Jun 02, 2022 Managing Through Bumpy Times
Economic uncertainty ahead requires IT and business leaders to identify value of collaboration investments.
The global economy is facing a growing number of challenges. High inflation rates around the world, driven by rising energy costs, have increased the cost of doing business and decreased disposable income for consumers. Supply chain disruptions in China and elsewhere as a result of the continuing coronavirus pandemic further add to rising costs. To combat inflation, central banks are raising interest rates to slow economic growth. These conditions have led to many companies in the tech space and the broader economy reducing earnings outlooks for the remainder of 2022, creating wide swings in stock prices as investors look for stability over risk.
IT leaders may feel insulated from these conditions, but not for long. History teaches us that the so-called “bursting of the tech bubble” in the early 2000’s and the recession brought on by the financial crisis of 2007-08 created fundamental changes in the ways organizations invest in and use technology. Here are five ways that IT, and more specifically those responsible for communications and collaboration, should prepare for the road ahead.
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