How To Improve Business Processes During Times Of Economic Uncertainty

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Nik Froehlich is the CEO and Founder of Saritasa, an Information Technology and Services company, since 2005. Read Nik Froehlich's full executive profile here.

. Widespread talk of a recession can directly affect the economy, even if a full-blown recession never arrives. And when businesses exist in a prolonged state of uncertainty—when they don't know how, or even if, to plan for the future—they're less likely to take big swings, stymying innovation and growth.

Coinbase Revealed To Be Backing BlackRock’s ‘$5 Trillion By 2030’ Crypto Game-Changer After Bitcoin, Ethereum And XRP Price PumpOver 99 99 Of March Madness Brackets Are Already Busted One Day Into NCAA Tournament Strengthening financial resilience is also essential. Businesses need to do a better job of building short-term cash reserves, perhaps by negotiating improved terms with suppliers or refinancing against existing assets. They also need to pay closer attention to potential risks, working to identify them well in advance and establish coherent cross-departmental tolerance levels for critical ones.

 

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