How CIOs should prepare for an economic slowdown

  • Small
  • Medium
  • Large

To be prepared for an economic slowdown, should it happen in 2020 or in years to come, CIOs need manage their investments, according to Chris Howard, chief of research at Gartner, as cited by The Wall Street Journal.

"In my mind, people are anxious about a downturn in the economy. What does it mean to be a leader when that starts to happen? They could shut down innovations and focus on operations," he told WSJ. "How do you keep momentum going?"

CIOs must approach the board with detailed reasons on why they should continue to invest in growth-enabling initiatives. Additionally, CIOs should consider investing in advanced technology that could boost productivity.

Other CIOs suggest broadening geographic footprints to cope with economic fluctuation. Another helpful reminder is to closely analyze agreements with third-party vendors. And, as always, minimize spending on travel and expenses. 

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars