With jitters about worldwide depression and financial meltdown gripping the globe, we consider some scenarios for a busted economy – maybe it is more local than global.
Here at Competitive Futures we regularly tell clients, “Just because something is a disaster doesn’t mean it will be a disaster for everyone.” History is filled with stories of leaders who perceived danger early, acted appropriately, and profited.
I’m a bit fatigued of straining about this financial mess, and naturally began to ask, “OK, what’s going to be
positive out of this?” Despite the ugliness here, there will likely be many positive developments resulting from this crisis of business and governance. One example is quite close to home for me.
My father is in his 28th year running the Rutland Agway, a store dedicated to farm, home, and garden in Central Vermont. Recent economic trends have sent both farming and manufacturing to far-flung states or countries. Giant retailers like Home Depot came to take a piece of the diminishing supply of disposable income in the state. For local stores, things got pretty tight for a moment.
Fleeing jobs and rocketing fuel oil prices are putting a massive financial strain on rural households. How are they responding? By going local – planting gardens like never before. Staying at home, avoiding pricey vacations – and sprucing up the backyard with fertilizer and lawn mowers. And suddenly, times are better in the home and garden business. (On top of it, Vermonters are back to eating their own delicious local foods!)
What else could be positive about this? Think it through – there will plenty of time to think about disaster soon enough.
This is the official trend blog of Competitive Futures, a management consultancy that provides trend research and analysis for business and government around the world. Here, we update you on interesting trends we see as part of our work for our clients.
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