Planning for Uncertainty in 2019

January 30th, 2019|Insights|

Going into 2019, there is heightened uncertainty around the global economy thanks to Brexit, USMCA, U.S-China Trade Deal and the politics of oil, to name a few. While it’s impossible to predict the future on exactly how these situations will unfold, there are steps you can take to minimize the potential impact on your business. One way is staying up-to-date on current trends and forecasts with resources such as TEC’s Andersen Economic Report and the CEO Confidence Index. Read the articles below on how you can effectively prepare yourself and your business for the uncertainty that awaits in the year ahead.

Managing when the future is unclear

Business leaders frequently find themselves managing in situations of strategic ambiguity—when it isn’t clear where you’re going or how you’ll get there. Fear, uncertainty, and doubt drive bad behaviour and personal agendas. Even so, companies often succeed or fail based on their managers’ ability to move the organization forward precisely at times when the path ahead is hazy. Here are three things you can do today that will put you in a better position to manage strategic ambiguity.

How to confront uncertainty in your strategy

Why do we shy away from dealing with uncertainty? In running a business, there are many elements that you just can’t control such as the fate of the economy, political events or your competitors’ actions. Yet uncertainty is rarely accounted for in a clear and robust way in the strategy room. Read how to create a strategy that embraces probability.

We could be sleepwalking into a new crisis. How should the business world prepare?

The World Economic Forum released its annual Global Risks Report on Jan 16, 2019. Global risks have become more complex and increasingly interconnected. From geopolitical tensions to technology and cyberattacks, here are four main takeaways from the 2019 report and steps on how to respond.

Davos 2019: Four big themes

Following up from the Global Risks Report, the World Economic Forum’s annual general meeting (Davos 2019) brought together world leaders and CEOs to discuss the future of the global economy. Kevin Sneader, Managing Partner at McKinsey, identifies four major themes for leaders going into 2019, as well as a video discussion on the event with Rik Kirkland, Senior Managing Editor at McKinsey.

Don’t ignore these 10 global business risks in 2019

Business leaders often enjoy acting on their ideas and charging into the future fueled by optimism. But it is also your responsibility to plan for risk. From coordinated cyberattacks on national critical infrastructure to a supply chain disruption of telecommunications components, the number of potential disaster scenarios continues to grow in number and complexity. Lest you get caught unprepared, here’s a list of this year’s key concerns for global business leaders.

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