The New Normal

During the Global Credit Crisis (GCC) of 2008/2009 one of the most frequently asked questions of our global team of 20+ CEO business mentors by business leaders in almost every sector and most countries has been "when do you think this will all get back to normal?".

With the worst of the global economic crisis behind them, many executives look forward to stable markets and smooth growth.  The broad outlines of the post-recession economy, however, suggest the opposite. While many emerging markets are still growing fast, in most mature economies consumer spending is spluttering as unemployment erodes confidence and household deleveraging curtails disposable income; an overhang of excess capacity coupled with more cautious lending policies may dampen investment; Uncertainty is rising on key dimensions including inflation or deflation, exchange rate volatility, and regulations, while the traditional sources of uncertainty, including geo-politics, technological innovation, competitive dynamics and environmental changes, remain. The "new normal" may be new, but it certainly won't be normal in the sense of smooth growth and predictable markets.

At the root of the problem is a mismatch between the challenges businesses face today and traditional management models. Leaders need to rethink and revamp their organisational model to align with current challenges and opportunities, to make better decisions under uncertainty, and move to more dynamic management in a more complex and unpredictable world environment.

What is certain is that when we finally enter into the post-crisis period, the business and economic context will not have returned to its pre-crisis state. We will be an environment that, while different from the past, is rich in possibilities for those who are prepared and risks for those that are not.

For the BLF 2010 we have chosen speakers to address the question "what will the new normal look like?" We will look at this from a cultural, political, sociological, demographic, philosophical point of view as well as what it means for businesses and business leaders. We don't believe we can address "what to do?" until we have understood the context in which our business and lives will be fused. We will discuss the question "What are the underlying drivers that are going to shape the world that my company and I must survive and thrive in? How can I make myself and my people more flexible and agile to face unknown unknowns?"

Your hosts (Merryck & Co.) and sponsors (PwC) can help you after the event with "what to do next and now?"