Wednesday, March 18, 2009

Will the economic crisis break or make us?

In this posting I like to shift the focus to the economic crisis. I think most people in New Zealand started the year confidently. But with increasing news of job cuts and bankruptcies, confidence is ebbing out for everyone. Economists are warning this would be the worst economic crisis. The million dollar question – what can pull us out of this crisis? A young man called in on a talk back show gave this suggestion – instead of viewing money as currency, he suggested viewing it as a language. He did not elaborate much on air, but when I received the third letter informing of a price increase for services supplied to my house, what he meant became obvious. All blamed the economic crisis for the price increase. Image the letters in the hands of one who has lost his or her job - that was bad language.

One or two premium corporations generously announced that their top managements will not be taking a salary rise this year - money that they or their firm have not yet earned – that is poor language. What is good language – CEOs and Directors could decide to contribute five or perhaps two percent of their salaries toward securing the jobs of two, three or even more of their employees’ jobs for the next twelve months. I can image the employees responding to such gesture by volunteering to give up a day’s wages or share the security with fellow workers. That’s hard core branding exercise when the story hits the media – excellent language skill.

It’s all about changing our attitudes, and if we do change, we will come out of this recession better off then we went in.

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