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The historians will have to be very kind to this global financial meltdown and should reward it for a most needed rude awakening call, which is forcing a dramatic change of traditional business models. Right now, all over the world, this crisis is teaching CEOs new things -- first, that it's time to face the music and change the tune, and secondly, an appreciation for finer details and anger management. Why our world suddenly became a massive junkyard is now where brand-new corporate philosophies and structures will harshly collide with the wide range of old business models.
Perhaps, but in many businesses its simply the demand destruction
Posted by: Practical_Econ 2009-03-12 16:21:08 In reply to: Naseem Javed
You make some good points, but for most of us out here in the street economy, demand destruction has been, and will be the issue for some time. The perils of a consumer driven economy have come home to roost. In the U.S. millions of consumers don't really "need" anything, but they love to shop. They have basements, attics and public storage lockers full of stuff & now they are too worried, or too unemployed to continue shopping. Most of of us are not GM. We are lean, mean, and on a shoestring. We will either survive with our wits, or we will die and come back another day. In our world the CEO wears about 10 different hats.
