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Fail, Survive or THRIVE? What will be your outcome to the current economic downturn?

May 21, 2020   Microsoft Dynamics CRM

What will be your outcome to the current economic downturn?

The Harvard Business Review studied the last 3 recessions finding very important information that every business leader should review.

A few of the study’s findings:

-Firms that cut costs faster and deeper than rivals don’t necessarily flourish. They have the lowest probability—21%—of pulling ahead of the competition when times get better *

-Companies that reduce costs selectively and invest relatively comprehensively in the future by spending on marketing and other key areas have the highest probability – 37% of regaining pre-recession sales and profitability levels*

-Companies that invest in, for example, marketing during a recession may produce only modest benefits during the recession but adds substantially to sales and profits afterward*

Roaring Out of Recession studied the strategy and performance of 4700 businesses during the past 3 global recessions, breaking down the data into three periods: the three years before a recession, the three years after, and the recession years themselves.

The findings are stark. Seventeen percent of the companies in the study didn’t survive a recession The survivors were painfully slow to recover from the battering. About 80% of them had not yet regained their prerecession growth rates for sales and profits three years after a recession*

Only a small number of companies—approximately 9% of the sample—flourished after a slowdown, outperforming rivals in their industry by at least 10% in terms of sales and profits growth*

Want to learn what businesses did and didn’t do that determined how the recession impacted their business? Join us for a free, informative webinar

Wednesday, June 10th 1pm Eastern Click Here to Register

Speakers

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CRM Software Blog | Dynamics 365

#Fail, downturn, outcome, survive, Thrive, ‘economic, “Current
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