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Accelerating out of the Great Recession: How to Win in a Slow-Growth Economy Hardcover – February 10, 2010
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About the Author
David Rhodes is a senior partner and managing director of the London office of The Boston Consulting Group and the global leader of the Financial Institutions practice.
Daniel Stelter is a senior partner and managing director of the firm’s Berlin office and the global leader of the Corporate Development practice.
Top Customer Reviews
Continuing, the authors point out that U.S. household wealth shrank an estimated $13.9 trillion (22%) in the last few years, while the savings rate rose from -2.7% in 2005 to +5.9% in 2009. Both factors reduce demand. Meanwhile, the GDP-boosting U.S. trade deficit (4.6% of GDP) cannot continue, unemployment and underemployment remain high, and most surveyed business leaders are not optimistic about soon returning to record 'pre-recession' profits.
Soaring U.S. health care costs (17.3% in 2009, expected to hit 25% in 2025 and 37% in 2050 absent fundamental change - Congressional Budget Office) receive almost no attention in "Accelerating . . .," despite the obvious fact it cannot continue. (Suffice it to say, health care reform will not occur on its own, and will have major impact.Read more ›
All very readable and easy to digest, rather entertaining - particularly the elaborate company case studies and analogies from last century - and their (non-)relevance to the current situation. I found the authors' analysis and outlook to be extremely helpful in order to define what the "new normal" we all will have to adjust to is going to look like. Mandatory reading for everyone who has to make long range and global investment decisions (or who is affected by them).
Boston Consulting Group senior partners David Rhodes and Daniel Stelter attempt to do just that in their newest book, "Accelerating Out of the Great Recession: How to Win in a Slow-Growth Economy." The book, which targets high-level corporate decisionmakers, covers how today's economic crisis happened, what the current business environment looks like, and how companies can stay successful in current recessionary conditions.
How They Figured it Out
Rhodes and Stelter surveyed 450 executives in the US, UK, EU, and Japan to get a barometer of the current business climate. Those executives run companies with sales ranging from $1 billion to more than $20 billion. The book, in other words, targets leaders of large corporations, as one might expect from a consulting tome.
Rhodes and Stelter also researched thousands of public companies that succeeded during the Great Depression, the 1970s-80s US stagflation period, and Japan's Lost Decade. Through their research, they determined what factors made those companies succeed. Note that they did not include private companies, and do not focus much outside of their target geography. As a result, the book contains conditions and prescriptions specific to the US and particularly Europe, and is most applicable to large, public corporations.
Inside the Book
AOGR (to shorten the title) is divided into two parts. Part I explains we got into this crisis, what caused it, and why it will take years to recover. It compares the US now to Japan during its Lost Decade (1991-2001).Read more ›
This book is essential reading right now because it is one of the best reviews of the changing consumer mindset as well as building a road map for the future for businesses. They show what businesses that expect to grow in the future must do now. They don't offer pie in the sky take profit approaches, rather they focus on the solid opportunities that exist for companies to build a foundation for a solid future.
The authors use examples from the great depression, the recessions of the 70's/80's as well as Japan's lost decade to build a model of the future. They are also quick to point out that while the bailout of the U.S. economy probably stopped us from sliding into a deep depression, that those ideas were floated during the Great Depression but not implemented, so we have no idea what will happen as a result, it may take a completely different path and we could see another deeper depression in the short term, especially if there (and there likely will be) another huge round of foreclosures.
An interesting fact from the book was that in 1950 it took one dollar in credit to create one dollar of Gross Domestic Product, today it takes five dollars of credit to create one dollar of GDP. With tightening credit restrictions it makes it much harder for the economy to grow.Read more ›
Most Recent Customer Reviews
Accelerating Out of the Great Recession examines the state of the U S and world economy with precision and clarity providing an insightful reference work in just 190 pages... Read morePublished on November 29, 2010 by Mike W
Boring history and economic lessons can drop some students into zonked-out slumber. Fortunately, this book will rouse them. Read morePublished on August 23, 2010 by Rolf Dobelli
Probably contains the most up-to-date and complete instinghts about current recession. I'm giving it only four, because to the end it becomes extremly boring by repeatig general... Read morePublished on August 1, 2010 by n/a
This is a very important book. The two authors are from the Boston Consulting Group (BCG). I am a fan of BCGs research and this book does not disappoint. Read morePublished on June 5, 2010 by Reg Nordman
Of course my instant "title reaction" was "everyone always thinks these are the worst of times and wish for the good old times to return". Read morePublished on May 15, 2010 by Jim Estill
I found the book to be intersting and very timely given the state of business. It is a good read for anyone in client facing postions and who runs a business.Published on March 22, 2010 by Lynne
This is a pretty terrible book, very disappointing. Written by management consultants, it is full of the typical consulting jargon that is so annoying. Read morePublished on March 4, 2010 by JB Chalfont