Since January 2009, we have been running our Opportunities in adversity program to help businesses across the globe act decisively in the economic downturn.
Since its launch, we have held some 40,000 meetings with senior executives. We are continuing to help steer many of these companies to secure a better position for the future.
We have pulled together these insights and tested our findings through an in-depth survey of over 500 Ernst & Young client service partners from our member firms across the globe and additional research by our Global Industry Centers. Combining all we have learned from our clients gives us a unique perspective into how companies are responding to the new environment.
Let’s start with three key points:
- This is not business as usual. Many assumptions have been reset, practices have been changed or are recognized as needing to change.
- Cash remains important, although it is no longer central. Even companies that are “cash rich” have a focus on working capital management and getting the balance of their funding right.
- A new business agenda is emerging. While we might be back from the brink, the economy and market environment is not getting “back to normal.”
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