Starting to drive you crazy again? Welcome back the side topic in lobbies, lunchrooms, telephone calls and even meetings: “What’s the market doing today?” Now it’s the global threat of the coronavirus, early last year and continuing it has been the threat of trade wars. Give it a few months and recession indicators will have their day. And lest we forget, political conventions and polls just might move the market needle too!
In 2007-2008, the skies grew darker and darker and then…the elevator cable snapped. No doubt, the market’s current volatility rekindles some of those memories. Most of us have no control over the equity markets and yet, the markets seem to have control over some of us—it’s hard to ignore the caution signs. Volatility is the new normal and preparing for it is not an option…it’s a must.
We all learned from the hard lessons of 2007/8 and figuring out how to adjust is not as much a challenge as when to do it. Refresh your contingency plans. If your enterprise has excess cash invested in equities, make sure you can still meet your cash needs while we all ride the roller coaster. Consider trimming your inventories, both your own and that held for customers; order less but more often, reconfirm expansion plans and exceed your customers’ expectations. Retaining them is more important than ever; a slowing economy is not exactly the ideal time to find new ones. Be ready to cut the frills, they can always be added back on a moment’s notice and most of all, get everyone on board.
The message is simple: we’ve been there before, we know what to do and we’re going to stay ahead of the curve.
Let’s not forget the personal side. Folks will once again begin checking their investment accounts more often; they will have a need to talk about the market with anyone willing to engage and yet seldom find peace of mind in those conversations. They will be distracted, and your opinion won’t matter—but your counsel will. Tell them that none of us can influence the market, but all of us can influence our continued success. “We’ve got a job to do here and we need to stay focused—let’s be ready if we have to tough this one out.”
Keep your sanity and help others do the same. Focus on the things you can control, put to work the lessons you learned 10-plus years ago and stay the course. It certainly looks like once again, it will be a while before we find calmer waters.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
