How can we tackle second slowdown?

To save money as quickly as possible in the event of another business downturn, CIOs should work with executives to determine which IT projects scheduled and approved under the current IT budget may be postponed and which may be entirely canceled.

Likewise, once all projects for the next fiscal year are identified, CIOs should determine which of those projects may be postponed and which may be entirely canceled.

As IT leaders learned from the recent recession, executives will once again have to make a multitude of decisions to minimize the effects of a second business downturn.

Since most official national recession declarations are announced well after the actual start of a recession, IT leaders should suggest that their enterprise executives convene now, so that business downturn response guidelines may be established before capital markets, customers, suppliers, creditors, etc. panic in the wake of bad economic news.

Thanks for the referral Ms Archana

There should always be a contingency plan. Some times a product which had to be lauched has to be delayed, some times people are given the “PINK” slip. The recent melt down has made it mandatory that CEO/CIO should be always ready with a plan, which should be practical and easy to implement.