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17 January 2024 / Quick Take
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Copy LinkConcerns about the economy, geopolitical stresses, and the realities of doing business in an inflationary market dominate the external factors that affect the CEO perspective. Longer-term issues—ESG, citizenship, equality, climate change—are taking a back seat, as the CEO focuses on managing short-term volatility. Or are they changing their minds about the “purpose” of business?
Uncertainty and crises always open up opportunities to innovate, speculate, and grow. CMOs must build agility and action into their teams to respond to changing conditions and capitalize on advantages but must follow the CEO’s lead. The Conference Board is still forecasting an economic slowdown for the beginning of 2024, and policies on pricing, promotion, and new product innovation should be adapted to capitalize on the changing conditions.
What lies ahead is uncertain but knowing that uncertainty is shared by all business leaders should act as a triangulation point for the actions that you will take.
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