Flexibility is

key 

We are living in a time marked by uncertainty and caution. Factors such as geopolitical conflicts and new regulations have significantly impacted the market in recent years. Despite this, businesses still need to plan strategically for the future. A key to driving growth during uncertain times, as emphasized by experts, is flexibility. 

While market uncertainty exists, both SCB and JP Morgan highlight a sense of optimism and note that many businesses have planned for growth despite these challenges. 

1. Analyze business risks 

A condition for growth during uncertain times is analyzing your business risks by building different scenarios. These scenarios should then be prioritized and evaluated based on their likelihood and impact. 

Developing a variety of scenarios creates better conditions for strategic flexibility and decision-making. This allows businesses to proactively manage changes and uncertainties effectively. 

2. Evaluate your strategy 

To enable the business to adapt operations to identified risks, the next step is to conduct a thorough evaluation of the current strategy. It is crucial to determine whether the strategy allows for quick adaptation to changing circumstances. 

Businesses should question whether their current strategy is sustainable in the long term and whether they can adapt their operations to the identified risks. 

3. Act quickly 

One of the most important strategic changes in uncertain times is to act. By taking proactive measures instead of simply reacting to the market, businesses can drive change. 

This may involve altering business models, adjusting capital structures, and reshaping portfolios. To increase competitiveness, it is essential not only to adopt a proactive market position but also to swiftly adapt and reshape internal structures in response to change. 

4. Ensure resources 

A balanced combination of resources, such as competence and tools, is critical for businesses to act proactively in response to market changes.  

Businesses should therefore ask themselves whether they currently have the right competence and tools to seize the opportunities that uncertainty can offer. 

How can you prepare? 

Achieving profitable growth during uncertain times does not have a one-size-fits-all solution. It depends on factors such as size, life cycle, industry, and much more. Do you and your business know how to approach uncertainty while driving growth? 

COAR Consulting helps your business navigate uncertainties and identify new opportunities for growth. This can range from exploring market trends to mapping out upcoming regulations that may impact your business.