“Crisis is a blessing for countries and people for it magnetizes progress. Crisis is a trigger for great inventions and strategies. Whoever overcomes crisis, overcomes himself.”
Albert Einstein, The Saturday Evening Post, 26 October 1929
Anyone who went through a crisis sometime in his/her life, regardless of its nature, can emphasise Einstein’s words above. Even Plato, in “The Republic,” made this now familiar statement: “Necessity is the mother of invention.” So, let’s take a look at what necessities resulting from this financial crisis might concretize into global opportunities:
- Humanity is moving towards greater humility, recognising their inter-dependence within the global community;
- Small to medium size businesses have an opportunity in their ability to reinvent processes in all kinds of economic conditions;
- For some particular businesses, asset acquisition becomes affordable and tending towards value-for-money over time;
- The use of advanced technologies may reduce costs and the innovators of these technologies will benefit from the present global crisis in the years ahead;
- The American, European and Russian crises may be an opportunity to Japan, China and India to improve their global significance. China and India may also remain preferred destinations for capital at the expense of other emerging nations;
- The ongoing financial crisis may show that the US and US dollar are going to remain significant but they are not going to be the only preferred destination and currency. There is a great opportunity for the Japanese Yen, among others.
Of course, this is just a glimpse on a global perspective of opportunities; the list is endless if we tend to be exhaustive. In future articles, we’ll also take a look at some opportunities closer to particular businesses.