The document discusses strategies for businesses during times of economic uncertainty. It argues that while traditional markets will change permanently due to the crisis, new opportunities will also emerge. It recommends taking a strategic approach by considering different scenarios of government and consumer behavior, identifying areas of resilience, and making bets in sectors with high potential upside. Scenario planning is presented as a tool to address uncertainty by exploring various outcomes. Four scenarios are described that could potentially develop: Euro-merica, Lever Lever Land, Back to Basics, and Do-Over.
Towards Recovery - What Sales Managers and Consumers Tell Us, February 2010Amarach Research
A presentation of findings from recent surveys of sales managers and directors in Ireland about prospects for 2010. As well as details of recent consumer surveys relating to spending drivers and intentions.
At Sisel our compensation plan is a very special deal for everyone! We admire and encourage the quality of character that fosters an attitude of self-reliance and independence.
We therefore respectfully decline any requests for:
•Additional Compensation
•Special Inside Deals
•Bridge Money
1. Multiplus saw significant increases in points issued and redeemed in 1Q11 compared to 1Q10 and 4Q10, while breakage rates remained stable.
2. Financial highlights included a 47.6% increase in gross billings and a 493.3% increase in net revenue compared to 1Q10. Adjusted EBITDA grew 54.6% versus 1Q10.
3. Net income increased 847.8% year-over-year to R$70.9 million, with margins of 29.3%, as Multiplus continued expanding its coalition partnerships network.
Sales Webinar | The Global Sales Industry - Where to Spend Your Time in 2013 Altify
Are you looking for a simple way to see how your sales organization compares? Do you want the inside track on how you should best compete in 2013? Preview our global sales effectiveness survey, covering the global trends in sales success, how the world's major sales industries compare, and the best selling opportunities in your region.
International reported strong 2008 results despite a challenging environment. Premiums, fees, and other revenue are expected to grow from $4.1 billion in 2007 to a range of $4.525-$4.625 billion in 2008. Operating earnings are projected to be $480-500 million in 2008, down from $568 million in 2007. International will continue pursuing growth through geographic, business model, product, and distribution diversification.
Scottish Public Opinion Monitor - October 2012Ipsos UK
Support for Scottish independence has fallen to 30% among those certain to vote, down five points since June. Support is highest among men, those aged 35-54, and SNP supporters, though it has declined nine points since January. A 35-year trend shows support fluctuating between 20-40% with some dips corresponding to major political events.
- Mphasis Limited is an Indian IT & BPO services provider and subsidiary of Hewlett Packard (HP), with HP owning 61% stake.
- The document provides an analysis of Mphasis' business segments, financial performance, valuation and recommendations.
- Based on a projected FY12 P/E multiple of 15, the fair value for Mphasis is estimated to be Rs. 723 per share. The document recommends a 'HOLD' rating on the stock.
Ideagen reported preliminary results that exceeded expectations, with revenue of £2.3m, adjusted PBT of £0.5m, and net cash of £0.8m. Ideagen has rebranded and restructured its recent acquisitions under a single Ideagen brand focused on content management. It expects continued organic and acquisition growth in the fragmented UK market. The company delivered results ahead of forecasts and maintains a net cash position, setting a positive tone for future performance.
Towards Recovery - What Sales Managers and Consumers Tell Us, February 2010Amarach Research
A presentation of findings from recent surveys of sales managers and directors in Ireland about prospects for 2010. As well as details of recent consumer surveys relating to spending drivers and intentions.
At Sisel our compensation plan is a very special deal for everyone! We admire and encourage the quality of character that fosters an attitude of self-reliance and independence.
We therefore respectfully decline any requests for:
•Additional Compensation
•Special Inside Deals
•Bridge Money
1. Multiplus saw significant increases in points issued and redeemed in 1Q11 compared to 1Q10 and 4Q10, while breakage rates remained stable.
2. Financial highlights included a 47.6% increase in gross billings and a 493.3% increase in net revenue compared to 1Q10. Adjusted EBITDA grew 54.6% versus 1Q10.
3. Net income increased 847.8% year-over-year to R$70.9 million, with margins of 29.3%, as Multiplus continued expanding its coalition partnerships network.
Sales Webinar | The Global Sales Industry - Where to Spend Your Time in 2013 Altify
Are you looking for a simple way to see how your sales organization compares? Do you want the inside track on how you should best compete in 2013? Preview our global sales effectiveness survey, covering the global trends in sales success, how the world's major sales industries compare, and the best selling opportunities in your region.
International reported strong 2008 results despite a challenging environment. Premiums, fees, and other revenue are expected to grow from $4.1 billion in 2007 to a range of $4.525-$4.625 billion in 2008. Operating earnings are projected to be $480-500 million in 2008, down from $568 million in 2007. International will continue pursuing growth through geographic, business model, product, and distribution diversification.
Scottish Public Opinion Monitor - October 2012Ipsos UK
Support for Scottish independence has fallen to 30% among those certain to vote, down five points since June. Support is highest among men, those aged 35-54, and SNP supporters, though it has declined nine points since January. A 35-year trend shows support fluctuating between 20-40% with some dips corresponding to major political events.
- Mphasis Limited is an Indian IT & BPO services provider and subsidiary of Hewlett Packard (HP), with HP owning 61% stake.
- The document provides an analysis of Mphasis' business segments, financial performance, valuation and recommendations.
- Based on a projected FY12 P/E multiple of 15, the fair value for Mphasis is estimated to be Rs. 723 per share. The document recommends a 'HOLD' rating on the stock.
Ideagen reported preliminary results that exceeded expectations, with revenue of £2.3m, adjusted PBT of £0.5m, and net cash of £0.8m. Ideagen has rebranded and restructured its recent acquisitions under a single Ideagen brand focused on content management. It expects continued organic and acquisition growth in the fragmented UK market. The company delivered results ahead of forecasts and maintains a net cash position, setting a positive tone for future performance.
10 Insightful Quotes On Designing A Better Customer ExperienceYuan Wang
In an ever-changing landscape of one digital disruption after another, companies and organisations are looking for new ways to understand their target markets and engage them better. Increasingly they invest in user experience (UX) and customer experience design (CX) capabilities by working with a specialist UX agency or developing their own UX lab. Some UX practitioners are touting leaner and faster ways of developing customer-centric products and services, via methodologies such as guerilla research, rapid prototyping and Agile UX. Others seek innovation and fulfilment by spending more time in research, being more inclusive, and designing for social goods.
Experience is more than just an interface. It is a relationship, as well as a series of touch points between your brand and your customer. Here are our top 10 highlights and takeaways from the recent UX Australia conference to help you transform your customer experience design.
For full article, continue reading at https://yump.com.au/10-ways-supercharge-customer-experience-design/
http://inarocket.com
Learn BEM fundamentals as fast as possible. What is BEM (Block, element, modifier), BEM syntax, how it works with a real example, etc.
How to Build a Dynamic Social Media PlanPost Planner
Stop guessing and wasting your time on networks and strategies that don’t work!
Join Rebekah Radice and Katie Lance to learn how to optimize your social networks, the best kept secrets for hot content, top time management tools, and much more!
Watch the replay here: bit.ly/socialmedia-plan
The document discusses how personalization and dynamic content are becoming increasingly important on websites. It notes that 52% of marketers see content personalization as critical and 75% of consumers like it when brands personalize their content. However, personalization can create issues for search engine optimization as dynamic URLs and content are more difficult for search engines to index than static pages. The document provides tips for SEOs to help address these personalization and SEO challenges, such as using static URLs when possible and submitting accurate sitemaps.
Lightning Talk #9: How UX and Data Storytelling Can Shape Policy by Mika Aldabaux singapore
How can we take UX and Data Storytelling out of the tech context and use them to change the way government behaves?
Showcasing the truth is the highest goal of data storytelling. Because the design of a chart can affect the interpretation of data in a major way, one must wield visual tools with care and deliberation. Using quantitative facts to evoke an emotional response is best achieved with the combination of UX and data storytelling.
This document summarizes a study of CEO succession events among the largest 100 U.S. corporations between 2005-2015. The study analyzed executives who were passed over for the CEO role ("succession losers") and their subsequent careers. It found that 74% of passed over executives left their companies, with 30% eventually becoming CEOs elsewhere. However, companies led by succession losers saw average stock price declines of 13% over 3 years, compared to gains for companies whose CEO selections remained unchanged. The findings suggest that boards generally identify the most qualified CEO candidates, though differences between internal and external hires complicate comparisons.
This is the presentation given to the Geeks on a Plane 500 Startups Group (GOAP) in Mexico City on Saturday May 12, 2012 by Paul Ahlstrom. This is a summary of the internal market research that led Alta to create a two investment funds in Mexico (Alta Growth Capital and Alta Ventures Mexico) (Excuse the formatting issues... We call this our kitchen sink version and although it is fairly complete, it was never meant for external publication..) Enjoy - It will be posted here for a limited time
IPSOS presentation to IABC Calgary March 19 2009Doug Lacombe
IPSOS presentation to IABC by Tim Moro, SVP IPSOS North America, Calgary March 19 2009. Uploaded and shared with permission from Mr. Moro by Doug Lacombe, MBA.
The document discusses forward-looking statements and risks associated with forecasts and predictions. It notes that Aimia is a multinational loyalty company that offers coalition loyalty programs, loyalty data analytics, and proprietary loyalty services worldwide. It delivers value to commercial partners in various industries in many countries and regions.
This document discusses IBM's transformational journey from 1993 to 2010. It summarizes that IBM transitioned from a hardware-focused company generating 49% of revenue from hardware in 1993 to a services-focused company generating 57% of revenue from services in 2010. It also notes that IBM acquired over 116 companies since 2002 to transform its business mix, divested some business units, and saw its revenue grow 59% to nearly $100 billion over this period.
Be one solutions_-_company_presentationAnochi.com.
Be One Solutions AG is an international SAP consulting firm with subsidiaries around the world. They specialize in implementing and supporting SAP Business One software for large multinational companies. Their services include worldwide rollouts of SAP Business One over several years along with integration to other systems and local support in over 40 countries. They have experience implementing SAP Business One across various industries for companies operating in North America, Europe, Asia, South America, Africa, and the Middle East.
What is Your Competition Doing? Are You an Industry Customer Experience Leader? Join Beyond Philosophy to See the Results of the 2011 Global Customer Experience Management Survey
• Current insights on customer experience from experts and CxOs from across the globe
• Analysis of 8,000 customer experience leaders
Program
Join Steven Walden, Beyond Philosophy's Senior Head of Research, and Colin Shaw, Founder and CEO, as they reveal the results of the 2011 Global Customer Experience Management Survey. The research will pull back the curtain on where the industry stands today, answering questions such as:
• Which industries and regions spend the most on customer experience?
• What are the drivers and challenges the customer experience industry faces as it further develops?
• What companies have seen the biggest customer experience growth, by industry?
• Where is customer experience management most needed? What industry? What country? What companies?
In addition, they discuss topics such as:
• What industries will see the greatest growth in customer experience over the next several years?
• What will be the next great customer experience advancement?
• What is the valuable element of a company's customer experience program? How does it differ by industry or region?
• How will social media affect the way companies approach customer experience?
Learning Objectives
• Learn about the Beyond Philosophy 7-stage Customer Experience Maturity model.
• Discover which industries and countries are concentrating on enhancing the customer experience.
• Learn how to overcome common problems that get in the way of successful customer experiences.
• Explore the pace of growth and the state of customer experience development, broken down by geographic regions.
Ormita Commerce Network Corporate Presentation Summary.
Provides information about how Ormita can provide solutions to recession-proof a business through exchanging excess capacities in return for already budgeted for goods and services.
Volunteering is an enormous renewable resource for solving societal problems, but it lacks reliable data. Current methods of measuring volunteering are inconsistent and produce divergent results. The UN has called for establishing the economic value of volunteering through improved measurement. A new handbook provides a standardized approach for measuring volunteering through labor force surveys to facilitate comparisons and clarify volunteering's scale and role. Implementation is underway in Europe and could help mobilize volunteers and engage policymakers if expanded to more countries.
Lantmännen Unibake saw changing consumer trends in 2009 due to the financial crisis, including more discount shopping and down-trading. The company focused on strengthening its position in Europe and North America by expanding in key markets like the UK and Scandinavia. Bake-off products were identified as an area for future growth as consumers seek convenience.
Behaviour Change: What role do we want governments to play? An international ...Ipsos UK
How governments try to shape the behaviours of their citizens is something that has been much discussed over the past few years. Key to the debate is the extent to which people think it is acceptable for their government to intervene in their choices and what this intervention should look like. This presentation was delivered at our March 2012 event "Acceptable Behaviour? Public opinion on behaviour change policy".
Quadric exists to increase the contribution of business to society. We are an international team of analysts, consultants and creative professionals helping companies improve performance while becoming better places to work. Using the Quadric@ framework, we help companies drive volume and pricing, influence future trends, guide innovation and integrate acquisitions more effectively.
China Lte Summit Rob Van Den Dam Final May 5 2011Rob Van Den Dam
This document discusses trends in the mobile communications industry from 2011-2015. It summarizes findings from an IBM consumer survey of 22 countries. The key points are:
1) Emerging markets are increasingly driving growth in the mobile industry, with countries like China, India, Brazil and Russia experiencing much higher revenue growth than Western Europe, Japan and North America.
2) Customers in emerging countries expressed significantly higher sentiment around increasing spending on mobile broadband and mobile telecom services over the next 2-3 years compared to developed markets.
3) The document outlines four potential future scenarios for the mobile industry between 2011-2015 based on trends and changing revenue/profitability outlooks.
Global Megatrends at Global PR Summit 2012PRovoke Media
1) Five major trends will impact the global environment in 2012 and beyond: the age of austerity in developed nations, the shift in economic gravity towards emerging markets, the impact of population aging and youth bulges, increasing global urbanization and connectivity ("global swarming"), and the rise of technology-powered hyperglobalization.
2) Emerging markets will see stronger growth and rising incomes and consumption, challenging the historic dominance of developed nations. China in particular will surpass the US in retail sales and urbanization.
3) Demographic shifts will also impact global dynamics, with emerging markets having younger populations compared to aging societies in many developed countries. Rapid urbanization will be a major driver
The document introduces Grey/G2, a global advertising agency network with 147 offices in 93 countries and over 8,000 employees worldwide. It outlines 10 reasons for working with Grey/G2, including their worldwide network of communication professionals, creative ideas, proven effectiveness, and commitment to clients. The document also provides details on Grey/G2's ownership structure, locations, services, clients, and awards.
The speech was delivered in "New Era, New TV" seminar organized by Orange Labs Beijing. The presentation focuses on the business models and market trends of online video/TV and mobile TV.
– February results continued the eight month decline in unit sales (avg -2.6%) across fast moving consumer goods (FMGC) as consumers continue to cut back on shopping trips in the U.S..– Additionally, while the percent change in basket ring increased 2.3% in the U.S., they are off from the January increase of 3.9% possibly due to declining prices as many retail channels did see enhanced shopping frequency in the 1st two months of the year – There was a noticeable up tick in store brands, given the 6.4% increase in unit sales across all store brands in the U.S.. This is the highest lift we have seen since August 2008 as the gap between branded items and store brands widened. – Despite the shift to store brands in the US, National Brands in Canada are still holding their share (81.2) as they capitalize on the consumers need for value through increased feature pricing activity. Over the past year unit sales on feature price increased 8% for National Brands to now account for 38.5% of unit sales. PL remained flat reporting a 1% decline in feature price sales.– Canadians are still shying away from multiple store visits. One stop shopping continues to expand – they are making 4% fewer shopping trips but once in store, they are spending 6% more, driven primarily by rising prices.– Expect March sales to be negatively impacted by the seasonal adjustment of Easter, which in 2008 occurred on March 23rd vs April 12 in 2009.
10 Insightful Quotes On Designing A Better Customer ExperienceYuan Wang
In an ever-changing landscape of one digital disruption after another, companies and organisations are looking for new ways to understand their target markets and engage them better. Increasingly they invest in user experience (UX) and customer experience design (CX) capabilities by working with a specialist UX agency or developing their own UX lab. Some UX practitioners are touting leaner and faster ways of developing customer-centric products and services, via methodologies such as guerilla research, rapid prototyping and Agile UX. Others seek innovation and fulfilment by spending more time in research, being more inclusive, and designing for social goods.
Experience is more than just an interface. It is a relationship, as well as a series of touch points between your brand and your customer. Here are our top 10 highlights and takeaways from the recent UX Australia conference to help you transform your customer experience design.
For full article, continue reading at https://yump.com.au/10-ways-supercharge-customer-experience-design/
http://inarocket.com
Learn BEM fundamentals as fast as possible. What is BEM (Block, element, modifier), BEM syntax, how it works with a real example, etc.
How to Build a Dynamic Social Media PlanPost Planner
Stop guessing and wasting your time on networks and strategies that don’t work!
Join Rebekah Radice and Katie Lance to learn how to optimize your social networks, the best kept secrets for hot content, top time management tools, and much more!
Watch the replay here: bit.ly/socialmedia-plan
The document discusses how personalization and dynamic content are becoming increasingly important on websites. It notes that 52% of marketers see content personalization as critical and 75% of consumers like it when brands personalize their content. However, personalization can create issues for search engine optimization as dynamic URLs and content are more difficult for search engines to index than static pages. The document provides tips for SEOs to help address these personalization and SEO challenges, such as using static URLs when possible and submitting accurate sitemaps.
Lightning Talk #9: How UX and Data Storytelling Can Shape Policy by Mika Aldabaux singapore
How can we take UX and Data Storytelling out of the tech context and use them to change the way government behaves?
Showcasing the truth is the highest goal of data storytelling. Because the design of a chart can affect the interpretation of data in a major way, one must wield visual tools with care and deliberation. Using quantitative facts to evoke an emotional response is best achieved with the combination of UX and data storytelling.
This document summarizes a study of CEO succession events among the largest 100 U.S. corporations between 2005-2015. The study analyzed executives who were passed over for the CEO role ("succession losers") and their subsequent careers. It found that 74% of passed over executives left their companies, with 30% eventually becoming CEOs elsewhere. However, companies led by succession losers saw average stock price declines of 13% over 3 years, compared to gains for companies whose CEO selections remained unchanged. The findings suggest that boards generally identify the most qualified CEO candidates, though differences between internal and external hires complicate comparisons.
This is the presentation given to the Geeks on a Plane 500 Startups Group (GOAP) in Mexico City on Saturday May 12, 2012 by Paul Ahlstrom. This is a summary of the internal market research that led Alta to create a two investment funds in Mexico (Alta Growth Capital and Alta Ventures Mexico) (Excuse the formatting issues... We call this our kitchen sink version and although it is fairly complete, it was never meant for external publication..) Enjoy - It will be posted here for a limited time
IPSOS presentation to IABC Calgary March 19 2009Doug Lacombe
IPSOS presentation to IABC by Tim Moro, SVP IPSOS North America, Calgary March 19 2009. Uploaded and shared with permission from Mr. Moro by Doug Lacombe, MBA.
The document discusses forward-looking statements and risks associated with forecasts and predictions. It notes that Aimia is a multinational loyalty company that offers coalition loyalty programs, loyalty data analytics, and proprietary loyalty services worldwide. It delivers value to commercial partners in various industries in many countries and regions.
This document discusses IBM's transformational journey from 1993 to 2010. It summarizes that IBM transitioned from a hardware-focused company generating 49% of revenue from hardware in 1993 to a services-focused company generating 57% of revenue from services in 2010. It also notes that IBM acquired over 116 companies since 2002 to transform its business mix, divested some business units, and saw its revenue grow 59% to nearly $100 billion over this period.
Be one solutions_-_company_presentationAnochi.com.
Be One Solutions AG is an international SAP consulting firm with subsidiaries around the world. They specialize in implementing and supporting SAP Business One software for large multinational companies. Their services include worldwide rollouts of SAP Business One over several years along with integration to other systems and local support in over 40 countries. They have experience implementing SAP Business One across various industries for companies operating in North America, Europe, Asia, South America, Africa, and the Middle East.
What is Your Competition Doing? Are You an Industry Customer Experience Leader? Join Beyond Philosophy to See the Results of the 2011 Global Customer Experience Management Survey
• Current insights on customer experience from experts and CxOs from across the globe
• Analysis of 8,000 customer experience leaders
Program
Join Steven Walden, Beyond Philosophy's Senior Head of Research, and Colin Shaw, Founder and CEO, as they reveal the results of the 2011 Global Customer Experience Management Survey. The research will pull back the curtain on where the industry stands today, answering questions such as:
• Which industries and regions spend the most on customer experience?
• What are the drivers and challenges the customer experience industry faces as it further develops?
• What companies have seen the biggest customer experience growth, by industry?
• Where is customer experience management most needed? What industry? What country? What companies?
In addition, they discuss topics such as:
• What industries will see the greatest growth in customer experience over the next several years?
• What will be the next great customer experience advancement?
• What is the valuable element of a company's customer experience program? How does it differ by industry or region?
• How will social media affect the way companies approach customer experience?
Learning Objectives
• Learn about the Beyond Philosophy 7-stage Customer Experience Maturity model.
• Discover which industries and countries are concentrating on enhancing the customer experience.
• Learn how to overcome common problems that get in the way of successful customer experiences.
• Explore the pace of growth and the state of customer experience development, broken down by geographic regions.
Ormita Commerce Network Corporate Presentation Summary.
Provides information about how Ormita can provide solutions to recession-proof a business through exchanging excess capacities in return for already budgeted for goods and services.
Volunteering is an enormous renewable resource for solving societal problems, but it lacks reliable data. Current methods of measuring volunteering are inconsistent and produce divergent results. The UN has called for establishing the economic value of volunteering through improved measurement. A new handbook provides a standardized approach for measuring volunteering through labor force surveys to facilitate comparisons and clarify volunteering's scale and role. Implementation is underway in Europe and could help mobilize volunteers and engage policymakers if expanded to more countries.
Lantmännen Unibake saw changing consumer trends in 2009 due to the financial crisis, including more discount shopping and down-trading. The company focused on strengthening its position in Europe and North America by expanding in key markets like the UK and Scandinavia. Bake-off products were identified as an area for future growth as consumers seek convenience.
Behaviour Change: What role do we want governments to play? An international ...Ipsos UK
How governments try to shape the behaviours of their citizens is something that has been much discussed over the past few years. Key to the debate is the extent to which people think it is acceptable for their government to intervene in their choices and what this intervention should look like. This presentation was delivered at our March 2012 event "Acceptable Behaviour? Public opinion on behaviour change policy".
Quadric exists to increase the contribution of business to society. We are an international team of analysts, consultants and creative professionals helping companies improve performance while becoming better places to work. Using the Quadric@ framework, we help companies drive volume and pricing, influence future trends, guide innovation and integrate acquisitions more effectively.
China Lte Summit Rob Van Den Dam Final May 5 2011Rob Van Den Dam
This document discusses trends in the mobile communications industry from 2011-2015. It summarizes findings from an IBM consumer survey of 22 countries. The key points are:
1) Emerging markets are increasingly driving growth in the mobile industry, with countries like China, India, Brazil and Russia experiencing much higher revenue growth than Western Europe, Japan and North America.
2) Customers in emerging countries expressed significantly higher sentiment around increasing spending on mobile broadband and mobile telecom services over the next 2-3 years compared to developed markets.
3) The document outlines four potential future scenarios for the mobile industry between 2011-2015 based on trends and changing revenue/profitability outlooks.
Global Megatrends at Global PR Summit 2012PRovoke Media
1) Five major trends will impact the global environment in 2012 and beyond: the age of austerity in developed nations, the shift in economic gravity towards emerging markets, the impact of population aging and youth bulges, increasing global urbanization and connectivity ("global swarming"), and the rise of technology-powered hyperglobalization.
2) Emerging markets will see stronger growth and rising incomes and consumption, challenging the historic dominance of developed nations. China in particular will surpass the US in retail sales and urbanization.
3) Demographic shifts will also impact global dynamics, with emerging markets having younger populations compared to aging societies in many developed countries. Rapid urbanization will be a major driver
The document introduces Grey/G2, a global advertising agency network with 147 offices in 93 countries and over 8,000 employees worldwide. It outlines 10 reasons for working with Grey/G2, including their worldwide network of communication professionals, creative ideas, proven effectiveness, and commitment to clients. The document also provides details on Grey/G2's ownership structure, locations, services, clients, and awards.
The speech was delivered in "New Era, New TV" seminar organized by Orange Labs Beijing. The presentation focuses on the business models and market trends of online video/TV and mobile TV.
– February results continued the eight month decline in unit sales (avg -2.6%) across fast moving consumer goods (FMGC) as consumers continue to cut back on shopping trips in the U.S..– Additionally, while the percent change in basket ring increased 2.3% in the U.S., they are off from the January increase of 3.9% possibly due to declining prices as many retail channels did see enhanced shopping frequency in the 1st two months of the year – There was a noticeable up tick in store brands, given the 6.4% increase in unit sales across all store brands in the U.S.. This is the highest lift we have seen since August 2008 as the gap between branded items and store brands widened. – Despite the shift to store brands in the US, National Brands in Canada are still holding their share (81.2) as they capitalize on the consumers need for value through increased feature pricing activity. Over the past year unit sales on feature price increased 8% for National Brands to now account for 38.5% of unit sales. PL remained flat reporting a 1% decline in feature price sales.– Canadians are still shying away from multiple store visits. One stop shopping continues to expand – they are making 4% fewer shopping trips but once in store, they are spending 6% more, driven primarily by rising prices.– Expect March sales to be negatively impacted by the seasonal adjustment of Easter, which in 2008 occurred on March 23rd vs April 12 in 2009.
This document provides an overview and summary of a GE Global Innovation Barometer survey conducted in 2013. Some key findings include:
- Innovation remains a strategic priority for most businesses globally and in Sweden.
- Swedish businesses see improving existing products/services and developing new products/services as most contributing to future performance.
- Understanding customers, attracting innovative talent, and developing new technology are seen as most important for innovation success.
- Respondents have mixed views on their country's innovation framework, seeing some areas like university partnerships as strengths but others like funding as weaknesses.
- When asked about policy priorities, Swedish respondents emphasized stronger education-business linkages, reducing bureaucracy, and protecting confidentiality.
Understanding Big Data: Strategies to Re-envision Decision-Making
Amy Mayer, Vice President, Capgemini
Oracle Analytics Leader, North America
Presented at Oracle OpenWorld 2012
Gp Allied Intro Presentation Short (061209)Chris Colson
GPAllied provides operational excellence services including Lean/Six Sigma, predictive maintenance, maintenance training, reliability training, and maintenance and reliability consulting. Their philosophy is that operational excellence occurs through integrating people, processes, and technology. Their core competencies are training, technical services, engineering, and best practices. They have a global reach across the Americas, EMEA, and APAC regions. Implementing a complete reliability initiative can significantly improve business performance and bottom line results by aligning practices and systems through effective business processes. GPAllied offers solutions to meet various operational needs.
Countering corruption from one or two sides? Cooperation between government a...ROBERTO VILLARREAL
This presentation conveys the contents of an analytical paper on the same topic submitted to an international workshop on civil society and anticorruption organized by the University of Surrey. Concrete ways to develop over time an effective participation of society to prevent and counter corruption are identified following the United Nations Convention against Corruption UNCAC.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
How MJ Global Leads the Packaging Industry.pdfMJ Global
MJ Global's success in staying ahead of the curve in the packaging industry is a testament to its dedication to innovation, sustainability, and customer-centricity. By embracing technological advancements, leading in eco-friendly solutions, collaborating with industry leaders, and adapting to evolving consumer preferences, MJ Global continues to set new standards in the packaging sector.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
3 Simple Steps To Buy Verified Payoneer Account In 2024SEOSMMEARTH
Buy Verified Payoneer Account: Quick and Secure Way to Receive Payments
Buy Verified Payoneer Account With 100% secure documents, [ USA, UK, CA ]. Are you looking for a reliable and safe way to receive payments online? Then you need buy verified Payoneer account ! Payoneer is a global payment platform that allows businesses and individuals to send and receive money in over 200 countries.
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Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
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HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf46adnanshahzad
How to Start Up a Company: A Step-by-Step Guide Starting a company is an exciting adventure that combines creativity, strategy, and hard work. It can seem overwhelming at first, but with the right guidance, anyone can transform a great idea into a successful business. Let's dive into how to start up a company, from the initial spark of an idea to securing funding and launching your startup.
Introduction
Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
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1. +
Jerry Hughes,
Managing Partner
The Upside to the
Downturn
Placing Strategic Bets in a Time of
Extreme Uncertainty
2. +
“How I learned to stop worrying and
love the crisis.”
Copyright 2009 Aventine Partners, LLC 1
3. +
Core ideas
Attitude: Optimism!
Tools: Scenarios
Content: Euromerica, Lever Lever
Land, Back to Basics, Do-Over
Copyright 2009 Aventine Partners, LLC 2
4. +
We’ve moved from a period of variability
to extreme uncertainty
Professional Forecaster Forward GDP Growth
Probabilities
2006 2008
50%
40%
Mean Probability
30%
20%
10%
0%
< -2% -2 to -1 to 0 to 1 to 2 to 3 to 4 to 5 to > 6%
-1% 0% 1% 2% 3% 4% 5% 6%
Source: Philadelphia Federal Reserve Bank Forward GDP Growth
Copyright 2009 Aventine Partners, LLC 3
5. +
The bad news: Your traditional markets
will never exist again
Consumer demand patterns are changing, possibly
permanently
The government will be driving more
supply, demand, and regulation than in the past
Many buyers, both business and consumer, are
actively reevaluating their supplier relationships
The fact of the economic crisis will change
priorities and the way decisions are made for the
foreseeable future
Copyright 2009 Aventine Partners, LLC 4
6. +
The good news: Your competitors’
traditional markets will never exist again
Your competitors face the same challenges
The downturn will weed out competition in many
markets
The incumbent’s advantage is greatly diminished
Fiscally conservative companies with tight
operations will survive
The benefits of hunkering down are greatly
diminished
Copyright 2009 Aventine Partners, LLC 5
7. +
The really good news: Brand new
markets with no incumbents will emerge
Public sector investment in certain industries will
outstrip current supply, necessitating the entry of
new competition
The price of entry to new markets will in many
cases be low
Existing businesses that have related assets, know
how, or relationships to leverage will have an
advantage
Copyright 2009 Aventine Partners, LLC 6
8. +
Three pieces to successful transition to
new businesses
Avoid catastrophic losses
Survive to your future
Tightly manage legacy businesses
Fund your future
Gain exposure to high-upside sectors
Be there when the future happens
Copyright 2009 Aventine Partners, LLC 7
9. +
“Ninety percent of life is just showing
up.”
Copyright 2009 Aventine Partners, LLC 8
10. +
Scenario planning is an effective tool for
addressing extreme uncertainty
Popular business tool in 1980s and 1990s, but fell
out of favor
Theillusion of quantifiable risk and Monte Carlo
simulations
Identify
areas of greatest potential change and
uncertainty
Think
of the consequences of a variety of extreme
outcomes
Copyright 2009 Aventine Partners, LLC 9
11. +
Four scenarios driven by levels of
government activity and consumerism
High
Government
Activity High Consumerism Low
Low
Copyright 2009 Aventine Partners, LLC 10
12. +
Examples for some of our scenarios
already exist, but not for others
Sweden
France
Finland
Italy
Netherlands
Brazil
Russia Britain
Spain New Zealand
Germany
Poland
Australia
Romania Japan USA Switzerland
South Africa South Korea
Turkey
Argentina
Mexico
China
India
Malaysia
Taiwan
Copyright 2009 Aventine Partners, LLC 11
13. +
Examples for some of our scenarios
already exist, but not for others
Sweden
France
High Government
Finland
High Government
Italy Involvement
Involvement Netherlands
Moderate
High Consumerism Russia
Brazil
Spain
Consumerism Britain
Germany New Zealand
Poland
Australia
Romania Japan USA Switzerland
South Africa South Korea
Turkey Low Government
Low Government
Argentina
Involvement
Involvement Mexico
Moderate
High Consumerism
China
India
Consumerism
Malaysia
Taiwan
Copyright 2009 Aventine Partners, LLC 12
14. +
The current path seems to be toward a
European model
Key Themes:
• Public trades affluence for EURO-MERICA
security
• Heavy state involvement in High Government Involvement
investment projects, regulation Moderate Consumerism
and social safety net
• Sector-specific support and
protectionism
• Dampened consumer demand
keeps inflation in check
• State capitalism increases
political friction among nations
and blocs
• Protectionism and import
substitution policies reverse 2009 Aventine Partners, LLC
Copyright 13
trade imbalances
15. +
The temptation to simply kick-start the
consumer economy may prove strong
Key Themes:
LEVER LEVER LAND • Government manages financial
sector to resume credit-driven
High Government Involvement growth
High Consumerism • Political pressures lead to
explicit policy of socializing debt
• Rekindled demand sparks
inflation, weakened dollar, and
renewed financial crisis
• Trade collapses due to locking
up of international financial
system
• Second crisis is worse than
2008/2009
Copyright 2009 Aventine Partners, LLC 14
16. +
Society may adjust steadily, giving the
market economy time to right itself
Key Themes:
• Steady rebalancing of consumer
demand enables market
mechanisms to handle
adjustment
• Greater emphasis on work and
leisure balance moderates
workforce shocks and drives
productivity gains BACK TO BASICS
• Government maintains
increased regulatory activity in Low Government Involvement
selective sectors, particularly Moderate Consumerism
health care
• Market- and state-led
developments reduce income2009 Aventine Partners, LLC
Copyright 15
disparities
17. +
Resilient foreign markets may provide
the fuel to re-stoke consumer demand
Key Themes:
• The saving/spending
relationship between East and
West resumes
• Off-shoring trends continue, as
does the increase in foreign
ownership of Western business
• Raw material prices resume
DO-OVER upward trajectory
• Controls on consumer debt
Low Government Involvement levels are maintained, leading to
High Consumerism an inability for many to resume
past consumption levels
• Loss of international prestige
and reduced standard of living
Copyright 2009 Aventine Partners, LLC 16
fuel political and social unrest
18. +
Finding opportunities and areas of
resiliency
LEVER LEVER LAND EURO-MERICA
High Government Involvement High Government Involvement
High Consumerism Moderate Consumerism
DO-OVER BACK TO BASICS
Low Government Involvement Low Government Involvement
High Consumerism Moderate Consumerism
Copyright 2009 Aventine Partners, LLC 17
19. +
Recap
The crisis will produce winners
Incumbents will be de-throned, but
having existing customers, assets, and
knowledge creates advantages
Place strategic bets based on
possibility of high upside
Copyright 2009 Aventine Partners, LLC 18
20. +
Acknowledgements and Further Reading
Shell on scenarios (www.shell.com/scenarios)
Finnish Global Scenarios (www.eva.fi)
Scenarios and Strategy (scenariosandstrategy.wordpress.com)
UmarHaque on Capitalism 2.0
(blogs.harvardbusiness.org/haque/)
Niall Ferguson on The Great Unwinding
(http://thebankwatch.com/2009/02/04/the-great-
unwinding-part-1-2009-2012/)
Spengler’s Critique of “Lever Lever Land”
(http://www.atimes.com/atimes/Global_Economy/JL25Dj02
.html)
Copyright 2009 Aventine Partners, LLC 19
Editor's Notes
The subtitle to this presentation is “How to place strategic bets in a time of extreme uncertainty. If that sounds too consultanty for you, my other working title was, with a nod to Stanley Kubrick and Peter Sellers, “How I learned to stop worrying and love the crisis.” When asked to do this presentation a couple of months ago, things looked pretty dire. My take is not so much to escape from the reality of what we face with humour, or be pollyannaish about the exceptional ability of America to face down whatever problems we confront, but rather to keep perspective and realize that there are always winners and losers in every situation, and when conditions change dramatically, there’s no reason to believe the winners are pre-determined. And for most of us in this room, that is a good thing.
There’s no formula or magic answers to getting through these difficult economic conditions. Rather, I would like to talk about an attitude – reasonable optimism, some tools to use to identify areas to place some bets, i.e. scenario planning, and give you what hopefully will be some thought provoking content, which is to say touch on four specific scenarios for the way economic and social conditions might play out. We’ve titled them “Euromerica, Lever Lever Land, Back to Basics, and Do-Over.” But more on that later.
In a certain sense, strategy is the art of preparing for and confronting uncertainty. In part it is defensive – shoring up weaknesses and anticipating changes in your market or competitive environment. In part it is offensive – being the author of those changes.How you think about strategy depends in large part about the degree of uncertainty you are facing, or think you are facing. The fact is over the past two years we have moved from a period of low perceived uncertainty to extreme uncertainty about the future.Here we see the consensus forecasts for GDP growth in the coming 12 months compiled by the Philadelphia Fed.This chart only partially illustrates the point, but the fact is that we were collectively fairly confident only two years ago that our economy was on a steady growth trajectory and the only real question was how much we would grow. Compare that to today, when we don’t know whether we are going to grow or contract over the next 12 months. And as you all certainly realize, the difference to our economy and society between growing 1% and shrinking 1% is enormous.
One of the things that is clearly different about this recession, downturn, or crisis, is that it’s impact goes well beyond short term economic health. It has already ushered in a dramatic change in political power and assertiveness. It is also changing consumer behavior in ways that may be much more lasting than the temporary retrenchment of spending that we’ve seen in the past. It has fractured long-standing business relationships as customers have changed priorities, cut spending, or reacted in fear for the viability of traditional suppliers. The bottom line is that for most businesses, the markets that you served only two years ago will never exist again.
But this is not so dreary, when you think about the fact that what is true for you is true for your competitors. They will face the same challenges, and many of them are going into this weaker than you. Financial risk. Customer risk. Employee risk. Operational risk. There are a host of threats that are heightened right now, and if you can survive, you’ll find yourself competing for food in a culled herd.The other way to look at this, outside of markets that you may be in right now, is that the incumbent’s advantage is greatly diminished. Buying behavior is changing, people have new needs, customers are switching business relationships. If you’ve been conservative and can withstand the economic pressures, you’ll make it through this tough stretch. But simply hunkering down and trying to protect your little patch of earth won’t help much because too much is changing for a simply defensive posture to work.
So what’s the really good news? New markets are going to emerge more quickly. And there are no incumbents. Public sector spending in some industries will far outstrip current supply. For example . . . . . Some markets are relatively new. The price of entry will be low.
At Midway we do work to help clients resposition their businesses strategically, and right now many are feeling a more urgent need to do that. It’s generally a two-step process. The first is to survive and stay in the game, and tightly manage your existing business to generate the cash to fund your future opportunities. There’s plenty to say about running a tight ship, but I suspect most of you have been giving that plenty of thought over the past year or more. So, I want to talk about those future opportunities. In some cases the new direction may be clear and you’ll want to make a dramatic shift. But given the big uncertainties surrounding us, the better strategy might be to place a number of bets, getting exposure to sectors or new opportunities with high-upside potential.NassimTaleb’s ideas about the Black Swan.
So what do you need to do to transition to promising new businesses? Well, I thought I had a perfect opportunity to fit the baseball theme with the quote, “90% of life is just showing up.” I thought that was Yogi Berra, but it turns out that Woody Allen said that. In either case, there’s a lot of truth to it. You need to get in the vicinity of the opportunities. Many of these are so new that no one has figured them out. But imagine if you were working for an internet company in 1995. Doesn’t matter which one. You were there and you saw enough ahead of everyone else that you found your way to the winners. Those opportunities are out there again. You just need to get near them.
So where do you want to place your bets? That’s what offensive strategy confronting high levels of uncertainty is about.I would like to remind you of a tool that used to be widely used and then fell out of favor: scenario planning. For those who only know scenario planning by reputation, it emerged as a well regarded business tool in the 1970s, especially following the economic shocks triggered by OPEC and the spike in oil prices. Shell Oil had adopted this tool and, having thought through the consequences of the oil shock better than its competitors, thrived in the new environment. But while scenarios became widely used through the 1990s, the tool fell out of favor. Why? Well, my perspective is that the commonly held beliefs about the level of risk we faced and how to manage that risk changed. We increasingly felt that, after the fall of the Soviet Union and the triumph of democratic capitalism, we were in an era of increasing prosperity where we might hit a few bumps in the road, but the direction was clear. The only questions were about the pace of growth and when we would hit the bumps. Sure, there was the uncertainty about technology and social change, and some industries were likely to disappear (think newspapers). But the general direction seemed clear. The only question was really how quickly we would get there.Scenarios didn’t seem to fit this view of the future. They tended to describe a variety of very different, extreme outcomes, and didn’t favor one over the other. In an age when extreme outcomes became increasingly difficult to take seriously, the tool wasn’t relevant.While we thought risk was diminished, we also became enamoured with new tools that seemed to give us a scientific way to measure and manage those risks. Instead of scenarios, people started using things like Monte Carlo simulations and other highly quantitative ways to forecast and manage risk. Well, we’ve seen that those don’t work well because the extreme outcomes are underestimated and they break down. So, now it’s time to start taking the extreme outcomes more seriously again.
The way scenario planning works is to identify the dimensions that are more likely to produce the biggest changes and are most uncertain. Many businesses will look to factors that affect them significantly – companies like Shell are obviously concerned about things that touch on the energy markets and geo-political developments. But we believe right now a couple of dimensions have emerged as dominant for everyone and can be used to generate scenarios that are useful to most businesses.We see the level of government activity in the economy as a big driver of potential change, as well as the level of consumerism in America, and to a lesser degree the rest of Western society.We had been in an era of relatively low government activity in the economy and relatively high level of consumerism – which can be discerned both by the degree to which consumer demand drives the economy and the balance of consumption vs. savings by individuals. We are now moving in the opposite direction on both dimensions – toward more governmental activity and less consumerism. But where will we end up? It is just as easy to foresee falling back to old ways as it is to see our staying in a high governmental actvity, low consumerism world for the intermediate term. Or we could revert on one but not the other. So what would these worlds look like, and what might those scenarios tell you about ideas for new businesses, where you want to place strategic bets, and where you might need to take defensive action?
One of the interesting things about scenarios along these dimensions is that a couple of these worlds are reasonably well known to us. We can look at our economy and society today and others using data about the degree of governmental involvement and the level of consumerism. Here I’ve plotted some data from 2006. Along the Y axis we use Taxes (at all levels) as a percentage of GDP as a reasonable proxy for the level of governmental involvement in the economy. It doesn’t hold in all cases (see China), but among most of the Western countries it lines up reasonably well with what we understand to be true. See France and Sweden.While we could look at things like the level of consumer consumption or savings rates to understand consumerism, the scenarios we have in mind tap into something more fundamental, which is the attitudes toward material consumption as important and, on the flip side, the level of anxiety around not having stuff to survive. It turns out there is a 20+ year series of global surveys called the World Values Surveys that gets at this stuff. A byproduct of that survey is something called the Post-Materialist Index, which attempts to measure the degree to which a society cares less about having things for survival and prestige and starts valuing more things like the environment or leisure. This is a bit simplistic, and without getting into the nuances of this you can see that along these dimensions the US is a bit toward the lower left, while most of Europe is toward the upper right. Some countries remarkably so. So, one of the things we can look to is the European model for hints as to where we might be going. This isn’t remarkable in itself, but it gets interesting when you start to think about whether there might be room for two Europes in the world.The other interesting thing is to consider that two of these quadrants really haven’t been tried yet. We have a few countries camped out here in the upper left, but they aren’t extreme and there probably isn’t much example Poland or Brazil can set for where America might go. The lower right is even more interesting. There are no counties that seem to be characterized by low governmental involvement and relatively low levels of consumerism. There is plenty of reason to believe in American Exceptionalism, and it can be plausible, and very interesting, to think about America ending up in one of these worlds and doing new things.Now, let’s get into, at the very highest level, some scenarios based on these dimensions. Now remember, the idea is to describe plausible worlds that could emerge at extreme ends of the dimensions that we think will be important. These aren’t predictions, and it’s not about foreseeing specific events or trends. But, getting back to the core idea of finding opportunities in this downturn, the challenge is to think about the opportunities that haven’t yet emerged. So these scenarios are meant to get you thinking and hopefully spark some new ideas. A business that has placed some bets that might work out in any of these worlds has a nice portfolio of opportunities. A business that will be clobbered if one or more of these comes to pass should probably start making some adjustments.Also as a preface, we created these by reviewing and collecting ideas from dozens of reports, forecasts, and scenarios out in the public domain and trying to deal with the current environment. I would be happy to help anyone tap into these sources if you’re interested.
One of the interesting things about scenarios along these dimensions is that a couple of these worlds are reasonably well known to us. We can look at our economy and society today and others using data about the degree of governmental involvement and the level of consumerism. Here I’ve plotted some data from 2006. Along the Y axis we use Taxes (at all levels) as a percentage of GDP as a reasonable proxy for the level of governmental involvement in the economy. It doesn’t hold in all cases (see China), but among most of the Western countries it lines up reasonably well with what we understand to be true. See France and Sweden.While we could look at things like the level of consumer consumption or savings rates to understand consumerism, the scenarios we have in mind tap into something more fundamental, which is the attitudes toward material consumption as important and, on the flip side, the level of anxiety around not having stuff to survive. It turns out there is a 20+ year series of global surveys called the World Values Surveys that gets at this stuff. A byproduct of that survey is something called the Post-Materialist Index, which attempts to measure the degree to which a society cares less about having things for survival and prestige and starts valuing more things like the environment or leisure. This is a bit simplistic, and without getting into the nuances of this you can see that along these dimensions the US is a bit toward the lower left, while most of Europe is toward the upper right. Some countries remarkably so. So, one of the things we can look to is the European model for hints as to where we might be going. This isn’t remarkable in itself, but it gets interesting when you start to think about whether there might be room for two Europes in the world.The other interesting thing is to consider that two of these quadrants really haven’t been tried yet. We have a few countries camped out here in the upper left, but they aren’t extreme and there probably isn’t much example Poland or Brazil can set for where America might go. The lower right is even more interesting. There are no counties that seem to be characterized by low governmental involvement and relatively low levels of consumerism. There is plenty of reason to believe in American Exceptionalism, and it can be plausible, and very interesting, to think about America ending up in one of these worlds and doing new things.Now, let’s get into, at the very highest level, some scenarios based on these dimensions. Now remember, the idea is to describe plausible worlds that could emerge at extreme ends of the dimensions that we think will be important. These aren’t predictions, and it’s not about foreseeing specific events or trends. But, getting back to the core idea of finding opportunities in this downturn, the challenge is to think about the opportunities that haven’t yet emerged. So these scenarios are meant to get you thinking and hopefully spark some new ideas. A business that has placed some bets that might work out in any of these worlds has a nice portfolio of opportunities. A business that will be clobbered if one or more of these comes to pass should probably start making some adjustments.Also as a preface, we created these by reviewing and collecting ideas from dozens of reports, forecasts, and scenarios out in the public domain and trying to deal with the current environment. I would be happy to help anyone tap into these sources if you’re interested.
Let’s talk first about what might be the most obvious future given the direction we’re currently on with Washington embarking on a littany of unprecedented things to take charge of the economy. Not trying to, don’t need to, debate good or bad. The point is, there is a very plausible future that might pan out that takes us in the direction of Europe. Some not so startling ideas. Trading affluence for security. We’ve seen this in Europe for years, and generally derided them for it. But from Detroit executives looking for governmental intervention in their failings to the millions of out of work who might be very attracted by the idea of unlimited unemployment insurance right now, our priorities as a nation are changing. The change may or may not be temporary.We see the state getting involved in the economy is a big way not seen since the 30s and 40s – mapping out areas for strategic investment, supporting “promising” sectors of the economy, and regulating the more dangerous ones. While many have been worried about the inflationary potential of this administration’s fiscal policies, there are plenty of reasons to believe we might be in for deflation instead – driven not just by low consumer demand but demographic changes as the baby boomers are moving into a low-consumption phase of their lifecycle. Think Japan in the 90s.But the really interesting thing is to think about what happens globally when America the open-markets capitalist top dog goes away, growth isn’t lifting all boats, and large state controlled businesses start competing against each other in a very much home field, visitor field environment. That could lead to a reemergence of protectionist policies a la the 1930s. Countries, already in the business of favoring certain sectors of the economy, could pursue import substitution policies. Global trade would decline, and with it immigrant labor.So, as a business, what are the opportunities? At the macro level, first, some obvious ones like energy or health care. And you should figure out how to sell to governments and get into the government procurement game. But what about industries that have seen production and service delivery move offshore? This could reverse itself, and businesses that have either survived the foreign competition over the past decade or those who can position themselves with domestic production now, likely on the cheap, stand to benefit. Conversely, if you currently benefit from, or rely on, cheap inputs from abroad, think through how to protect yourself if that cost advantage disappears due to tarrifs or other protectionist policies.At the micro level, and much harder to describe in detail, will be opportunities to meet consumer needs that look more European. Buy less. Be good to the environment. Consume more leisure. But again, we already have some pretty clear models for what that looks like.
How about one of the unchartered quadrants – heavy government and unabated consumerism? By the way, the label Lever Lever Land is not our creation, but was coined by David Goldman in a column for the Asian Times Online.This doesn’t seem so far fetched to me. We haven’t exactly heard president Obama plead for people to help out by “Going Shopping”, but the fact is that we don’t have a model or track record of growing the U.S. economy that isn’t consumer led. When eventually we have politicians seeing GDP growth rates and unemployment numbers being the only thing standing between them and a new life in the private sector – an even scarier fate than it used to be – stoking the fires of consumption will seem pretty attractive. Pushing lending up and socializing debt will create capacity for consumer spending, but against a backdrop of a weakened international financial sector and lower confidence in the dollar, this could produce the mother of all crashes. This decisively leads to the end of U.S. political and economic leadership of the world.Frankly, it’s hard as an American to even imagine the upside or opportunities in this scenario. There probably aren’t many. We would probably see a very similar trend of protectionism and import substitution as in the Euromerica scenario, but more extreme. There will also likely be a boom in private security, public safety, and military expenditures – but with a focus on basic, not advanced technologies. Labor will be plentiful, especially as the retirement savings of millions will now really be gone and these people will stay in the workforce. And energy prices will be low, not only due to lower overall demand, but any OPEC discipline will likely crumble and the political will to tax carbon emissions in any form will disappear. Production methods and assets that are uneconomical with oil > $30 may become productive and valuable again.
The more promising of the uncharted quadrants has the U.S. navigating through the crisis sticking with a cultural change away from high levels of consumerism and reverting to a smaller, but vigilant, government. This is a pretty positive and hopeful scenario, and perhaps it’s attractiveness might lead one to overstate its plausibility relative to some of the less attractive outcomes we’ve imagined. But in this world consumer demand adjusts, and the market adjusts with it. We get a culturally lead reduction in work and increase in productivity. Many of the economic sectors that meet widely desired social goods, such as related to the environment and health care, see growth and innovation. But this is not dominated by the government but rather responds to the market and shifting consumer demands and priorities.Where are the opportunities here? There will likely be an increased demand for goods and services that reduce social costs and create ways to benefit from being socially responsible businesses. Again, Europe may not necessarily lead the way, but give us a window to the consumer attitudes that will drive this. There may be some shift to domestic production similar to what we considered in the first two scenarios, but driven by the higher cost of energy, and therefore transportation, rather than protectionism. However, the trend toward globalization and offshoring of service delivery will continue. We’ve seen this in customer service and IT. Some other areas to look for are other professional services (accounting, legal) and education. I also see the emergence generally of an environment that is more favorable to the businesses represented in this room, largely medium sized businesses, often family owned. The idea of businesses with closer ties to their communities will be attractive to consumers and employees, and it may produce favorable government policies as well.
The last scenario to consider is that we manage through the crisis and find our way back to the familiar environment of a consumer-driven, low government involvement world. For this to happen we would likely need to see a resumption of the saving/spending relationship between the U.S. and Asia societies, particularly China. The impetus would be greater economic resilience in Asian and those countries emerging from this downturn before the West. The difference, if this should happen again, would be that the U.S. is unlikely to be in the driver’s seat this time. We would continue transferring future wealth to our creditors, and Asian/Chinese control of domestic businesses would increase. Eventually we would likely see social and political unrest arising from the loss in American prestige and power on the international stage.Opportunities here? Many of the same opportunities businesses were pursuing two years ago related to being in and serving Asian markets. But while much attention has been paid to providing western goods to the emerging affluent and middle classes – think WalMart, KFC, and Rolls Royce, there will be new opportunities to meet the unique demands of a more powerful and prosperous Asia, and China. Urban crowding and environmental concerns are rising to the fore and will become big priorities if this economic crisis gives China the chance to accelerate its rise on the global stage. The same opportunities will exist to a lesser degree with resource driven economies of the Middle East and Russia.
So, again, the idea here is not to forecast the future but rather to suggest a structured way to generate and evaluate ideas for placing strategic bets on new businesses. If this works for you, there are other scenarios you might find or develop that better address the factors driving your business or adjacent business opportunities. But the key point is that when you think about extremes and big changes you see that small investments and moves that get you in the game in new areas might yield big payoffs down the road.
So, that’s a quick review of some possibilities meant to spark thinking and ideas about where you can find opportunities. To recap, our view is that this crisis brings as much good news as bad to those that can survive. It will produce winners, and most advantages of incumbents are going to disappear. But the opportunities aren’t just going to guys tinkering in garages. Your existing customers, assets, and know how can be repurposed to go after many of the new opportunities. The idea is to recognize that when the world goes through big changes, the payoff to being in the right place can be huge. So where you can, consider placing strategic bets by getting involved in new businesses with high upside potential.
So, that’s a quick review of some possibilities meant to spark thinking and ideas about where you can find opportunities. To recap, our view is that this crisis brings as much good news as bad to those that can survive. It will produce winners, and most advantages of incumbents are going to disappear. But the opportunities aren’t just going to guys tinkering in garages. Your existing customers, assets, and know how can be repurposed to go after many of the new opportunities. The idea is to recognize that when the world goes through big changes, the payoff to being in the right place can be huge. So where you can, consider placing strategic bets by getting involved in new businesses with high upside potential.