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Managing Director - Entertainment, Media and Communications Bob Caruso
2010 Predictions
Jan 08, 2010
Happy New Year! Twenty-ten is finally here and, as with all pundits, I felt it appropriate to make some predictions about the coming twelve months. My focused predictions that I’ve spend hours meditating on are a result of personal trend analysis coupled with some old fashioned intuition.
Developing leaders - Top Priority
Over the past decade formal leadership development has been neglected and put aside for more tangible investments by most businesses. The lack of focus on coaching and mentoring the leaders of tomorrow has come to roost. Many organizations are facing dire shortages of experienced young leaders to take the reigns as the initial thrust of boomers begin leaving their seats. Succession planning with appropriate formal programs to groom the next group of leaders will become a top issue for every organization. With growth on everyone’s mind the time to prepare leaders is now.
Resurgent New Product Development Funding
Skinny spending on “new stuff” development is over. The unfathomable sales slumps of the past 24 months have focused most businesses on reducing inventory (both hard and soft) to extremely low levels. Though spending on R&D has remained basically flat over that period I envision a significant push towards new product introductions in every sector through 2010. Economists foresee a double dip recession before the world economy pulls itself up in mid-2011. To be prepared for the hockey stick rise in sales within 18 months new product development funding must be in place today.
Upsurge in Virtual Companies
With our reported 10% unemployment there are millions of skilled, experienced Americans that will never look for a job again. This highly talented base will begin to expand the number of virtual companies within the economy. Groups of people with complementary skills will band together as individual contributors under their own banners to compete for available work within the economy. The entrepreneurial spirit will take it from there.
I wish everyone a prosperous, healthy and happy 2010!