Businesses expansion plans facing headwinds

New Delhi: Due to an unpredictable and turbulent economy, leaders will need to tackle planning with discipline and precision in order to trim waste, experiment, and make bold, smart investments in months to come, a report showed on Tuesday.

The CEOs, who plan for 'business as usual' modest spending increases in the year ahead, will fall short, according to Forrester.

"Leaders are faced with navigating a tumultuous business landscape defined by global unrest, supply chain instability and soaring inflation, as well as the ongoing aftermath of the pandemic," said Sharyn Leaver, chief research officer at Forrester.

With 2023 unlikely to look like any past recession, many assumptions about customers and their behaviour will be rendered useless.

"Leaders should invest in new customer data and analytics tools, such as experience research platforms (XPRs), to sharpen audience targeting strategies," the findings showed. Current economic headwinds will require focusing on technology tuned for optimisation and resilience.