We just published our March CI and Strategy newsletter, Looking Out. In it, Karen Rothwell had a piece on the importance of maintaining CI capabilities in a down economy. What role is CI playing in your companies amid the economic uncertainty we are facing? Is CI becoming a more important tool to help navigate through a possible recession, or is the CI function on the budget chopping block?
--Ken
Thursday, March 20, 2008
CI in a Down Economy
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3 comments:
Our CI function is linked to our chief economist and our CI and forecasting efforts are going hand-in-hand right now. Thus far we haven't seen any impact of the downturn on our industry (in fact, it could be a giant opportunity), but are closely tracking signs of weakness in our and our competitors' business. With any luck, this means CI is important to leadership, but we'll see what happens if our financials weaken...
I hope that firms do not scale back on their CI activities. We have yet to see an impact except with a couple financial firms that have scaled back overall spending. It will be interesting to watch if scenario planning activities increase as firms look to tools to help them prepare for various economic situations that could unfold.
Like martha's, our industry is likely to do better than most (we hope) in a down economy. Because CI here is positioned as a revenue-building function, it also is easier for us to show ROI. Down economy or not, our company's percentage of the entire market is small enough that even if the market were to shrink, we could still grow by aggressively taking share from competitors. Hopefully, we can make this work.
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