October 12, 2009

The current global recession has taught all of us some hard lessons. While there has been a lot of focus by both consumers and businesses alike to survive in what is being termed by some as an economic “meltdown”, I think and ask myself “Is that really the case?”

Over the past decade, there have been many indicators at different points in time signaling the need for a more rational, practical, value based approach to ‘doing things’. In most cases, they have been neglected due to ignorance, negligence, arrogance, short sightedness or an inflated sense of self importance. More often than not, it was an easy “We are just following what we did before” approach. Historically, we know status quo does not work. We have to adapt, react, readapt and act constantly. Change is the only constant – that’s the basis of evolution. However, smart change or intelligent change is difficult to achieve due to many factors some of which are mentioned above.
Also, what is viewed as a “recession” is just a natural progression. Every business in every sector has a sinusoidal life cycle. When the curve goes up, its good times and when it goes down, it is termed bad times or a recession. The rise and fall is inevitable - You plan for both and ride along.

The critical element to me is evolving a strategy that aligns growth with long term sustainability and helps protect both. A more important factor is for all economic constituents – consumers, businesses, government, general public, regulatory bodies etc to come together, define realistic goals and identify practical paths to success. We need leaders to step up and lead by example. Deliver tangible results. I have always believed Technology is great enabler for innovation and growth. A no holds barred adoption of technology in all aspects of life will ease our transition to the next generation and improve overall quality of life with changing times. Don’t get me wrong- the human element will never die and will continue to be the single most vital component for existence. Technology will help us do things better, faster and cheaper. However, technology is effective only when it is “real”

Bad times are not always bad – it’s just an awakening for us to realize and learn lessons that are long overdue and presents a great opportunity for us to innovate and survive. Just as with every other event in history, this is a passing phase and businesses that succeed will be the ones that get real, set realistic goals and execute on strategies that are in line with the goals. In short, “walk the talk”