Even as we begin to hear about the easing up of the recessionary phase, it is not difficult to see that things are not going to be the same as they were before.
And one of the biggest impacts this recession is likely to have is not in our pockets, but in our minds.
Whether it is you or your organization, the biggest effect may well be the shift in thinking that this recession has brought about. And it does appear to be here for several years to come, for some of the views that you or those that your organization has had – of business priorities, budgets and spending, efficiencies, competitiveness and performance – have all perhaps changed for good.
And in all this, although among the first things you hear often is about cutbacks on IT spend, Technology is, inevitably, going to play that important role of an enabler more than ever before.
But the choice of technology will be different from the way it has traditionally been. From the options that will be available, I think to a large extent, those that are adopted in the coming few years will have to score relatively higher against available options.
The recession does not differ too much from others. We go in, we go through and we come out, unfortunately not without harm being done to people, some more than others.
During and for some time after the recession you will see caution in behaviour of companies. First because they are not sure it is a structural improvement and after that because they remember the pain. Then the market starts heating up, and nobody wants to miss the boat. At that point in time hasty decisions are easily made and risks are often not assessed well enough. This will last until the first few discover that their progressive plans will not be realized and then the “fun” starts all over again. Simplistic view maybe, but at least this is what I saw happening in the last few.
But, after each crisis we have been able to pick up and at each high there has been created more wealth compared to the previous high. New markets, new technologies, new products & services, that enable Customers to improve their lives, and new ways of combining this all (you can call this management or strategies) have emerged. Even during this crisis this process of continuous improvement has not stopped. It is in our human nature or genes if you want. And this is exactly what we will continue to do, but at a higher pace when the crisis is over. Right until the moment that more than a few companies find out that their projections of growth do not fit with reality.
Another interesting thing about this particular cycle is that technology developments like Cloud computing, Social Media etc have also piqued the interest of the technology consuming market and since it coincided with the recession offering low cost alternatives, orgs are looking with more interest at these and I believe they will become part of the mainstream IT investments for the near term future.
To summarise I think the whole thing serves as a periodic reality check, that gives us a need to introspect our excesses and bloat and make a correction of sorts.
Do not agree? Let me know and we can discuss.
Thank you for reading and please feel free to leave a comment!
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