Living with uncertainty

The authorities in the US and Europe have the right policies in place to tackle the financial crisis, but it will take time to restore confidence in the markets, according to speakers at the World Knowledge Forum. James Wolfensohn, who had led the World Bank during the Asian financial crisis in the late 90s, told the forum’s ‘Live on Wall Street’ session that the markets have ‘yet to be convinced of the utility of these interventions.'

http://knowledge.insead.edu/LivingWithUncertainty081007.cfm?vid=101

Rethinking global financial systems

The consensus is loud and clear: in the wake of the worst global financial crisis since the Great Depression, a fundamental rethink of the structure of the global financial markets and greater cooperation of the major regulatory bodies are paramount, said the heads of major financial institutions at the World Knowledge Forum in Seoul.

http://knowledge.insead.edu/RethinkingFinancial081016.cfm?vid=99

Can China help power the global economy out of a crisis?

With the credit crisis buffeting global economic growth, China’s industrial production and construction declined due to weaker export orders, factory closures for the Beijing Olympics and the sagging property market. However, retail sales growth remained strong, while inflation eased amid falling commodity prices. Nevertheless, Dominic Barton, Asia Pacific chairman of consultancy firm McKinsey & Company, is “very bullish about where China is going to be over the next two to three years."

http://knowledge.insead.edu/ChinaGlobalCrisis081003.cfm?vid=100

Creative entrepreneurs can survive the crisis

Creative entrepreneurs can weather the current global economic crisis better than traditional businesses, says Jean-Claude Larréché, INSEAD professor of marketing. Virgin Atlantic, which was founded by British entrepreneur Sir Richard Branson in 1984, survived and came out stronger after the airline crisis of the early 1990s when many established airlines went bankrupt, notes Larréché. Speaking via satellite, Branson said a lot of opportunities will emerge as a result of the current global economic slowdown but companies need to be nimble to move quickly and decisively to realise these opportunities.

http://knowledge.insead.edu/CreativeEntrepreneursSurviveCrisis081008.cfm?vid=105

Sound long-term strategy is key, particularly in a crisis

With the current global economic downturn and dire predictions of a re-run of the Great Depression of the 1930s, the forecast is all doom and gloom.

But Professor Michael Porter of Harvard University, a leading authority on competitive strategy, begs to differ. He believes this time of great economic upheaval to be the tipping point for companies – if only they know how to harness the right strategies.  

http://knowledge.insead.edu/StrategyCrisisMPorter081011.cfm?vid=97

Gucci: In the business of selling 'dreams'

As many look to cut costs to cope with the worsening economic downturn, you would expect consumer spending patterns to be adversely affected, with the luxury goods segment being one of the hardest hit.

Not so according to Robert Polet, chairman of the Gucci Group. While he agrees that consumer psyche vis-à-vis buying behaviour has taken a hit, he believes that his company is in the business of selling dreams – and you can’t put a price tag on a dream.

http://knowledge.insead.edu/GucciDreams081019.cfm?vid=104

The show must go on: Cirque du Soleil’s recession-proof formula

As we brace ourselves for what threatens to be the worst economic slump since the Great Depression, one company seems to be relatively unscathed by the global financial meltdown. According to Daniel Lamarre, president and chief executive officer of performance troupe Cirque du Soleil, whose shows still play to sell-out audiences, he is confident that his company will ride out the recession.

http://knowledge.insead.edu/CirqueRecessionProof081013.cfm?vid=107