Newsletter – February 2009
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"Secure 24/7 Global Access to your Business" |
February 2009 |
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Cutting Bait? Herding Cats? Trimming Fat? Mark W. Foster – 02/12/2009
How’s business? Are you spending a little more time at the helm these days? There is opportunity in chaos and no shortage of painful metaphors to endure as we watch our assets and resources bobbing up along the shoreline, on an endless tide of flotsam and jetsam. Ok, that’s about enough of that! My point is this – although we cannot perhaps control the large economic issues, we can control how we interpret and deal with them. Case in point – I was buying a book today* and the lady at the counter offered this up: "If we continue to spin this economic shake out in a downward motion, that will certainly provide downward momentum, so it may be a bit naive in light of the situation, but it takes as much energy to spin it upwards – and you are happier for it." – Wise book store lady. The next time a colleague or friend who is a new-born and budding economist launches into the latest round of doom and gloom, try putting your fingers in your ears, humming loudly and thinking about all of the things you have discovered/rediscovered about yourself, perhaps your family, your friends and certainly your business - in the last six months. If you are like me, it seems there is also no shortage of lessons to learn – all good. So…reset a course for the opportunities while others are adrift in the chaos. *I am coping quite nicely thanks – buying The Pillars Of The Earth after reading World Without End. (completion backward principal… perhaps?)
Recessions Spur Innovation
Bob Corlett – 02/11/2009
Adversity often brings out the best in people. Our current recession holds the potential for sparking both innovation and collective action for social change. Many people do not realize that the Great Depression sparked enormous management innovation (see ”Recession: The Mother of Invention?”).
Many successful organizations started during an economic slump. Why? Market upheavals provide rich opportunities for innovation. Wary buyers begin looking for more cost-effective ways to meet their needs so new business models gain traction in the market. (For that very reason, I’ve argued that search firms must innovate their way out of this recession).
Some people say a lack of venture capital money is really not a constraint to innovation. Tim O’Reilly in an article in Forbes, sees it this way “many of the great waves of creative destruction . . . didn’t even start with the profit motive. Rather they started with interesting problems and people who wanted to solve them . . . because exploring new ideas was fun.” He suggests that venture capital follows innovation, not the other way around. “The people inventing the future are doing so just because it’s fun.”
In this economy, fear of change might be the biggest danger facing your business. So, here’s the question: are you innovating? Are your employees showing resilience and really swinging for the fences, or just playing it safe?
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| LATEST BUSINESS NEWS (CNN) — Congress is set to send a $789 billion economic stimulus package to President Obama’s desk by Monday after lawmakers worked around a disagreement over education funding in the package. The stimulus deal was struck Wednesday after another furious day of negotiations on Capitol Hill involving House and Senate leaders, Obama administration officials and a trio of moderate Republicans. MORE >>
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