Don’t let economic uncertainty hamper innovation

Eva PoureshaghNews

In the relatively early stages of the year, businesses are looking to evaluate their strategies in a time of economic and political uncertainty.

In the last few months it would appear that uncertainty has become the new norm. Events like Brexit, the US presidential election and the fluctuation of Sterling, among others, are encouraging an atmosphere of doubt and indecision for organisations.

The unclear political environment means that business owners and managers are trying to weigh up the likely outcomes of our exit from the EU. If the UK is not part of the single market, how will that affect free trade and tariffs? Will the UK be able to benefit from new export agreements with countries outside the EU? Will the changes have a continued impact on the value of UK currency?

Currently there are no answers to these questions, which generates many doubts about what the future holds, particularly for those businesses that trade across borders.

As a result, companies are delaying their investment plans and waiting for more concrete decisions before committing themselves to a future business strategy.

The current trend is to focus on running a lean organisation and keep costs manageable, but this approach can also have a significant impact on progress. However, this results in potential for missed opportunity in growth and connectivity.

Read the full article on Information-Age.com

One Comment on “Don’t let economic uncertainty hamper innovation”

  1. Does lean necessarily equate with progress? I’m sure it does in some cases, but I also feel that in others it can be a facilitator.

    As for trading across borders you have to laugh. The whole globalisation thing began as a cunning plot by developed nations to open up markets for their products. As time has passed and countries like the US and my own UK have considerably slowed down their manufacturing capacity (putting it nicely), it’s nations once considered as ‘developing’ which are the beneficiaries of this policy – flooding markets with mass-produced and affordable goods.

    Let’s see what happens once his wall’s up and Brexit has run its course.

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