I’ve thoroughly enjoyed Jim Lee’s article on creativity in hard times in APICS e-news (sorry no direct link- go to www.apics.org for a subcription). In addition to offering reasonable approaches to dealing with a downturn he makes a very obvious point that most media seem to forget:
Since World War II, recessions have lasted for approximately 10 months on average while economic expansions have been nearly five times that long. A prudent business strategy should focus on how to cope with the growing pains of a business instead of a market decline.
The media has done it’s best to ignore good economic times when it suits their audience and then to wallow in “never ending” economic downturns. History proves that a long expansion is imminent. Creative, innovative companies are figuring out how to set up for growth. I know- many companies are investing in large technology enablement projects right now in order to leap ahead of their competition when the expansion starts.
Let’s start predicting when the expansion will start. I say October 2008. What do you think?
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