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Fortune
Fortune
Lila MacLellan

Fortune 500 boards turn to scenario planning as they brace for economic shocks

Businesswoman in glasses works at a desk with a serious look on her face (Credit: Getty Images)

What will the future look like? And what are the best companies doing to prepare for it?

Pamela Craig, who sits on the board of directors for Progressive, Corning, Merck, and 3M, wrapped up a panel at a leadership roundtable in New York last month with that prompt. Long-term forecasts, she said, have to take into account a long list of business horrors: ongoing inflation, a potential recession, wobbly supply chains, labor challenges, and a weak global economy.

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