Companies will respond differently to this recession.

Everyone is shouting. That’s often how it feels when talk of recession is coming from every angle, the IMF, the Bank of England, the World Bank and World Economic Forum. It’s a cacophony of noise that can be very distracting and, in some quarters, lead to knee-jerk reactions. Traditionally this has taken the form of cost cutting exercises, but cutting budgets is only one part of the solution. As we saw during the ‘great recession’ of 2008, what may have worked in the 80s and 90s is not necessarily right for the globally connected economies of the 21st century.

By Mark Wilding, Vice President Global Customer Transformation, ServiceMax.