Contingency Planning for a Recession–or a Recovery

I spoke a couple of months ago about the economic contingency planning process.  You can listen here.

Key steps:

  1. Evaluate your company's own vulnerability to changes in the economy.
  2. Develop an early warning system specific to your business.
  3. Sketch out a contingency plan for economic changes.
  4. Manage the business to gain or preserve the flexibility to implement the plan.