Though the recession has been a frequent topic in the last year, it has rarely been discussed favorably. A recent study from Deloitte, however, places the state of the economy in a more hopeful light. According to the survey, over 53 percent of executives said they felt the rebound in the recession would begin in the first or second quarter of 2010. In a recent interview, ExecuNet President and Economist Mark Anderson made similar statements regarding the timing of the economic rebound, citing the positive economic growth of world economies such as Germany and France. Another factor aiding Anderson’s prediction was US GDP finishing down only 1 percent at the end of the second quarter when it was predicted to be down 4 percent.
While the prediction of a foreseeable rebound may provide much needed relief, it is also expected to bring new challenges as companies plan for recovery. According to the Deloitte survey, it’s important for corporate leaders to implement a “role specific guide for undertaking the structural changes necessary to position their organizations to achieve profitable growth over the next few years.”
Leaders are cautioned to be aware of changes to their industry as well as their organization. Among the questions the survey recommends executives and their teams consider as they plan for recovery are: “How will your markets change and how will that affect what it takes for your organization to succeed?”; “Where do you need to focus to drive sustainable value?” and “Where are your leadership gaps — and what’s your plan to augment your team where necessary?” In addition to these questions, Deloitte recommends taking time to breathe and to focus less on being reactionary and more on strategy.
