I would like to welcome a new guest blogger to my site, Matthew Smeed, who works as an Analyst at my University spin off company Robertson Cooper. I hope you enjoy his post and I hope to welcome him back again soon.
Matthew Smeed
The last few months have undoubtedly been a difficult time for many people as the economic downturn takes a firm hold. However, as Cary said in his recent Obama-related post, we have to look for the positives – and rest assured there will be positives that fall out of these hard times. For example, Cary has also mentioned in previous blogs that this recession may create more cohesion within our society, but another possible outcome is an increase in innovation and constructive change in the workplace.
When times are good there is certainly less motivation for people to be creative. Some people / businesses naturally think long-term and plan for the future in a proactive way – they are constantly taking action to improve their surroundings. However, many others would not naturally contemplate change when everything is going well – it just wouldn’t occur to them. And that’s fine up to a point – as the old maxim says ‘if ain’t broke, don’t fix it’ – but there is an inherent danger of complacency creeping in and people getting caught by the kind of dramatic changes we have seen recently. So one possibility is that the recession might ‘shock’ people who would not normally do so into having to innovate and take action.
No one likes change for change’s sake – but now we’re in a situation where it’s more like ‘change for necessity’s sake’. This is where the recession may have a positive impact – businesses have to balance thinking long-term – seeing beyond the recession – with looking for shorter-term opportunities that are presented by emerging market needs during the downturn. Thinking about how to re-direct or re-apply the vast array of technology at our disposal is just one way in which we should now be innovating. Another is leveraging the power of human relationships – by getting together in groups and networks to discuss ideas for handling the situation we find ourselves in.
This is how the economic downturn will actually promote practical and strategic changes in businesses and it may be the case that many of those that have gone to the wall so far were too ‘flabby’ anyway – they got that way during the good times and have been the subject of a natural correction. There are plenty of examples from the past of how difficult times breed innovation – for example, World War II gave rise to some of the greatest technological advances of our age and some of the greatest music of the last century has been borne out of economic hardship; while economic security tends to breed ‘safe sounds’.
So, adverse conditions can bring people together and trigger innovative thinking. Financial and social problems create a sense of urgency and a collective feeling that solutions must be found quickly. People start working on problems that they didn’t know existed the year before and consequently come up with solutions that are relevant in the here-and-now – solutions that the mass market is often crying out for.
We have to remember that there will always be bad times, but it’s how we deal with such setbacks that is critical. It’s important to heed the lessons that the recession is teaching us – but it’s just as important to remember them when times are good again. If we get it right we will all be stronger for the experience.
For more on the Recession and Creativity read the Personnel Today Blog – The Work Clinic
Hi Matthew, I totally agree with your post. I was only discussing this very topic with a colleague last week. There are plenty of people and businesses doing well around the world amidst the gloom and doom of a global recession.
Yes, we can learn from hard times. We can also maintain a healthy, focused state of mind too!
I think we can choose to be successful during difficult economic times.
Cheers
Tim