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Making and executing strategy during such times requires fast footwork and a rapid reassessment of the way circumstances change with each major event. Responsible Executives need to determine whether to take an offensive or defensive approach, to decide on the relative importance of reducing costs, increasing investments, creating financial flexibility, and seeking near-term revenue growth. Hitachi Consulting has used its experience of past recessions in conducting accelerated cost reduction, and history of product innovation and business model incubation, to develop an action orientated programme, specific to Financial Services, to ensure business will both survive the near term challenges and thrive on the long term opportunities.
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