Which Experts Say the Recession is NOT Imminent?
With all the gloom and doom, where can you find a glimmer of optimism that actually has a factual basis? Look at the recent survey between CFO Magazine and Duke University. http://www.cfosurvey.org/11q4/PressRelease.pdf
The headline of this survey is that recession is not imminent. All great CFOs add caveats to their statements, and this survey does just that. You will not be overwhelmed by traditional comments of the financial statement package, balance sheet, income statement or cash flow projections. You will get the strategic issues considered which impact the financial parts of your Board of Directors report package.
You can use their caveats to see the concerns those CFOs have and are monitoring. By reviewing those ten concerns for applicability to your business, you have just uncovered how to apply market research on the cheap for your business.
So note on your calendar to check for their quarterly results at http://www.cfosurvey.org/ and regularly compare your last offsite leadership meeting, strategy update, budget review, contingency planning session, risk assessment or enterprise risk management update to what the insider CFOs think. Then you and your management team can discuss the differences to adjust your own business model or operating plan. This best practice can provide either the benefits from a risk management consulting firm or enterprise risk management services, or a good starting point if you decide to engage outside expertise later.
Normally this internal discussion will focus on how to avoid risks. Why stop there? Extend the discussion to see where these changes can create an upside option. You may find an opening where others hunkered down too much or got too optimistic and now your business can exploit an opening.
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