Inflation is headed up over 8% per year and could go over 10% in the United States. Interest rates are rising in response, and the economy could tumble into a recession (two consecutive quarters of contraction). Boards need to help their companies develop the resilience to survive these changes and prepare them to adapt to a changing environment. One step towards doing this is to ask some basic questions about pricing, as the author explains.
Few chief executives have faced the challenge of leading a company through an inflationary spike like the one we are currently experiencing. Lessons from strong leaders and bold action can help CEOs make the decisions that only they can make.