We are in the midst of the biggest single-year economic expansion since the 1960s. That’s the consensus from the International Monetary Fund, various U.S. government agencies, the Federal Reserve and most leading economists. The Conference Board predicts 6% U.S. GDP growth for 2021 after a 3.5% decline in 2020, and the Bureau of Labor Statistics confirms that, in the first quarter of 2021, the country topped that 6% annualized figure.
With almost no institutional memory of those halcyon days of the 1960s remaining in C-suites, however, optimizing for success is uncharted territory for business leaders. Capitalizing on this opportunity will come down to planning, positioning and a careful reading of — and quick reaction to — incoming data.
To drive thinking about how to capitalize on the boom now underway, we’ve identified seven areas that warrant strategic consideration. We’ll discuss each briefly here, with links to some deeper dives, and continue to provide best practices as the year progresses.
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