Chairmans Report - The Basics Have Changed
Monday, February 2, 2009 at 07:32PM Back to basics is the mantra I keep hearing from senior leaders and business owners as they prepare for an indeterminate period of turbulence and uncertainty. However, it is not possible for us to return to the basics as the basics we know no longer exist. Our reliance on measurement and technology as a predication for the future has shown to be false and often misleading as companies keep re-adjusting their revenue and profit projections, downwards in nearly all instances, and job layoffs start to take hold. The craziness is compounded when world trade collapses by 45% in a quarter; investors in super funds see their savings reduced by 35% and investors rush to invest in gold as it climbs beyond US$1000 an ounce as other commodities crash. Against these facts how can we make economic sense? The only certainty seems to be the media who keep perpetuating the doom and gloom...