In this report, authors present results that they gathered from more than 150 E&C executives who shared their experiences and strategies from the last downturn, how they focused their energy, and what key lessons they learned.
RALEIGH, NC, March 19, 2020 /24-7PressRelease/ — FMI Corporation, the leading provider of consulting and investment banking services to the Built Environment, is pleased to announce the release of its latest industry research, “Leading Through Business Cycles: Lessons Learned From E&C Executives.” In this report, authors present results that they gathered from more than 150 engineering and construction (E&C) executives who shared their experiences and strategies from the last downturn, how they focused their energy, and what key lessons they learned.
Emily Livorsi, one of the researchers and authors, states, “Our research findings underscore the importance of strong leadership and strategy in the context of planning and preparing for different market cycles. Many company leaders we spoke with admitted to being too slow to adjust company strategy – and act upon that strategy – both before and during the Great Recession and therefore ended up paying a high price.”
Key insights include:
• Six distinct leader types during bull and bear markets. Characteristics of winning leader types revealed a strong focus on operational effectiveness, care and development for people and a forward-looking mindset.
• Companies that invested heavily in strategy and vision-related activities during the Great Recession came out stronger compared to those that didn’t change their strategy or even decreased investments in strategy.
• Only 40% of respondents stated that their strategy is based on an objective view of their business context, suggesting a need to understand more about the market conditions.
• Our data and interviews with executives revealed five key lessons learned from the Great Recession, which are applicable in today’s unfolding events.
To access the study report, please click here.
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