Since the recession hit, many of us have spent a lot of time trying to figure out what the future holds. Attempting to predict when (or if) things will improve.
This is a very tough issue to discuss due to the wide variety of opinions out there. Some experts claim we're due for tremendous growth. Some say we're due for an even more dramatic crash. I've just started to tune all that out.
At this point, I have given up trying to play fortune teller.
My approach has been to not assume to worst. After all, the worst possible scenario is that some natural disaster wipes out most (or all) of human society. Yet, I wouldn't say that I'd classify myself as "cautiously optimistic."
So I have been planning on the assumption that things will largely say the same, not getting much better, but not getting much worse. I feel that a safe, low-risk approach is appropriate at this time. I'm not looking to gamble on the potential of a large swing.
Also, I think once consumer confidence increases, corporations cannot benefit. Once we start to believe that our situations are not as grave (reltively speaking), then we will believe in our spending power and actually... spend. This will help to get the big boys feeling good about their market prospects. It's like a cycle that all starts with the 'you and me's of the world'.
This seems to be the million dollar question..How do you plan for the future among all the uncertaintly? The unemployment numbers and the lack of payroll increases is a sign that corporations themselves are not certain of the market data and are hedging their bets. One can't blame them really after the downturn in the market over the past couple of years.
For the ecnomy to recover on a longterm basis, corporations have to stop hoarding cash and start investing again. Once they invest, either in their current employees or by adding more employees (or hopefully both), their confidence will reflect in the market and eventually in consumer spending.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.