Yes, the Economy Sucks and CEOs are Scared. How Do We Keep Progressing?

I recently read an article about “Balancing Risk and Opportunity in Today’s Economic Climate” published by the Aberdeen Group.  I participated in the study and just got the results yesterday.  The results of the survey, which are from business leaders from all industries show that respondents in late 2009 were expecting a positive turnaround of 10.5% in revenues and 8.6% in profits for 2010.

There was a high optimism as we entered 2010, but Aberdeen identifies a fairly high level of business risk in assuming high levels of growth.  80% of companies expected to grow revenue, but economic conditions rank first as the top challenge to those growth expectations.  The inability to execute strategy was a close second with regard to companies reaching revenue goals.  Given that the economy is so shaky, do you think this research holds true now that we have reached the midway point for the year?  I feel shaking under my feet every day, so forgive me if I don’t cancel my earthquake insurance.

The study reveals that almost half of businesses responding to the survey believe that when the economy starts to really recover, it will be slow and steady.  How do we keep strategies moving forward despite the uncertainty?  I’m not sure C-level management will have the patience or commitment to keep working on key strategies if the economy is not rebounding as expected.  I don’t think the economy is following the expected path for 2010 despite the hopes expressed in this survey.  How do we move forward and keep our company progressive, but calculated for the second half of the year?  Tell me what you think and let’s help each other navigate the recovery effort in this “earthquake” aftermath.

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