Whitepaper: IT Strategies For Navigating the Approaching Economic Downturn
- Posted:
- 14:22 25 Jun 2009
- Topics:
- IT Management
Yet the impact of the housing and financial market crisis seems to be spreading to other sectors of the US economy and is likely to begin affecting a wide range of businesses. In a recent Fuqua School of Management Survey of CFOs, 54% of CFOs said that the US is now in recession with another 24% of the remaining CFOs expecting a recession this year. Furthermore, this same group of CFOs expected capital spending to slow to a 3.3% rise with inflation of nearly 3% eating up this increase, with recovery not expected until late 2009.
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For the next 12 to 18 months, we are likely to see a tightening of capital and expense budgets with a significant impact on IT projects and staffing. This paper is intended to explore some of the implications of the emerging economic downturn and to lay out prudent IT management strategies for proactively navigating through the downturn.
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