I guess it is obvious turnaround for the rapacious financial institutions, which have created the artificial veneer of business operation based on derivatives, paper instruments, bloated remunerations for unreal world of financial juggleries. The ripple effect now threatens to be the worst situation to be in for years known in the past. How far would this boil down to a jobless market across all segments, all industries is going to be visible in 3-6 months. Global impact would be equally severe for those who have seen massive growth in the last 3-5 yrs in any part of the world..
Old world order of low risk, safe bets may seem to be paying off for many in the world. For a connected flat global world, the effect is sure to be immediate and deeper than ever before. There is lot more to speculate on how many more companies will go under, how many jobs will be taken off… the pessimists and the optimists can vary largely on it only on the volume but agree on its going deep south.. well and sure. “Bears” in the corporate world that can see benefit in this new world order would have a new drum to beat and work with..
Go back to the basics, less jargon, keep it simple ( a la google.. or apple), work through to service/offer what is essential to the target consumer/client. Being agile and be able to move and twist to the turns that are going to be the need to move ahead of the crowd in the next 3 yrs. Or stay put in an inertial mode.
IT world too has basked for too long on gains from personnel replacements with automation to reach a point of no signficant gains to offer than the “instantaneous” internet is already reaching for. It will have to work towards the manufacturing industry like longer cycles of investment, products offering something more than just workflow optimization. Whither to for IT services industry beyond 2010-2013 at best, till when the current contracts should expire.. Deep Think.. to survive beyond 2011.. Lots that can be done and still a long way to go before it can be really called a crisis in a real sense. Despite optimized efforts and least cost, the industry struggles to survive. Right now it has been an easy a travel to make its 30%+ growth and profits even till this year past.. down from highs of the past. How many of the unrealistic brainstorming, conferences, jargons, useless sales cycles can be dumped, is to be seen through the year and three ahead. Leave the assumptions of the past, and see the future as it is; significantly different than the past.