1. Recession – Threat or Opportunity Pam Kennett Chiswick Consulting
2. What are people expecting? Comparison of early 90’s with today – actual and forecast UK GDP growth Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 “ 81% of business leaders expect the UK to make a full recovery from this slowdown and return to business as usual ” Percentage Source: Hay Group Centre for Economics and Business Research 2008/09 1987–93 2004–10
3. Businesses are slow to respond “ Just 13% of companies in the UK are making plans for the upturn.” Are you? Source: Hay Group Centre for Economics and Business Research 2008/09 Adjusted targets but not strategy No changes New strategy for downturn New strategy for downturn and upturn All firms Financial services Other commercial Business response
4. How is UK plc responding? Launch aggressive sales drive Reduce sales force numbers Reduce investment in innovation Increase investment in innovation Invest in growth markets Halt expansion Reduce costs in low margin business Cut costs across the board
5. What we can learn from the best companies Stay close to the customer Innovation Managing Cost
