If there's anything that the recent attacks in Mumbai have taught us - its the need to be prepared & vigilant at all times. The world order is changing - and has caught a lot of us unawares. As if the recent financial crisis - and its feared ripple effects on the world economy are not enough to keep us on our toes, events like these serve a grim reminder about the lacunae in our defenses.
Businesses, like governments can learn from disruptive events such as these. It is more imperative now, than ever to design flexible & adaptive business models - one's that can not only react to external stimuli of change - but can also mold themselves to new realities.
In the US retail world, with Green Friday - just behind us - the heartening news has been that deep discounts offered have definitely drawn shoppers out. In fact this year the average spending has gone up by 7 % to $372.57 for Friday through Sunday. However, there are a couple of things to watch out for. One, deep discounts ultimately imply smaller margins & profits. You simply have to sell that much more - to make up for a healthy bottom line. This combined with the fact that there are fewer shopping days (27 Vs 32 from last year) left to Christmas this year - can still mean a tough holiday season for most retailers.
The one thing to keep in mind is that bail-out plans can only go so far in propping up an economy. Its sound business management, the ability to run a tight ship, and making the right investments for the future that will determine which companies shine in the new world economy.
In Mumbai and India - its time though for introspection - and for taking firm measures to ensure the sacrifices of those that laid down their lives do not go in vain. For now we solemnly pay tribute.
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