Just a few months ago, I was hard-pressed to find many positive headlines in the news. Instead, I was greeted with pessimism and uncertainty. And it was understandable.
But then January rolled around, and there was an almost-audible shift in the mood. Suddenly, people were looking forward again, even though much uncertainty remained. Companies started to talk about growth plans rather than cuts.
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And while every positive note was tempered with words such as \”gradual\” or \”eventually,\” something had returned to the marketplace: hope. There are still significant challenges, but conditions are ripe for executives to begin building on the lessons they’ve learned over the past 18 months to create stronger companies … and move forward.
The results of the 13th Annual Global CEO Survey, released by PricewaterhouseCoopers, reflect that shift in mentality, with 31% of respondents indicating they were \”very confident\” their companies would achieve revenue growth over the next 12 months. Over the next three years, half of the participating CEOs were \”very confident\” of revenue growth. In 2009, those numbers were 21% and 34%, respectively.
PWC surveyed 1,198 CEOs from around the globe for the survey, and the underlying message was the same even if geography and company size created variation in the actual results: \”Business leaders are emerging with a healthy respect for risk, volatility and flexibility??and a different view of the growth imperative.\”
The key lessons learned, according to the survey?
- Long-term planning is critical, but be prepared to change at a moment’s notice.
- Stay disciplined on costs, but incur them to innovate.
- Encourage banks to lend, but assume they won’t.
- Manage risks in good times and bad.
Keeping these lessons in mind can help your company be prepared for any potential aftershocks that may still occur before the economy has actually recovered. And, they can keep you prepared for future recessions.
