CEOs of large global companies can employ several strategies to mitigate the impact of a potential recession. These include diversifying their product portfolio and markets to spread risk, focusing on core competencies and cutting non-essential costs, investing in technology to improve efficiency and reduce costs, and maintaining a strong cash reserve to weather financial storms. They can also focus on customer retention strategies, as retaining existing customers is often cheaper than acquiring new ones. Additionally, scenario planning can be beneficial, allowing companies to prepare for various potential outcomes and respond quickly and effectively to changes in the economic environment.
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