From Risk to Resilience: How MacKay’s CEOs Are Adapting to Economic Volatility

With shifting trade dynamics, tariffs, and economic uncertainty, many CEOs and executives across MacKay CEO Forums are taking decisive action to protect and strengthen their businesses. MacKay Master Chair Nico Human has compiled an invaluable resource based on strategies shared by leaders across multiple forum groups. These insights offer practical steps that businesses can implement to navigate uncertainty and maintain resilience.

Strengthening Relationships

• Build and nurture strong relationships with suppliers, partners, and stakeholders.
• Collaborate with both Canadian and US partners to reinforce business ties.
• Ensure you have a reliable brokerage at the border to facilitate smooth trade.
• Avoid retaliatory actions against US suppliers—focus on long-term relationships.

Communication Is Key

• Keep employees informed about the challenges and the company’s strategic response.
• Discuss the situation at Board meetings and prioritize it on leadership agendas.
• Stay positive and professional in communications—avoid political rhetoric.
• Filter out unnecessary noise and focus on what truly impacts the business.
• If you have teams in both Canada and the US, tailor communication strategies accordingly.

Strategic Planning and Adaptation

• Conduct scenario planning with best, middle, and worst-case scenarios.
• Perform sensitivity analyses to assess financial exposure.
• Identify opportunities, such as expanding into new products or services.
• Capitalize on Canadian market opportunities, including interprovincial trade.
• Update pricing and quotes to reflect market changes.
• Diversify raw materials and explore local sourcing to mitigate supply chain risks.
• Reduce costs proactively: tighten budgets, reassess bonuses, and control spending.
• Make necessary team changes—don’t delay tough decisions.
• Refocus on core business strengths and streamline operations.
• Shift to shorter planning cycles for more agile decision-making.
• Conduct quarterly forecasting and SWOT analyses to prepare for different outcomes.
• Consider establishing a US presence to mitigate tariff impacts.
• Explore duty drawbacks for exclusive US imports to optimize costs.

Resources for Business Leaders

MacKay CEO Forums leaders are leveraging key resources to stay ahead of these challenges:

• Great By Choice by Jim Collins – insights on thriving in uncertainty.
• Stockdale Paradox: A Message for Uncertain Times – a short, must-watch video.
• The 8 Cashflow Drivers framework (EOS tool) for financial resilience.
• Trade and tariff guidance from A & A Custom Brokers and PCB’s US/Canada Trade Hotline.
• Tariff Negotiation Tips (LinkedIn Post) from Kundan Joshi of The AppLab, based on engagement with US policymakers.

Actionable Negotiation Strategies

For those dealing directly with trade negotiations, these strategies—derived from high-level discussions with US leaders—can help:

• Maintain composure and respond strategically.
• Show strength without being confrontational.
• Separate the policy issues from personal conflicts.
• Frame negotiations as a win-win, allowing all parties to claim success.
• Offer sector-specific exemptions and investment commitments.
• Make strong initial offers to set the right tone.
• Engage in private diplomacy while projecting public strength.
• Focus on long-term stability rather than short-term gains.

A Shared Experience Approach to Success

The strength of the MacKay CEO Forums community is in its shared knowledge, experiences, and collaborative problem-solving. The strategies outlined here reflect real-world solutions being implemented by CEOs and executives across multiple forum groups. By leveraging these insights, business leaders can proactively safeguard their companies and position themselves for long-term success, even in uncertain times.