If you’re running a company or sit on the board of one, you’re likely dealing with several—or all—of the following headaches: a flatlining economy; a gridlocked Europe caught between regulatory ambitions and the need for companies to grow; global tariffs that threaten to upend supply chains; and several ongoing wars. And that’s before you look at your to-do list and realise you still have to complete a 100-page pre-read before next quarter’s meeting.

In such an uncertain and chaotic environment, conventional wisdom may lead you to believe there aren’t many growth opportunities and that staying afloat is all that matters. For some businesses, that absolutely is the strategy—keeping the show on the road. But for others, there’s an opportunity to grow so long as they recognise the ballpark in which they’re playing, and what risks they must manoeuvre around.

In a forthcoming survey on risk from Korn Ferry, CEO and board members said they were least confident about their firm’s ability to manage geopolitical risk, with only 21% saying they were “extremely” or “very” confident. That’s less confidence than they report having in their capability to handle economic volatility or the emergence of artificial intelligence.

I’m not surprised by these levels. Between the burdens of regulatory and societal complexity and geopolitical instability, it can seem like there’s plenty of rhetoric about growth but not enough levers to pull. In today’s environment, the real work of growing amid uncertainty lies in execution—not necessarily in strategy.

Think of wildebeest running away from a lion. The goal is not to outrun the lion: it’s to outrun the other wildebeest. Here’s how to do that today.

1 Get clear about your sector’s reality

In times like these, execution is highly dependent on the sector you operate in. Retailers, for example, are dealing with tariff and supply chain concerns while continuing to fight for a larger consumer wallet share. Energy companies, meanwhile, are being pulled into regulatory battles and, in a number of markets, having to scale back on aggressive renewable energy ambitions. Indeed, Korn Ferry’s survey showed that industry confidence varied quite a bit.

Not surprisingly, tech leaders are quite confident (75%) in their ability to manage AI risk, compared with 37% of respondents overall. Financial services leaders, meanwhile, lead in confidence in talent and skills (61%), but show low confidence when it comes to geopolitical risk (17%).

The upshot: it’s key to know your terrain and understand what growth actually looks like in that area.

2 Sharpen your operations with care

In a slow-growth environment, controlling costs becomes a lifeline. But too many times, companies are in danger of cutting too hard—and into the muscle of the enterprise. Cutting just to cut won’t get you far, but cutting to be as efficient as possible without undermining core capabilities will. It’s time to be disciplined and make sure processes are tight and teams are lean.

3 Constant communication, minimal opacity

Uncertainty often leads us to want to keep a closer tab on things, so it’s not surprising that some boards and C-suites may have the desire to meet more. But I urge you to be careful here. Now isn’t the time to meet more, but to ensure there’s a constant feedback loop occurring between the board and top management. Think of how top military personnel communicate during a war operation: there’s a constant feed of information coming in from various sources, but not as many formal sit-downs. The former can enhance trust, while the latter can diminish it.

It’s also a time to ensure you’re engaging with employees. Between economic fluctuations and the advent of AI, many workers feel they lack job security, much less a feeling of engagement. Our survey found engagement has dropped in terms of priorities for leaders, with only 20% saying that driving engagement is a top leadership skill. That’s not a good thing because if leaders are asking more of people these days—which they are—it’s critical that they make sure people are engaged for the sake of productivity and for generating loyalty.

4 Ask bigger questions about what winning looks like

Sometimes, the best thing a company can do is ask bigger, better questions about what success looks like in a time of uncertainty. After all, leaders can’t come up with good solutions if good questions aren’t asked. For some businesses, asking about exiting a sector because growth has become structurally impossible may be advantageous. For others, it may be asking questions about where to double down in market share. There’s no failure in exiting or in taking a step backwards, so long as it sets you on the right path.

Remember, you don’t need to outrun the lion. But you do need to run.

Dominic Schofield is managing partner of Board & CEO Services at Korn Ferry.