Own the Future: 50 Ways to Win from The Boston Consulting Group

Chapter 49

Strategic Optimism: How to Shape the Future in Times of Crisis

Hans-Paul Bürkner

For a while, during the height of the financial crisis, the world stared into the abyss. But in the end, there was no repeat of the Great Depression. Instead, there was what has become known as the Great Recession.

The concerted efforts of governments and central banks played a critical role in staving off a 1930s-style depression. But the actions of individuals and companies will shape the next phase of the recovery.

The Glass Half Full: Optimism in Times of Crisis

It is all too easy to take a dark view of the decade to 2020. After all, there are several reasons to believe that growth in the global economy will remain sluggish for some time—even the once fast-growing developing markets such as China and India have slowed.

Companies and households are facing years—and governments are probably facing decades—of deleveraging; this bitter medicine will depress consumption and investment. Countries, in their efforts to prevent unemployment from rising ever higher and to champion the cause of local businesses, are engaging in protectionist measures; these moves could slow globalization. And regulators are clamping down on banks in ways that will constrain credit and investment.

We should be clear-eyed about these challenges and their implications. But we should also recognize that the world today is primed for change and filled with opportunity.

The fundamental drivers of growth are stronger ...