05/04/2024
Thanks Management It's Friday.
Except for a few industries, most clients have shared with me their challenges in this economic downturn and they conservatively speculate the trough may last for 4-5 years...at least.
In the Global Risks Report 2024 from the World Economic Forum ---
"As we enter 2024, 2023-2024 GRPS results highlight a predominantly negative outlook for the world over the next two years that is expected to worsen over the next decade (Figure A)."
"Extreme weather as the top risk most likely to present a material crisis on a global scale in 2024 (Figure B)"
https://lnkd.in/etqYdC_J
There are many sayings around the surge of sudden deaths worldwide. Here's one saying. You can look up more:
"Amid fourth winter of death, COVID excess death toll approaches 30 million globally" https://lnkd.in/egW6UJCk
Besides being an unpopular amplifier, here are my suggestions ---
I am a pessimistic optimist. I think with what's going on in the world, some of our systems may be permanently destroyed. So I think for every company, if you didn't restrategize your biz last few years, you should do it now. If you are a Group, it is time to reassess each business line and ops and decide which parts to spin-off, sell or monetize and how your bread and butter can be modernized through tech or trade finance in the new territories. If you are a single biz, consider merger or streamline. Reengineering is not new. Better face the pain now than later.
As for individuals, I think everyone should start building sustainable careerS. Some learned with me in workshops and coaching during 2020-2023 should revisit and refresh materials I had shared with you. The principles still stand:
1. Look at the megatrends. Ask yourself how they will impact you and where do you stand now?
2. Where do you want to be and what competencies do you need to keep, enhance and build to transform yourself in the future world?
3. Keep testing your ideas, skills till they give you greater assurance. Brace yourself with mental and psychological health so that you can surf through the increasing uncertain times.
If our grannies and parents survived all the misfortunes in last 60 years, might they be wars, financial crises, involuntary migrations, illnesses...we can too. https://lnkd.in/evtWssmQ
Yes, they rock the boat. But together, we can rock the world.
Get in touch now. I may soon gather a team of / / .
"Very truly I tell you, unless a kernel of wheat falls to the ground and dies, it remains only a single seed. But if it dies, it produces many seeds." John 12:24