How do the most resilient companies survive - and even thrive - during a slowdown?

Predicting a recession is somewhere between incredibly difficult and impossible, but senior leaders should be thinking through how to be prepared.
And managers should know how to lead a team during difficult economic times.
Many economists are forecasting a downturn, if not a full-blown recession, over the next 12-24 months.
We have seen one of the longest expansionary phases in recent history, leading indicators have softened in
many countries, stock markets are volatile, and several risks cloud the horizon.
Naturally, business leaders are considering how to best position themselves for harsher macroeconomic conditions.
If history is any guide, many companies will prepare too l ittle, too late, and too defensively.
The next downturn will challenge many companies, but a few will emerge stronger, competitively and financially.
Leaders who leverage lessons from the winners in previous downturns, as well as attending to the unique
features of today’s environment will be in the best position to succeed.