We are watching markets tumble and increasingly it looks like a double dip recession is on the cards. Last time the global economy wobbled, we had come out of a period of growth. We had money to pump into the markets, fat to take out of the system, greed to blame and the wear-with-all to spend our way out. Nowadays it may require a complete rethink to address the economic downswing.
Inherently our thinking has been guided by our experience, but confronted by a new series of variables that we haven’t seen before, we need to address the thought architecture which informs our decision making.
For example, the banking sector is very risk averse and is guided by credit risk, rather than economic growth. This means that credit is effectively granted to those people who don’t need it. This effectively excludes most of our population from the opportunity to become entrepreneurs.
In the recession of 2008, those people who were most at risk, lost their jobs and livelihoods. This time around it is going to be those people who were economically less at risk, who will be left blinking in the train light wondering what happened. People who were secure in their jobs and with sensible saving plans are going to feel the fall out.
Already London is falling victim to the mob violence, perpetrated by marginalised youth who have seen their parents exposed to the austerity measures, losing out on health care, the job market and support. This youth is using social media to propogate their agendas. No-one is condoning the looting and violence and we recognise that this has been taken advantage of by criminal elements, but the underlying truth is that the economy forms the backdrop to some very disturbing events. Social media is not only a weapon for good, but also a weapon for social mayhem. Human behaviour, good and bad is exacerbated.
The only way out of this potential crisis is to change our way of thinking and to reinvent our response to a new economic future, whether we are individuals, businesses or politicians. We need to recognise that more people are disenfranchised and that it is not just bad people who are losing out.
The world has changed; we need to innovate to meet new challenges. Perhaps we need to start looking at the fundamental variables which have changed, like the economy, societal changes, globalisation and social media to adjust our thinking.
About Digital Bridges
Digital Bridges creates high performance organisations by unlocking the business value of the web. We create digital strategies, user requirement and functional specifications for Intranets, websites and web applications. We also develop and implement social media strategies and create powerful digital brands using eMarketing and Communication.
Digital Bridges has recognised the changes to the enterprise environment, brought about by enterprise technologies like social media and SharePoint 2010 and is focussed on this. We partner with great technology companies in order to ensure that our solutions are fit for purpose and deliver on organisational strategy.
We have also partnered with Innocentrix to bring Spigit Innovation software into this country.
Digital Bridges approaches the web from a management consulting position and relies heavily on rigorous academic thinking as well as business experience. It is headed up by Kate Elphick who has a Law degree and an MBA from GIBS. Kate has spent the last fifteen years of her career on the business side of the IT industry with companies such as Datatec, Didata, Business ConneXion and Primedia. Her skills include innovation and growth through marketing, communication, collaboration, knowledge management, human capital, performance management, process engineering and BI.
Digital Bridges has a broad range of experience working with significant, successful clients in the Financial, Gaming, Tourism, Pharmaceutical, ICT, Legal, Airline, Professional Services, Media and Public Sectors.
To find out more about Digital Bridges, please visit www.digitalbridges.co.za or contact Kate Elphick on firstname.lastname@example.org.