Recessions are always difficult, stressful and disruptive—but this one is like no other in history. In addition to a systemic banking and financial crisis, we are also in the midst of fundamental structural shifts that will lead to dramatic discontinuities in the global economy. As a result, after the inevitable business cycle recovery, we will find ourselves adapting to a new and very different economic order—one that demands different strategies, relationships, and capabilities. This paper describes the fundamental shifts taking place and the actions we must take to survive in the short term while positioning ourselves to thrive in the near future.

Read more articles in this series explaining how business leaders can seize opportunities during these times for lasting change and growth.