As recent media reports suggest, the dreaded “R” word—recession—is looming large across the horizon of most western and global economies. Many organizations have had to scale back their spending and reduce costs. Due to the cyclical nature of our economy, certain industries will fare better than others.
As a result of the savings generated by the cost reduction efforts, decisions on
recent Business Week article, Bruce Nusbaum, assistant managing editor in charge of the magazine’s innovation and design coverage says, “Winners always emerge out of recessions, and they almost always beat their competition on the basis of something new.” Nusbaum cited Apple as a powerful example. During the last recession, Apple worked on its iTunes and iPod . When the recession was over, retail stores immediately did gangbuster business with these products, and the company’s stock soared.