Competitors with lack of management and long-term planning will start to sell by reducing prices in order to survive in the short run. Receivables will begin to erode and extended terms, which may normally be a prudent method of securing sales, will be ill advises as credit will be sought and given in cases where it should not be. I cannot tell you how many times I have known a solid company that has been dragged into bankruptcy only because of its inability to collect from one of its long-time customers. Single-minded determination to achieve annual growth targets works in an expansionary economy. It does not work when the economy is in a disgrowth mode.
Flexibility is the order of the day.
Customers, suppliers, bankers all react somewhat irrationally in periods of disgrowth. The customer who cuts your order in half will suddenly place their largest order ever and the banker who was on your side yesterday will become anxious tomorrow. Rumours become more important in a recessionary economy. Negative rumours about your business need to be dispelled and rumours about others need to be evaluated. You, your sales force and others must be out of the office and in the field accessing the battlefield on a daily basis.