Are you Positioning Your Business to Succeed In The New Economy?
ASU’s W.P. Carey School of Business announced that it will honor Jan Hatzius (chief U.S. Economist at Goldman Sachs) with the 2009 “Lawrence R. Klein Award for Accuracy”. Hatzius forecasted the unanticipated global financial crisis more accurately than 50 other top forecasters who participated in an ASU survey.
Hatzius predicts slow growth for the remained of this year and an unemployment rate of 10.5% by the close of 2010.
However, unemployment is a lagging indicator and those who want to take advantage of the economic rebound as early as possible look to leading indicators.
With investor confidence rising in the equity and commodity markets (with major indexes surging and gold reaching an all-time high) and Australia leading the way by being the first major economy to hike its benchmark interest rate (making American exports more attractive there), some business leaders are preparing for expanding markets.
What things are you doing to prepare for success in the new economy?
Does Jan Hatzius speak from a consensus of bullish optimism or is he on the edge of the possibilities frontier? If he is indeed among a growing number of forecasters predicting an upturn, then, what commodities, wholesale products or services does Dr Hatzius suggest will grow businesses? Where is the growing demand for goods and services that will turn businesses to focus ahead? Perhaps, the next posting will shed some light down the path of economic increase.
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I like your question on how we can better position ourselves for the economic recovery, and my answer is "Go to Australia" as an American "export". Why not look globally as more American companies are doing, and finding out how our skills can be of value? I would like to be able to offer support to a global company -- they may have their top performers and subject matter experts wondering how to prepare for their expanding marketplace. As the business environments recover, we should see more companies looking internationally for their expertise.
Helping Magnify Your Performance (R)
Bonnie Mattick
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