERAGE TECHNOLOGY 7. RISK AS AN OPPORTUNITY
  • 29. MISSED A LOT • LEADERSHIP • SALES AND MARKETING • STRATEGIC PLANNING • CUSTOMER SERVICE • FINANCIAL COMPETENCY • SUPPLY CHAIN • COLLABORATION • NETWORKING • REGULATORY COMPLIANCE • DIVERSITY • DEI • ESG • MORE…
  • 30. FACTORS FOR ANY SUCCESSFUL ORGANIZATION • LEADERSHIP • SALES AND MARKETING • STRATEGIC PLANNING • CUSTOMER SERVICE • FINANCIAL COMPETENCY • SUPPLY CHAIN • COLLABORATION • NETWORKING • REGULATORY COMPLIANCE • DIVERSITY • DEI • ESG • MORE… • CHANGE • INNOVATION • RESILIENCY • LISTEN TO CUSTOMERS • INVEST IN YOUR PEOPLE • LEVERAGE TECHNOLOGY • RISK AS AN OPPORTUNITY
  • 31. NOT ABOUT SURVIVAL GROWTH AND INNOVATION 100 YEARS OF CHANGE IN THE NEXT 5 YEARS AUTHENTICITY AND GRIT! THRIVING AMIDST UNCERTAINTY
  • 32. AUTHENTIC “Authentic” was selected as the 2023 word of the year by the Merriam- Webster dictionary, landing among the most looked-up works in the dictionary’s 500,000 entries, the company said in a press release Monday. AUTHENTIC, GENUINE, BONA FIDE mean being actually and exactly what is claimed. AUTHENTIC implies being fully trustworthy as according to fact;
  • 33. GRIT!
  • 34. THE AMOUNT OF VALUE YOU PLACE ON SOMETHING IS DIRECTLY PROPORTIONAL TO THE ENERGY YOU WILL SPEND IN OBTAINING IT
  • 35. SUMMARY CHALLENGES • INFLATION • INTEREST RATES • POLITICAL POLARIZATION • CLIMATE CHANGE • CONFLICT / WAR • TECHNOLOGICAL ADVANCEMENTS OPPORTUNITIES • 7 KEY FACTORS • OTHER FACTORS AUTHENTICITY AND GRIT WE CAN THRIVE AMIDST UNCERTAINTY
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  • 43. THRIVING AMIDST UNCERTAINTY NOT A DESTINATION MINDSET EMBRACING THE UNKNOWN TURNING AMBIGUITY INTO OUR GREATEST ASSET!