Friday, September 9, 2011

Business world after 9/11

After the attack on twin towers in US, the affected people again started to earn their living slowly but some changes were permanent and which changed the way we do business, the way we treat our employees, the way we look at innovation and so on..

Most of the industries have sailed through recession. To cut down the cost, remain competitive and make higher profits companies have to cut down their employee strength. A good thing coming out of this is that there are more employee assistance programs to maintain the same quality.

Because of uncertainty and insecurity of jobs more and more people are looking forward to become an entrepreneur. Although start-ups are still tough but there is indeed greater respect for entrepreneurial freedom in the corporate world.

People have realized the need for saving the money. The reason why countries like India , although which are greatly dependent on US economy, are able to attain a growth rate of 8 to 9%  is that here people prefer to save 20-40% of their income and stay away from loan and credit purchases. Buyers are making more conscious decisions than before.

Security concerns have made us to rethink the way we interact professionally and reduce our reliance on physical presence at the site. There has been a brand building on internet on sites like facebook, linkedin, twitter etc. before there is an actual handshake.

Last but not the least, the 9/11 aftermath has rebalanced work and life. People have started taking time out for fun and family out of their work.

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