If these economic jolts of last few weeks are called recession; I am pretty amused by it.
– Pleasantly amused by my all brokers (companies like ICICI Direct, Kotak) sending me mailers explaining different plans and simple logic behind them. None of them cared a quarter back. Last year it was a “take it or leave it” attitude.
– Pleasantly surprised that companies are talking about online, mobile, low cost models, leveraging technology etc etc. A quarter back, everybody was in a land grab mode – open as many outlets as possible, hire as many people as possible
– Pleasantly surprised when I went to my school back at ISB. Students’ expectations seem to be with rest of the world. An year back – everybody was dreaming for a Cr job
I think two main +ive developments have happened:
1.) Businesses are willing to spend time with their customers. There is a thought of “Customer Retention”.
2.) Cost of doing the business – from real estate cost, talent cost etc has come down.
Overall, I think lot of arrogance, which comes with growth have moderated. I understand that a recession also brings lot of pain (I lost my entire savings of last year) but I think it’s necessary to set things right for further growth. Thoughts? Comments?