A new strategy document from leading consulting firm McKinsey explains how CEOs can adjust their business strategy to adjust for the price increases influencing the entire consumer market. McKinsey’s guidance takes a multi-pronged approach, encouraging firms to be agile while ensuring that they are engaging in accurate and detailed forecast modeling. By incorporating these approaches, companies can be ready to handle inflation, whether it is a short-term phenomenon or something that becomes more entrenched. Firms that embrace this strategy will not only survive the current inflation-related challenges but will be able to expand their business footprint while competitors may only be able to tread water.
To read more of McKinsey’s guidance, click here.