Process frequency. At many companies, strategic planning and portfolio management is an episodic process that happens quarterly or annually. In turbulent times, strategic planning has to happen more frequently.
Kill rate. As times get tough, many companies have to de-prioritize some projects in their portfolio. Companies should make sure they focus on an idea's true potential, or else they will accidentally sacrifice ideas with great long-term potential (see a recent excerpt from The Silver Lining in BusinessWeek for more on this topic)
Focus on "loving the low end." Most companies generally default towards providing better products or services to demanding customers. In tough times, companies have to figure out how they are going to compete for increasingly value-conscious customers. Ask whether you have any explicit strategies focused on "loving the low end" of your market.
