In a recession, A/E/C firms can be said to fall into one of two categories: there are those that panic, and those that use tough economic times to remind themselves of the fundamentals of their business.
It’s easy to guess which category you want your firm to be in. But all too often, firms that believe they are acting intelligently discover too late that the fog of economic doom clouded their business judgment and led to poor decision making. When times are this tough and the most drastic of measures are deemed the bare minimum to survive, how do smart A/E/C firms differentiate bold strategy from reflexive overreacting? And how can their marketing and business development plans adapt to unimagined situations without breaking down entirely?