Introduction

The global economy is holding (somewhat) steady – but the surface calm conceals deeper turbulence. Interest rates may ease, yet business sentiment remains tentative. Regulatory scrutiny is intensifying. And a new wave of tariffs is causing uncertainty with the potential of forcing many companies to revisit both cost structures and strategic assumptions. While tariffs have long been a negotiating tool in geopolitical contests, their current breadth and unpredictability are raising real concerns — not just about earnings pressure, but about the risk of wider contagion or even a recessionary spillover.

China, meanwhile, continues to defy easy categorisation — a strategic growth engine in select sectors, yet also a source of industrial overcapacity and export-driven price pressure.

In this environment, investors are recalibrating what good looks like. Generic reassurance no longer moves the needle. The conversation is shifting towards sharper questions about pricing architecture, margin durability, regional exposure, and long-term capital deployment.

This publication offers two tools to help leadership teams sharpen their narrative:

  • 10 strategic levers drawn from real conversations across sectors
  • For each, a single board-level question that distils current investor focus

This is not a checklist. It is a lens through which to assess your current positioning — and a prompt to challenge what comes next.

Whether you are refining your equity story, preparing for results, or simply stepping back to reassess the message, we hope this helps bring sharper thinking to the table.

Messaging dashboard
Looking Ahead

2025 will not be defined by consensus narratives. It will be defined by the strategic clarity with which companies respond.

The most compelling equity stories will not just reflect external pressures – they will show how management is thinking through complexity, deploying capital with discipline, and building momentum in the right places.

If this framing resonates – or if you are thinking about how to evolve your story – we would welcome the conversation.