Is recession in the air?
Recent reports predict that a recession is looming on the horizon. Freight labor unrest has gained global proportions and severely impacting global supply chains. The Biden government managed to broker an agreement between US freight rail companies and unions representing rail workers; to avert the first US national rail strike in 30 years. The strike would have affected millions of Americans and resulted in a USD 2 Billion loss to the American economy every day.
However, the scenario does not seem bright. We need to dig deeper into our proven playbook of success in the face of slower growth and higher inflation rates.
Interestingly, McKinsey Global Institute’s research reveals that growth-oriented leaders react decisively to disruptions that can be turned into opportunities. The leaders who choose growth; think, act, and speak differently. Their commitment to development ensures that they stay resolutely faithful to their growth vision in the face of unexpected challenges. They even turn disruptions to their advantage, which are called “timely jolts”, these disruptions can eventually build organizational resilience and agility to respond to change.
I want to draw attention to the fact that growth-oriented team members have the power to break inertia as they set to prioritize progress and advancement. It’s a choice we make, and it can shape our behavior and mindset and create a ripple effect across the entire organization.
We should rely on scenario planning and prepare a set of long-term moves to help us thrive in a tight environment. Research reveals that a strong sustainability strategy can accelerate growth by creating value in a slowing economy. As we plan for the future, let’s adjust our business goals to capture segments with green growth potential.
A Target Story
Existing businesses have achieved impressive growth during recessions of the past. USbased retailer Target is one such example. In 2000, Target strengthened its investments by adding new locations, products, and partnerships. This led to double-digit growth in both sales and profits. In 2008, Target added more fresh meat and produced in its food category after analyzing customer trends. Since then, the food category has generated billions in the company’s annual revenue. The pandemic times were also a windfall season for Target. The company boosted its online services, accelerating its ability to use stores as distribution centers and enabling online-order pickups from their parking lots.
Modern yet Traditional
Let’s work on building greater organizational cohesion and resilience to weather the storms ahead of us. With more than 25 years of experience in the logistics arena, let’s remember to keep our feet rooted in our traditions as we straddle to conquer the future. Our feet are firmly planted as we evolve and change to keep up with the times. The foot on the floor is kept firm for the other that takes the step forward. At CSS, we are modern yet traditional at the same time.
As we end 2022, I thank our network partners for their continuous backing. I also want to thank our valuable customers, bankers, and business associates who have enabled us to come thus far.
Last but not least, I want to thank every member of Team CSS, you are the heroes of the CSS growth story and should continue to steer us towards success.
I want to end with a quote from the famous American psychologist Abraham Maslow, “One can choose to go back toward safety or forward toward growth. Growth must be chosen again and again; fear must be overcome again and again.”