- Forrester (FORR, Financial) releases a report to help leaders navigate economic volatility.
- Focus areas include tech optimization, brand value, change leadership, and risk management.
- Over 40% of leaders cite economic uncertainty as a top systemic risk.
Forrester (FORR) has unveiled a new report titled "How To Thrive Through Volatility." This report provides guidance for business and technology leaders to successfully navigate the current economic uncertainty characterized by unpredictable market conditions influenced by tariffs, trade wars, cyberthreats, and geopolitical tensions.
According to Forrester, leaders should focus on four critical areas to thrive amidst these volatile times. Firstly, they should optimize technology investments by streamlining operations, eliminating redundant software, and continuing modernization plans to better leverage AI and emerging technologies. This approach favors strategic enhancement over indiscriminate cost-cutting.
Secondly, reaffirming brand value and prioritizing customer segments is crucial. By understanding shifts in customer needs, businesses can adjust their value propositions accordingly.
The third area focuses on excelling at leading change. Leaders are encouraged to foster a culture of continuous learning, transparent communication, and building strategies for employee engagement and upskilling.
Finally, proactive risk management is essential. More than 40% of business and technology leaders identify economic uncertainty as their primary systemic risk concern. Forrester advises managing three types of risk: enterprise risks, ecosystem risks from third-party relationships, and external risks like tariffs, which are beyond direct control.
Sharyn Leaver, Forrester’s chief research officer, emphasizes that while the current volatility stems from multiple uncontrollable forces, there are opportunities for those who effectively optimize their resources, lead change, and manage risks.
