Wednesday, January 23, 2008
Many of the nation's business leaders aren't optimistic about the economy. The Conference Board's CEO Confidence Index fell in the third quarter to 39, marking the first drop below 40 since 2000 and indicating more negative than positive responses.
That's not surprising. Consumer confidence is down, companies are cutting jobs in response to slowing sales, and the equity market is wreaking havoc on investments and retirement income. It's not easy being optimistic in such an environment.
But while the economy is weak, it is not on the verge of collapse. Moreover, a slowdown is not necessarily a bad thing, as a business executive once told me years ago. In fact, he saw it as an opportunity to step back, evaluate his company's position and stake out new ground to explore once the market bounced back.
Growth is good, but it can also be an inhibitor, forcing executives to abandon long-term strategic plans to secure immediate gain.
A slowdown isn't to be feared. It offers an opportunity to scout around for the technologies and ideas that will secure future sales.
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