Economic recessions force the organizations to act quickly and methodically to identify the size of the crises, explore ways to react, and proceed to execute action. For the IT function, the implications of these recessions are declining growth in IT expenditure, budget slashes, and considerable drop in discretionary spending.

In spite of this, these challenging times present opportunities for the Chief Information Officers (CIOs). IT has now evolved as a key driver of business transformation, and can even help firms survive recessions and thrive when the boom resumes. To enable this, the CIOs should consider 5 Focus Areas to work on and make them part of a carefully-planned action plan:

1. Short-term Cost Reduction
2. Investment Optimization
3. HR Agenda Management
4. Business Transformation Enablement
5. IT Function Transformation

The CIOs have a major role to play during downturns. Prepare for the short-term challenges and keep the tabs on long-term opportunities.

The presentation deck also includes some slide templates for you to use in your own business presentations.

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