“V shape recovery is dead; anemic U growth is baseline; probability of a double dip is now 40%; and a L shaped near depression is possible in US/Eurozone/Japan.”
If 2008 taught the food industry anything, it was that leaders must not wait for conclusive evidence before incorporating critical dimensions of preparation and urgency into their business. It taught us to be ready to discard plans, behaviors and processes that are outliving their purpose, replacing them with a contingency designed for a new economic scenario. And by all means, execute flawlessly -- tolerance for shooting and missing is extremely low.
Blueberry believes that the success with which organizations change to cycle through the current turmoil and uncertainty will distinguish the winners from the losers in 12-18 months from today, tops. Our advice to c-leaders:
• Develop plans that work with the flow of the tide rather than against it. Avoid denial.
• Maintain a close eye on economic tailwinds and headwinds that impact our industry -- specifically, your business. React quicker.
• Find the new white spaces of customer and cost saving opportunities. They are probably not where they once were.
• Keep three contingency plans at your fingertips. Design them now.
2008 caught our industry unprepared. Applying what was learned, leaders do not have to be caught again.
