The Confederation of British Industry have released a fascinating news release, speculating that the recession may be the catalyst for a new era in business.
“The business environment of the next decade will be significantly different to what might have been expected just two years ago. The financial crisis
and the recession that has followed have altered operating conditions by imposing new challenges and exacerbating existing ones. Businesses will respond across the organisation, moving to a more flexible, collaborative and leaner model.“
The report identifies four areas where fresh approaches will develop:
– alternatives to debt-driven growth
– critical scrutiny of relationships with partners and even competitors
– sustainability and ethics to become more integrated into the business model
– a more flexible workforce will evolve; assisted by developments in technology and training.
If correct, this may genuinely be the start of a new approach to business that goes far beyond the UK borders. A new approach that may involve lower short-term returns but greater stability.
Time will tell if we’ve truly learnt our lesson from this recession.