Sunday, January 25, 2009

The Top Issues Facing Businesses in 2009

Deloitte has released a report today examining the top issues facing U.S. executives across more than a dozen industries in 2009. In addition, the report includes suggestions to help executives weather the current economic recession and position their organizations for recovery and future growth.

Some of the highlights from the report’s cross-industry issues:

Navigating the Economic Crisis: Forward-thinking companies should focus on maintaining margins, aggressively pursuing cost and operational efficiencies, optimizing their supply chains and evaluating their current situation against long-term objectives so they are prepared to move forward when the economy turns for the better.

Increased Application of Technology to Industry: Innovation will be an important operational theme in 2009, as organizations seek to develop products and services that can help bolster balance sheets or grow market share in a shrinking economy. Increasingly, the application of technology within and across industries is the springboard to innovation and enhanced performance.

Talent Challenges in a Down Market: Even in a period of escalating unemployment, companies in many industries continue to have difficulty attracting and retaining high-quality employees. In 2009, virtually all sectors will need to balance their long-term talent demands with short-term needs to right-size their workforce in an effort to offset the economic downturn.

A New President and Congress: Tackling the nation’s overwhelming economic problems will be the number-one priority for the president, his administration and Congress when they assume office in January 2009. Less clear is how quickly the administration and Congress will address other issues from Obama’s campaign platforms, such as broader health care coverage, clean energy, infrastructure improvements and education reform.

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