On the battlefield of a major economic downturn, do you
go on defense, hunkering down until the battle ends? Or
offense, attacking first and fast to capitalize on
competitors' weaknesses? The right answer is not to
answer — at least not until you've examined all
competitive positions.
In the best of times, business resembles a cruel contact
sport. In the worst, it becomes a deadly battlefield for
companies unprepared for the strategic decisions a major
economic downturn requires. Should you dig defensive
trenches to protect your revenues and profit margins
while freezing all investment programs? Or, do you go on
offense, aggressively pursuing opportunities afforded by
competitor weakness?