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Not enough businesses are prepared for a downturn

More astute businesses keep an eye on cost productivity, practise balance sheet discipline, and go for aggressive growth plays and proactive M&As.

AirAsia was able to grow revenue and maintain profit margins from 2007 through 2012. It beat the overall industry growth rate and more than doubled passenger volume by keeping costs low without compromising on service.

DESPITE a long run of strong economic growth in Singapore and South-east Asia, the next global recession will have serious effects here.

It's a turbulent world, and Singapore relies substantially on exports to China, the US, Europe and elsewhere, as well as capital flows from abroad....

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