Archive for Tips for Tough Times
by Celine Roque
June 30, 2009 at 7:30 am · Filed under
Tips for Tough Times
Appraising Employee Performance in a Downsized Organization
Tom Krattenmaker of the Harvard Business Blog shares management strategies to keep employees motivated. “Make the bottom line clear. Furtwengler stresses the need for managers to set expectations about raises and bonuses long before appraisal time. If a company’s financial picture has darkened, he suggests senior management get a notification out as quickly as possible, describing the potential lost raises and bonuses. Establishing this context can make all the difference in how a high-performing employee interprets a below-average raise.”
Team-Building Exercises for Tough Times
Pat Olsen details how you can conduct meaningful and productive team-building activities. “When companies are monitoring expenses so carefully and jobs are being cut faster than you can say ‘rising unemployment figures,’ can managers really justify team-building exercises? According to some experts, it’s in times like these that team-building activities are most needed. It is important, they say, to recognize what the changed economic climate means to workers who are called on to do more with fewer resources. Teams often become too internally focused even when the economy is good, suggests organizational development consultant Gayle Lantz, president of WorkMatters in Birmingham, Alabama. In turbulent periods, employees may be fearful about the future of the company and may worry that they may be the next to be laid off. Managers need to be honest, acknowledge the stress employees are feeling and validate their concerns. For many companies, team building becomes a means of regrouping staff after layoffs. When a team is learning to operate in a new, no-frills environment, group activities designed to foster collaborative problem solving can be especially productive.”
Job hunting? Use social networks to make crucial connections
Computer World’s David Ramel illustrates the power of networks by telling stories of people who went to extremes to get the job they wanted. “Carlson’s initial action consisted of sending out about 60 to 70 resume/cover letter blasts to job sites, companies, etc., around the holiday season after the Yahoo Video layoff. When nothing came out of that, he took a more organized and targeted approach and sent out 103 blasts — but this time he used LinkedIn and other tools to research target companies, trying to find people who worked at the company who had a role in the product area he was interested in, or who worked as company recruiters. Three days after the blast, he sent out follow-up messages. ‘And the response rate from those follow-ups was much higher than the original sendouts,’ he said, at 40% compared to the first response rate of only 5%. During this time he was maintaining his online profile, doing status updates on sites such as Facebook and Twitter ‘that were relevant and germane to my job search.’ The result: he started working at one of his targeted companies, Lyris Inc., on March 23, four weeks and one day after the targeted resume/cover letter blast.”
Job Seekers: How to Negotiate a Higher Offer
Demanding higher pay in these times can be tricky, but not impossible, according to AnnaMaria Andriotis of Smart Money. “With an average of five unemployed people now vying for each job opening, according to the nonprofit Economic Policy Institute, employers who are hiring can afford to be picky — and tight-fisted. Many companies are reducing compensation for their existing employees, which means they’re more likely to offer lower salaries to new hires, says Fred Crandall, a senior consultant at human resources consulting firm Watson Wyatt. In April, 21% of employers had reduced employee compensation, according to a Watson Wyatt survey, up from 7% in February. And while you may feel compelled to accept any job offer, failing to negotiate a compensation package can cost you. These days, employers who engage in such ‘lowballing’ are offering an average 10% to 15% less than what they would have offered before the recession began, says Ford Myers, president of Career Potential, a Haverford, Pa.-based career coaching and consulting firm.”
5 Tips to Strengthen Corporate Relocation Programs in a Down Economy
Pressure to keep costs down can severely affect special programs like relocation, but RIS Media has some recommendations to cope with them. “According to a 2009 survey on domestic relocation policies by Cartus, a leading provider of relocation and global workforce management services, over 75% of respondents cited an increase in employee resistance to relocate because of the economy, and 50% expect talent management challenges to increase over the next year. ‘Even though we are in a recession, specific cost-control strategies can help corporate relocation managers successfully place employees to accomplish company needs,’ said Renee Carnes-Rook, Cartus vice president of real estate services. ‘Now is a good time for relocation managers to re-examine workforce policies and strategies to increase cost savings.’
Why Corporate Images Are on Fire
Naseem Javed of Ecommerce Times puts the spotlight on negative corporate images and suggests a few ways for companies to strengthen their credibility. “Most corporate boards are extremely scared to open a debate on the name-image issue, but the global economic meltdown is pushing the name-identity crisis to the very top of the priority list. A survey of major corporations around the world revealed that 87 percent of corporate names were nearly identical to other business names, causing confusion and the loss of name-equity in the marketplace. The sooner corporate leaders address this, the better.”
How to manage staff positively in an economic downturn
Ivan Robertson lists the things troubling people at work like relationships, work overload and unfair pay, giving his insights on how to mitigate them. “A quick look at some of the more recent results (from a sample of more than 20,000 people) produces some interesting insights in the current economic context. The results show that most people view their relationships with others at work quite positively. Only 9 per cent of people report being troubled by poor relationships with colleagues at work. One possible area of concern for managers, which may be related to the economic climate, is how people feel about others pulling their weight. In fact, our results show that more than 50 per cent of people report being concerned, to some degree, that they do not receive the support from others (boss/colleagues) that they would like. As the impact of the credit crunch increases and workforces become leaner, people in many workplaces may be expected to do more – perhaps making it harder to be supportive and helpful to colleagues. Nearly 60 per cent of our most recent sample reported some concern that others are not pulling their weight, compared with closer to 50 per cent in the preceding eight months.”
by Celine Roque
June 23, 2009 at 9:30 am · Filed under
Tips for Tough Times
How to Use Market Research in a Recession
John Quelch suggests that market research is as important now as ever: “Recession-challenged consumers are buying less, looking for deals, or switching to different brands, product categories, or stores. Some are even changing long-held attitudes toward consumption. To many folks, filling the home with more stuff or keeping up with the Joneses is no longer appealing. As a result, the degree of uncertainty in business and consumer markets has soared. Yet, to conserve cash, most firms are reducing spending on the market research that would help manage that uncertainty. In the U.S., spending on market research has dipped for four consecutive quarters, and chief marketing officers don’t expect the situation to turn around soon. Most big consumer marketers are seeking to shave 10 to 20% off of research budgets.”
Is Your Company Brave Enough to Survive?
On Strategy Freek, tough questions were asked by Freek Vermeulen regarding businesses’ readiness to stay afloat. “First, we see quite a lot of firms display what we in management academia call ‘threat-rigidity effects.’ When under threat, facing a shortfall in performance, firms are inclined to more narrowly and firmly focus on the one thing they do well (e.g. their core product or service), stop doing other things, and become more hierarchical and top-down in terms of management control. Unfortunately, this often makes things worse, or at least prevents you from coming up with any solutions. What firms are better off doing, is opening up; exploring new sources of potential revenue and experimenting with bottom-up processes to generate such ideas and innovations.”
Think and Act Like a Nonprofit to Deepen Connections and Build Relationships
Roger Sametz of Marketing Profs notes how the tables have turned as corporations look to non-profit techniques for guidance. “A nonprofit’s mission and vision give people a reason to participate—and to believe—that’s deeper and longer lasting than any specific offering. The value proposition goes beyond fulfilling a tangible or tactical need (“I need A to do B”) to fulfill an emotional need. And that connection, when nurtured and sustained, engenders loyalty, creates advocates and ambassadors, and builds relationships that transcend transactions. Customers, participants, board members, and donors feel they are part of a shared enterprise. For a business, forging this sort of deeper connection can provide market differentiation, create a corps of enthusiastic advocates, and help distance offerings from (dreaded) commodities. (Price is less of an issue if you really believe in a company and what it’s selling.)”
5 Steps to Repurposing Your Career
My Global Career’s Amy Dorn Kopelan enumerates the things you should do if you’re planning to switch careers, like knowing your value and cultivating your network. “Despite the numbing loss of over 2.5-million jobs in 2008 – and the worst job market since WWII— young professionals, job-seekers and career changers can and do get jobs today. They are accomplishing this by adapting to a morphing workplace, determining how they can add value to the industries and jobs that matter now, and swiftly repurposing their skills.”
Just-in-Time Budgeting for a Volatile Economy
Mahmut Akten and others at the McKinsey Quarterly suggest new approaches to budgeting in an unstable environment. “Most companies find budgeting a formidable challenge even under stable conditions. Managers often spend significant amounts of time on it, only to be dismayed by how little value comes from four to six months’ effort. Under volatile conditions, when economic forecasts change from week to week, developing one reliable budget to coordinate business units and track performance for an entire fiscal year is very difficult. Following the traditional budget process may even be unproductive. There’s no easy fix, particularly for very large corporations, and companies that have tried to solve the problem don’t have much of a track record. Executives can, however, take several measures to make the process more effective: for instance, scenario planning, zero-based budgeting, rolling forecasts, and quarterly budgeting. Central to all of them is a substantial increase in the CFO’s role and a radical speeding up of the budgeting process.”
Has the recession improved your job in some way?
Nine to Thrive’s Michelle Goodman looks at the good underneath all the bad in an era of pervasive job cuts. “File this under bittersweet silver linings: The recession has had at least one positive effect on the jobs of 77 percent of workers who are still employed, according to a survey announced this month by staffing firm Accountemps. In a national poll of U.S. adults working full time or part time, Accountemps found that 53 percent had been able to take on new projects, 52 percent had gained more responsibility at work, and 52 percent had received more challenging assignments from their superiors.”
IT Modernization in an Economic Downturn!
In his blog, Oracle VP Barry Perkins talks about heightened corporate introspection and its impact on decision-making. “IT organizations are under tremendous pressure to do more with less. While the focus of doing more with less isn’t a new topic, the intensity and detail of scrutiny is. In my 23 years at Oracle, I’ve experienced many downturns. This one is different, at least for the Oracle Modernization business that I lead. How? This time there are many options for solving the challenges presented by legacy software and infrastructure. Reducing cost is an imperative, an important tactical discussion focused on keeping a company alive and operational today. However, what about tomorrow? Considering the future expands the focus from tactical survival to include strategic direction and drive – introducing the concept ’spend wisely.’ Combining the tactical and strategic discussions, results in a focus on economic efficiency – getting the most business value from the investment while also reducing costs.”
How to Find a Job in Any Economy
Andy Klee of Career Rocketeet shares his personal tips in job hunting. “Did you know that small companies—those with less than 10 employees—create a lot of unadvertised jobs? According to the New York Times, in 2008, 3.8 million companies had fewer than 10 workers, and they employed 12.4 million people, or roughly 11 percent of the private sector work force. Regardless of company size, many jobs are not advertised. Someone knows someone else and they get hired—friends of employees, for example. Think about the hundreds (if not thousands) of applicants responding to advertised jobs. Your chances of standing out from the crowd with a resume and getting the job are quite low.”
by Celine Roque
June 16, 2009 at 5:05 pm · Filed under
Tips for Tough Times
How to Head Off Small Business Fear in This Economy
Lifehack’s Susan Baroncini-Moe gives some suggestions on how you can avoid mistakes and cut the right costs, emphasizing that the current economic conditions are temporary. “This is a scary time. Everyone you know knows at least one person who has gotten downsized and new jobs are scarce. People are scared to start businesses and they’re scared to invest in their existing businesses right now. Part of it is that in an economy like this, mistakes are even more costly than before. And part of it is that people are just plain scared to lose anything right now. What you need to know is that the surest way to lose and make mistakes now is to NOT invest in your business. The only way to win right now is to face your fear and keep moving forward in the right way.”
The Internet economy: How it will drive recovery
In his blog, futurist Jim Carroll talks about key trends in various sectors that will aid in recovery. “The ramp-up in healthcare spending that will occur as boomers age will be staggering, and this will perversely drive job growth at the same time it strains the budget. In the US, healthcare spending could equal 60% of gross domestic product in some states within 10 years. Such stark realities are driving furious rates of business model, technological, structural and other innovations in healthcare, much of which will involve sophisticated Internet technologies. For years, I’ve been talking about the potential for bio-connectivity devices: smart home-based medical monitoring technologies doctors can use, via the Internet, to monitor noncritical-care patients. Such innovations will drive a variety of growth-oriented markets.”
Innovation Is Quickly Replacing Manufacturing As The Engine Of Our Economy
Idris Mootee discusses the virtues of innovation and its importance in getting through these tough times. “Executives understand that innovation is necessary in order to stay ahead or just to survive, yet only a handful have the conviction, discipline and energy to act on that understanding. Very few have the will to change and even fewer led their organizations through disruptive change and discontinuities. Over decades, business schools have developed a language for talking about business, from marketing to finance. We hear this corporate jargon all the time in the boardroom and see it in annual reports and press releases. It helps us to understand and communicate. But because we don’t have a language or framework for innovation, the word was used loosely and even improperly, confusing many people. Innovation needs processes, languages and visual metaphor.”
Study: Online Retailers Plan to Focus on Search, Email Marketing & Social Media During Recession
On ReadWriteWeb, Frederic Lardinois features a survey on how businesses are maneuvering to stay afloat. “While the U.S. economy is still puttering through a recession, a new marketing study from the National Retail Federation’s Shop.org and Forrester Research found that at least some online retailers have been able to take greater marketshare in the last few months. About 46% of the 117 retailers polled in this study also said that they had no plans to scale back their original budgets for 2009, though 54% of all respondents expect their overall growth to slow during the next 12 months. Over the last few months, shoppers have become increasingly price-sensitive, and this has clearly helped some online retailers to outperform their brick-and-mortar competitors.”
Do You Really Know Where You Make Your Money?
In his column Upstarts and Titans, Anthony Tjan shares a conversation with former Thomson Corporation CEO Dick Harrington where they talk about the need for small businesses to understand their product line profitability. “TT: But isn’t that because product line profitability is hellish to measure? Do you really need to measure every SKU’s revenue and profit and work through allocating fixed costs? DH: Not quite; you can categorize products. And if you’re small, you can estimate and be approximately correct. For example, if one product is consuming all your customer support resources, you want to account for it. But for small changes in floor space usage, for example, you probably don’t need to factor that in. Being approximately correct is good enough; you don’t need to have perfect information to make the right decision.”
How to Talk to Your Employees about the Recession
In Leadership at Work, John Baldoni looks at ways to approach the topic of hard times in your office environment. “There have been long-running public service campaigns discussing ways to talk to your children about drugs, sex or even money. I suggest a new public service campaign to find ways to speak to your employees about the recession. Whether we have hit bottom now, or will not do so till next year, it is clear that the recession is provoking new thinking about how organizations function and so it falls to managers to talk to their employees candidly and honestly about what to expect now and in the short term.”
How Customers Can Lead Us Out of the Crisis
Conversation Starter’s Steven Spear notes that people’s behavior today is far different from what it was during the good times, hence the impetus to understand them anew and adapt to their needs. “In a world turned economically upside down, there is a hitch. Deciding something implies having effective understanding (mental model) of how the world works and having enough data to get the right answer. But how things work is not understood today. How actions lead to outcomes is now unclear. New models have to be discovered to understand what to do.”
Ballmer Talks at Stanford, Says Now is the Time for Entrepreneurs
Lidija Davis of ReadWriteWeb features the fiery Microsoft CEO and his tips for entrepreneurs, including a video of his lecture. “Now is the time for people who care, who want to invent, who have skills in specific scientific and information technology areas, to get out there and add to the productivity of the economy,” Steve Ballmer, CEO of Microsoft said during the Entrepreneurial Thought Leaders lecture at Stanford University last week. “The question is,” he continued, “will you have the passion and the tenacity and the interest to really start something that’s important?”
by Jim Ware
June 16, 2009 at 10:45 am · Filed under
Communities, Culture, Distributed Work, Management, Tips for Tough Times, Webinar, Work Design, social networks
Please join me and my partner in crime Charlie Grantham, along with Eric Bensley of Citrix Online, and James Hilliard of BNet next Wednesday, June 24, for a free one-hour webinar called “Keeping Your Team Connected in a Distributed Workplace.”
The webinar is sponsored by Citrix Online We’re very grateful for their continuing support of our research and ideas.
Again, the webinar will be on June 24, at 11 AM Pacific/2 PM Eastern. Register here.
We hope you’ll join us. We’re going to be talking mostly about the leadership and interpersonal principles for keeping members of a distributed team connected with each other, their tasks, and the company.
by Celine Roque
May 28, 2009 at 6:55 am · Filed under
Tips for Tough Times
Avoiding the Common Mistakes of a Downturn
Stock markets may be crashing and a few massive corporations crumbling, but Tim Searcy of CRM Daily says the worst thing you can do is panic and make knee-jerk reactions. “Cut investment — This strategy works if you had an ineffective investment plan to begin with. However, if the reason for increasing technology, securing more bandwidth or creating new training was sound before things got tough, it should be sound now. Now is the time to invest. At no other time will you find partners as willing to negotiate price and terms as during this downturn.”
It Takes More Than a Resume to Get a Great Job
College Recruiter’s Liz Handlin gives some advice to job-hunters who cling to the old notions of what it takes to get hired. “A resume isn’t the only tool you need in your arsenal to get a job. In fact, I have known some uber-talented folks who have crummy resumes and who keep landing great jobs because of the strength of their networks, educations, accomplishments, interpersonal skills, and ability to market themselves. Each of these elements is important to job seekers – some more than others depending on the relative strength of some areas of your background. A great resume will help you to get noticed but it is by no means the only thing you need to prepare for a successful job search in an economic downturn.”
The Best Insurance Policy You Could Ever Have … Especially In A Recession
Scott Bradley talks about the importance of having a well-built personal network during tough times on Brazen Careerist. “The individuals who have nothing to fear are those who are highly connected in their niche. Each of these very individuals who are highly connected, and who understand that “Connectivity is the New Currency In This Day And Age,” as my friend Michelle Price says, are those that thrive in their life no matter what the economy is doing.”
Working Smarter Can Help Turn the Economy Around
Bob Picciano, General Manager of IBM Lotus Software, lists nine key factors contributing to a smart transformation in businesses this year on CIO.com. “Universal access to collaboration technology on any device will redefine what it means to be “at work” in an increasingly mobile and globally distributed workforce. Improved applications for mobile devices will offer enterprise office levels of security, flexibility and ease-of-use.”
New business guide has advice for tough economy
Jan Norman of the OC Register highlights the need for managers to examine how they’re running their operations and plan to take advantage of the eventual rebound. “Define your unique value and explore additional revenue streams. Take the time to revisit your position in the marketplace. Be certain that folks understand your unique offering and how to get it. Also, don’t be afraid to diversify into a complimentary business. Don’t retreat into your core business and overlook a chance to leverage your existing infrastructure.”
Overreacting to economic downturn?
Tech Forecasters’ Kathleen Geraghty is calling for restraint and reflection in making important business decisions. “A common overreaction, which can have negative long-term effects on companies, is making across-the-board decisions to reduce investments, compensation, and head count by the same percentage—in all divisions and functions. Our interviews last quarter revealed a number of corporate-wide directives to reduce expenses or headcount without consideration for the performance of a business unit. There is no denying that cost reductions are necessary and this broad-brush tactic may be an expedient way to achieve a corporate target, but they can be damaging to technology roadmaps and employee commitment–both critical to innovation.”
Five Ways to Lead More Effectively in Tough Times
On his blog, Kevin Eikenberry shares his insights on corporate leadership. “Communicate goals and vision. When things seem uncertain or challenging it’s especially important to focus people on the big picture. Does your team see the vision for the future? Do your people know the most important and meaningful organizational goals? As a leader it’s your responsibility to make sure the answer to those questions is YES. Spend more time communicating, sharing and engaging people in your picture of the future and their place in it. Not only will it help people see past today, but it will focus them on something positive and helpful.”
by Celine Roque
May 11, 2009 at 8:13 am · Filed under
Tips for Tough Times
The Right Way to Compete Now
Ignorance may be bliss, but the problem usually catches up with you in the long run. On How We Work, Peter Bregman shows how transparency trumps secrecy in business. “Here’s the thing about human nature: we tend not to learn much from other people’s experience. We wait until we experience it ourselves before we change our ways. That’s why your grandmother probably saved more money than you did. Because she experienced the depression while you just heard about it. We just might learn this time because this downturn has hit hard, wide, and globally. It’s hit across industries and classes. From the lowest paid workers to the highest, everyone is learning the hard way. And what we’re learning is that it’s better to know than not to know.”
Recession Sharpens Skills
In his blog, Jeff Cornwall cites several studies on how small businesses are positioning themselves to weather the storm, and how the economy has helped create better managers. “Small business owners are not taking this recession lying down. Many are finding new resources to tap and new ways to manage costs beyond the traditional steps of laying off staff or cutting back on staff hours. Nearly half of business owners (45%) are open to bartering for new products or services with customers or suppliers and nearly one-quarter (23%) report their barter activities have increased due to the economic environment.”
It’s Not the Recession, You Just Suck
Writing in the aptly named Outspoken Media, Lisa Barone tells those having a hard time to stop pointing at economy and take a more proactive stance on life. “Good people who have lost their jobs because the economy is in the tank. However, I think A LOT of people are beside themselves to finally have an excuse for why the world is out to get them. The world is not out to get you. There are rainbows and butterflies and bunnies all around you. You can either keep complaining how about The Recession is some Blob-like creature taking away your clients or you can break open the box, see it as an opportunity and create your own success. The choice is yours.”
Seven Tips Millennial Job Seekers Will Benefit From in This Tough Economy
A lot of young people are finding it difficult to land a job today, but Lisa Orrell says there are many things that can be done to make themselves more competitive and pad their resumes, all in an article on College Recruiter. “Yes, the Internet is a powerful networking tool. And, of course, network on social networks like FaceBook, Twitter and LinkedIn. But face-to-face contact can be more powerful. Attend local professional networking events in industries you’re interested in. Interested in a Marketing career? Attend your local AMA chapter mixer. Each month, attend as many “live” networking events as possible. Not only will you make a lot of contacts but you’ll become better at “selling yourself” which can help when you interview.”
Ten Job Hunting Tips in a Bad Economy
On Becoming Who You Want to Be, Daniel Zane enumerates a few tricks to ensure that you land and keep a stable job. “1. If you have reason to believe your current position may be in jeopardy, begin exploring other opportunities immediately. But, do it very discreetly. 2. Improve your educational credentials. Take online courses. Think about earning a certificate, certification or degree. The more letters you can put after your name, the better you will look to employers. 3. Network, network, and network some more. You can never have too many professional contacts.”
Recession Marketing Success Requires Boldness
Ed Clark of Branding Strategy Insider makes the case for depression risk-takers from a historical perspective. “Over the years hundreds of studies have been conducted to prove companies should maintain advertising during a recession. In the 1920’s advertising executive Roland S. Vaile tracked 200 companies through the recession of 1923. He reported in the April 1927 issue of the Harvard Business Review that the biggest sales increases throughout the period were rung up by companies that advertised the most. After World War II, Buchen Advertising, Inc. decided to plot the sales of a large number of advertisers through successive recessions. In 1947, it began measuring the annual advertising expenditures of each company. When they correlated the figures with sales and profit trends before, during and after the recessions of 1949, 1954, 1958 and 1961, they found that almost without exception sales and profits dropped off at companies that cut back on advertising.”
by Celine Roque
May 7, 2009 at 8:31 am · Filed under
Tips for Tough Times
Hanging Tough
In the New Yorker, James Surowiecki asserts that spending your way out of the recession is the way to go, citing several examples of companies that benefited from this strategy. “But there’s a trade-off: numerous studies have shown that companies that keep spending on acquisition, advertising, and R. & D. during recessions do significantly better than those which make big cuts. In 1927, the economist Roland Vaile found that firms that kept ad spending stable or increased it during the recession of 1921-22 saw their sales hold up significantly better than those which didn’t. A study of advertising during the 1981-82 recession found that sales at firms that increased advertising or held steady grew precipitously in the next three years, compared with only slight increases at firms that had slashed their budgets. And a McKinsey study of the 1990-91 recession found that companies that remained market leaders or became serious challengers during the downturn had increased their acquisition, R. & D., and ad budgets, while companies at the bottom of the pile had reduced them.”
In A Down Economy, Add Value
If you can’t compete in a price race to the bottom, you need to offer something more. Peter Da Vanzo of SEO Book has a few ideas on what you can do to get ahead. “When an economy is booming, companies can risk being sub-optimal. They can get away waste and inefficiency. They can get away with providing less value, because customers aren’t as focused on the bottom line as they are when cash is tight. In a down economy, it is less likely people will be prepared to pay too much for things they don’t really need. So now we’re in a down economy, how will things change?”
What Becomes Of Talent In A Tough Economy?
Online Spin’s Kendall Allen sounds off on how to deal with hiring and nurturing personnel during down times. “If you’ve previously invested in talent , you’ll want to keep the religion of situating for success. That is, getting this valued talent into the right situation for success now and in the future, instead of focusing merely on the immediate task at hand. Directive, compassionate leadership is especially important during periods of great strain.”
To participate in the real economy
On the opposite end of the spectrum, Sean Sakamoto wrote a guest post on No Impact Man about the virtues of frugal living. “I keep reading about how saving is the worst thing for the economy. The New York Times article from which the above quote is taken described Japanese savers as ‘dead weight.’ The underlying assumption is that we must consume more and more to keep the economy growing. People produce things, other people consume those things, and as long as the numbers go up and up, everything is great. A couple of things bother me about this. One is the matter of sustainability. The air we breathe, the water we drink, and the land we farm is already being fouled as a result of economic growth. How long is this supposed to go on before we look for another principle around which to organize our lives?”
The Upside of the Downturn
Kim Kiyosaki calls on everyone to go back to basics in her article on Women Entrepreneur. “There’s an even more important wake-up call for each individual who is willing to address it–the absolute need for true financial education. We can’t allow ourselves to remain so ignorant that we accept a well-crafted, seemingly sincere but greed-based sales pitch as education or financial advice, and then blindly follow that advice.”
IT in a Bad Economy is like Playing the Game Jenga
MakingITClear’s founder Harwell Thrasher gives his advice on balancing IT priorities, using a well-known game as metaphor. “You’ve got to recognize that there is a limit to how much you can safely cut back on mission-critical areas of your organization. Your CEO won’t know what that limit is – you’ll have to determine the limit yourself. But a CEO can definitely understand that there is a limit, just as there’s a limit in other parts of your company. A key aspect of your job as a CIO is to assess those limits, and to make sure that you don’t weaken your organization or your infrastructure too much.”
Did the Web “Kill the Economy”?
In response to its critics, Sarah Jaffe defends the Internet as a medium, reflects on how it was designed, its effects on piracy, and other issues on Global Comment. “The Web gives everyone a platform, but it does not guarantee an audience. It gives you tools for connection, but does not guarantee that people will like you. It widens your reach, extends the likelihood of running into someone that shares your view, but occasionally it feels like shouting in the dark.”
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