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Planning for an economic downturn while business is still good

1099 compliance in 2020

The economy as we know it can seem like a never-ending roller coaster. There is something unique about companies that survive recession or industry crises and come out thriving. How do they prepare before the downturn? Understanding what actions can be taken to gain market share and keep companies strong can make all the difference. From strategic choices to operational improvements, there are steps business leaders can take to ensure their company is prepared.

What you'll learn

  • Identify what to cut and what to invest in during a crisis.
  • Identify opportunities to pursue even in a downturn.
  • Apply lessons learned from leaders who have weathered the storm.
  • Identify the most critical actions you can take based on the strategy, industry position and financial position of your organization.
  • Apply the principles of managing and motivating your workforce during a downturn.

Who should watch

  • Business owners
  • CEOs and executives
  • Managers

Additional information

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For many leaders, strategic planning is not a meaningful activity. They have seen plans fail and don’t see the point in planning.

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Connect with Marjorie

Marjorie Engle
Senior Vice President,
Organizational Development & Family Business Services

Marjorie Engle's extensive expertise in board governance, executive coaching, organizational analysis and succession and strategic planning has helped closely held and family-owned entrepreneurial businesses throughout the nation succeed.

One of the few consultants in the central US specializing in family business matters, Marjorie holds a Certificate in Family Business Advising from the Family Firm Institute (FFI). The FFI has recognized her expertise and contributions in the area of family business management by naming her an FFI Fellow. She is also a certified coach with Family Business Partners and associate director of the Kansas Family Business Forum, hosted by Wichita State University's Center for Entrepreneurship.