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Friday, March 6, 2009

Who Bells the Cat in Recessionary Times?

Who to Initiate and What to Initiate?

Perhaps, everyone. But someone has to initiate. Governments and the corporate sector are the ones who should take the lead to tackle the issues related to recession. Both should try and generate employment as the first step. Both, in fact, have peoples' money. It's people in general, the public who fund the governments and corporate sector by way of various taxes and investments. Public has the real claim on that money. This is the occasion when saving/providing/generating employment should be the first and foremost priority of the governments and the corporate sector. It is best done by starting new projects which will need purchasing goods and services from various organizations and people. The economy gets put into the first gear now. It will need lots of torque though- lots of efforts, lots of will power, lots of missionary zeal, lots of spirituality (nothing to do with religions or gods). And that can alone start the engine of progress once more.

These new projects will provide large degrees of employment to people as direct, contracted and temporary employees in them. Also, these projects will need lots of goods and services from the goods manufacturers and service providers. They, in turn, will once more get into action and will be capable of retaining their existing employees and perhaps, may need to employ more people to cope up with new orders. They may need additional financial support which will give work to banks and financial institutions. This whole cranking of the economic system will give more purchasing power to the public in general and to various organizations in corporate, governments and other sectors. Once more the places will start humming with hopeful activities.

In all this, the governments who are the elected/appointed servants of the public in general and who have to work for the people in general, will have to take the lead role in pumping the new life, by way of not only initiating the new projects but also by supporting the deserving banks/financial institutions and the industries. However, governments will also have to learn to exercise stricter non-corrupt governance over the organizations to whom they will advance the revival money. Also, governments will have to dramatically curtail their own non-value adding, nonessential expenditure. This whole process may give opportunities to some anti-social elements in every organization, including the governments to squander the public money now being used for new projects and as revival packages to banks/financial institutions and the industries. Governments, auditors, justice departments, media and the public will have to keep a great watch on these kinds of corrupt people and will have to deal with them with severe penalties if these people do indulge in such corrupt practices. They will have to ensure that the money being pumped in for revival of economy is utilized effectively and efficiently.

Read the “inside” stories of the corporate sector at: (Management Anecdotes)

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