STRATEGY
It’s a jungle out there so build resilience and adapt
The gap between uncertainty and sustainable growth is bridged by resilience
Research analysis firm Nomura gave a bleak forecast for SA in April after the abrupt removal of Pravin Gordhan as finance minister, cutting the 2017 GDP forecast from 1.1% to just 0.2%. The country is in a recession, has been downgraded to junk status, per capita wealth has declined steadily and unemployment rates remain high. Focus Economics has warned of a "potential retreat from fiscal prudence, a rise in spending and increased opportunities for patronage", which are unlikely to impress investors. Businesses big and small are facing the same challenge: survival in an unforgiving climate. But, as in a literally dangerous climate, executives must do what nature does: rely on adaptability. Resilience is explained by more than one dictionary as being synonymous with elasticity. It follows then that flexibility is a core part of any resilience strategy. And yet, despite the signs, many South African businesses invest precious little in their resilience. The recent ITWeb/ContinuitySA 2...
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