Different companies react differently to a recession. There is no silver bullet strategy. The right approach is informed by a robust reading of the external dynamics (Industry, economic environment) and the internal state of affairs (financial, market position, organization capability, and culture). Within the fast moving consumer goods Industry- less cyclical and a classic defensive play during a recession- we would perhaps see one of the following two responses.
Which one looks familiar to your Organization? Here are the 2 CEO memos,