The Importance Of Business Strategy In Unpredictable Times

Anita Nelson is chief strategy officer at Skanska USA Building.

Navigating a business through economic uncertainty can feel like driving at night on an unfamiliar road as the fog rolls in. You can’t rely solely on what worked in the past, but you can’t just sit back and hope for the best, either. So, what do you do? This is where strategy matters most.

In unpredictable times, successful companies are proactive, not reactive. They base decisions on data, communicate clearly and build flexibility into their plans. Leaders aren’t afraid to make bold decisions when it counts and turn uncertainty into opportunity by planning smarter and staying focused on priorities.

Data-Driven Insights

Smart strategy always starts with better information—especially in a volatile economy. This means using both internal and external data to get ahead of business model impacts before they hit. In construction, for example, we watch indicators like the Architecture Billings Index. If that drops, we know contractor demand will likely follow. In addition to traditional metrics like these, a lot of valuable data lives in informal places, such as Salesforce notes or email feedback.

With in-house tools or LLMs like ChatGPT or Gemini, we can sort through this messy, unstructured data and pinpoint emerging themes early. Spotting subtle language shifts around specific topics can help us adjust our immediate priorities and stay ahead of change.

Tracking Market Trends

Another key strategy in uncertain times? Following where capital is flowing…and where it isn’t. Every quarter, my team conducts a comprehensive review of macroeconomic and industry-specific indicators. We look at inflation, interest rates, credit outlooks, job reports and more. Then we break it down by sector to see where momentum is shifting.

Any business can apply this approach. Whether you’re selling enterprise software or consumer goods, understanding real-time market movement gives you a map when everyone else is just trying to follow the herd.

Transparent Communications

Clear communication is always important, especially in periods of volatility. Your customers and employees want more than updates; they want clarity, honesty and a sense that someone is steering the ship.

My team focuses on sharing as much as we reasonably can, whether that’s updates on pricing pressures, material delays or supply chain bottlenecks. We do this through regular market briefings and client reports. We also hold topic-specific webinars where we bring in experts, walk through likely scenarios and talk honestly about what we’re seeing. This helps customers make smarter decisions. It also builds confidence that we’re not just reacting—we’re anticipating, planning and keeping their interests front and center.

Preparing For What’s Next

One of the smartest moves any business can make right now is scenario planning. Whether you call it “war gaming” or building offense playbooks, you need to know what your plan is in case things change rapidly.

With this in mind, we work across departments, from finance to procurement to communications, to define clear trigger points and planned responses. What do we do if interest rates jump again or key suppliers go offline, or if new legislation opens up a surprise opportunity? This preparation includes financial readiness. We make sure to ring-fence a portion of our capital and operating budgets for dynamic deployment. If the right opportunity pops up, we want to be ready.

Leading With Executive Grit

Uncertain times require executive grit: the ability to lead with passion, resilience and a steady hand. You won’t succeed by doing what you did last year, or sometimes even last week. But you also can’t appear erratic or unstable. The challenge is to think big, stay steady and bring your people along with you.

Build trust and inspire confidence with your team and your customers. Show them that you’re not paralyzed but instead are acting with intention and purpose. It’s not enough to have a plan, you must act on it, because in the end, successful business strategy is about action based on careful and strategic planning.

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