3 of 4 people found the following review helpful
A Playbook For The Future For Business Owners And Entrepreneurs,
This review is from: Accelerating out of the Great Recession: How to Win in a Slow-Growth Economy (Hardcover)
The authors do an exceptional job of describing the current economy and economic decisions leading into the current situation in layman terms. They also effectively layout the potential future outcomes based on actions being taken worldwide right now. The book also does a great job of explaining the global impact of U.S. economic decisions as they relate to the bailout and 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.
The study of the new consumer behavior is very astute (though some would say you might have already observed some of the behavior) and will help those in retail particularly thing through new strategies.
My only criticism of the book is that I'd have liked to see a much more detailed section on how different sectors could respond and a section on projected growth segments. Exceptional book, quick read, and there is something for every business owner in the book.