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"I was taught to never waste a good recession," Angela Ahrendts remarked during her tenure as the CEO of global luxury fashion house Burberry. Although recessionary cycles present difficult challenges for almost everyone, many leaders capitalize on them as unconventional times for becoming more innovative, more competitive and more relevant, setting a strategic course for sunnier days.

We've been living in an unprecedented period of economic expansion by historical terms, which means a downturn could be around the corner. Here are five practical and actionable things that could help you survive challenging market conditions and stay relevant, differentiated and indispensable.

Look, listen, learn

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