5 Tips to Manage Your Finances Before a Recession

Strategy Driven

In the global economy, there are always highs and lows. Here are five tactics to make your finances recession-proof: 1. Savings is an integral part of personal finance management. Instead of getting upset in a crisis, we should upgrade ourselves.

In a Pandemic, What’s the Best Strategy for the Global Vaccine Alliance?

Harvard Business

How experimentation, judicious risk taking, and entrepreneurship in finance and capital markets could lead to a Covid-19 vaccine. Experimentation Crisis management Product development Audio

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What This Pandemic is Begging Leaders to Look At

Lead Change Blog

All eyes are on the leader when a crisis hits. And, no one wants to live in a world filled with a super-contagious global virus and government leaders who quietly hope it will just go away. It turns out that no one wants to be led by leaders in a crisis if that’s all they see and speak up about. This pandemic has placed a spotlight on realities that existed long before the crisis hit. If you had fluctuating finances, that’s likely worse now.

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The Globalization Backlash Is Reverberating Through Boardrooms

Harvard Business

Evidence of de-globalization — think Brexit and other attacks on international interdependence — is everywhere. Boards of directors of global corporations will increasingly face strategic choices and capital allocation decisions framed by mounting geo-political risks. As a practical matter, for example, these changes in the global policy regime are forcing multinational corporations to scale back and sell parts of their international operations.

Finance Can Be a Noble Profession (Yes, Really)

Harvard Business

When I ask students graduating from Harvard Business School what they’re doing next, I often get some version of “I’m going into finance but…” Then they quickly explain that finance is just a way station on the route to nobler goals. Recently, I asked a few students how people react to their choice to go into finance, and I was greeted with nervous laughter. How will the crisis of problematic loans in Italian banks be resolved?

There Is No Time To Hurry Up And Wait

N2Growth Blog

M aking any progress, process transformation or change across American communities and throughout the global business communities as usual is always hard and usually requires a significant investment of resources – people, finance and effort. Communications Crisis Management Leadership Public Relations Rants Strategy avoid crisis Crisis Leadership ferguson learning risk Risk By Damian D. “Skipper” Pitts.

Business Complexity has Grown Significantly Since the Financial Crisis

Strategy Driven

New research confirms the financial crisis has significantly exacerbated business complexity. Complexity stemming from globalization or technology rank much lower in the list of causes. Approximately half the respondents represent firms with $500M USD or more in annual global revenue. A minimum of 125 respondents are from the finance function and a minimum of 125 represent functions other than finance.

When a CFO’s “Head In The Cloud” Is a Good Thing

N2Growth Blog

Even though many are still behind the curve, there has been a considerable technological evolution of finance function. Going global has broadened the playing field, and CFOs have to be aware of all risks facing the company.

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Why P2P Lending Makes Complete Sense for Startups

Strategy Driven

percent, despite the global pandemic crisis. Here’s why P2P lending is an ideal business financing option for startups and SMEs. Lenders needn’t support 100 percent of the financing; rather, it is pooled by many lenders. Hence, startups looking to reduce their business costs can benefit from this type of financing. Managing Your Finances business management crowdfunding Peer to Peer Lending strategydriven

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The Euro Crisis: Italy's Turn

Harvard Business Review

So far the crisis has claimed a lot of political scalps in the severely indebted countries, most notably and recently that of Silvio Berlusconi. It's a sign of some of the (potentially dangerous) strain that the crisis is having on the political systems in these countries. Crisis management Finance Global businessIt's no longer about the small fry.

Question the Euro Crisis

Harvard Business Review

After more than 18 months, a dozen and a half summits, multiple rounds of austerity, a trillion dollars of liquidity, and now elections in Greece and France that threaten to overturn the fragile policy consensus in Europe, the Euro-crisis rumbles on. Now that they have been exposed in the crisis, we should ask if the new mechanisms designed to overcome these issues (new fiscal rules and a bigger banking firewall) would in fact do the job. Economy Finance

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Financial Fears, Flows, and Globalization

Harvard Business Review

As readers of this blog already know, markets are far less integrated internationally than popular views of globalization presume. Our current problems stem, in part, from the special characteristics of finance, which as Keynes noted , is highly dependent on sentiment and, as Hyman Minsky emphasized , therefore particularly susceptible to crises. Before the crisis, many authors advanced frameworks in which international capital imbalances were supposed to be a "win-win" phenomenon.

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Market Correction? Try Perma-Crisis

Harvard Business Review

Why does everything we try to fix this crisis seem not to work? I suggested, instead: a historic, generational crisis — not just a crash, but a titanic reconfiguration of the global economy. What kind of banking crisis is this? Is this a liquidity crisis? Is this a solvency crisis?!" In 2009-10, when the prevailing narrative was "Ah, that was just a banking crisis — we're going to recover next quarter!! Crisis becomes stagnation.

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Research: How the Financial Crisis Drastically Increased Wealth Inequality in the U.S.

Harvard Business

We overcame this challenge by compiling the Historical Survey of Consumer Finances (HSCF) — new data for long-run inequality research in the United States. We document that such a decoupling existed for the four decades before the Financial Crisis. For the bottom 90%, asset price changes were particularly important, accounting for the dominant part of their wealth growth before the start of the global crisis in 2008. Then the financial crisis happened.

France's Existential Euro Crisis

Harvard Business Review

Given that, I wonder whether there isn't a third option being secretly dusted off inside France's Finance Ministry. I said, the euro crisis is, for France at least, an existential one. Economy Finance Global businessBy now it's pretty clear that the various euro zone rescue packages are all being designed with the German electorate in mind.

Europe’s Other Crisis: A Digital Recession

Harvard Business Review

You may have heard that Europe is in a state of crisis. The crisis we speak of has even more severe consequences for Europe’s global competitiveness. And a recently released report suggests that Europe’s digital divide problem extends way beyond the Atlantic; Europe is a distant third behind North America and Asia for $100 million plus financing for VC backed companies. Policy Global strategy Internet Europe Article

Breaking Through | A New Frontier of Technology and Innovation

N2Growth Blog

Global connectedness is blurring borders and time zones. The biggest crisis of the century, the COVID-19 pandemic, represents an excellent opportunity to deploy new technologies.

History Rhymes in the Greek Debt Crisis

Harvard Business Review

That Greece with a population of a mere 11 million and a GDP of $300 billion (only 2% of the Eurozone economies) can create systemic risk for the world speaks volumes about the downside of global interdependence. On August 13, 1982, when Mexican Finance Minister Silva Herzog met with officials of the U.S. Leaders worry about Spain, Portugal, and other debtors following Greece into a broader crisis. Economy Finance Government

News International's Leadership Crisis

Harvard Business Review

Among the many shocking facts that have emerged from the News of the World hacking crisis , it is the revelations about News International's dysfunctional leadership and the NoW's brutal organizational culture that have gripped me most. But the NoW's purpose was always clear: to be a sensation-generating, money-making machine that titillated the public and financed NI's more respectable titles, and this it did brilliantly.

Why Europe Tops 2015’s List of Global Risks

Harvard Business Review

In 2014, global political volatility reached an intensity not seen since the end of the Cold War. Taken together, what do they mean for global businesses? That seems somewhat surprising given that the Euro economic crisis seems to have tailed off, or at least plateaued. Clearly the economics of Europe are better than they were in the teeth of the Eurozone crisis. But the fact is that when there’s a big economic crisis, we are capable of responding.

What Executives Really Need to Know About the “Emerging Markets Crisis”

Harvard Business Review

As currencies and stock markets have tumbled in emerging markets, the business media has been dominated by cries of an “Emerging-Markets Crisis.” The media uses “emerging-markets crisis” as shorthand, but recent market turmoil was actually about relatively few countries. Last fall my research team at Frontier Strategy Group designated Ukraine, Turkey, and Argentina as most vulnerable to a liquidity crisis because of their high levels of short-term external debt.

2020 Top CHRO List – The People Leaders To Watch

N2Growth Blog

We find ourselves amidst the challenges of living and working in a triple-threat world of a global pandemic, economic instability, and political unrest. Few are better in a crisis than Buckingham – she is steady, but also possesses the ability to see around corners.

Tackling Big Global Challenges with Low-Cost Innovation

Harvard Business Review

The Global Digital Economy. To keep the rise of global temperatures below 1.5 In its latest report , Harvard’s Joint Center for Housing Studies points to an “affordability crisis” in the U.S. Finance. These digital pioneers are using frugal innovation , rather than distributive economics, to tackle the global wealth inequality crisis. dave wheeler FOR HBR.

The Irish Banking Crisis: A Parable

Harvard Business Review

The country in question was Ireland — today, in deep crisis because of profligate banks. The global economy wasn't as tightly, sharply interdependent. But Ireland is just one piece in a bigger puzzle: a global economic conflagaration that refuses to sputter out, the result of a global economy pursuing dumb and dumber growth. And perhaps failing to recognize that is what's really at the root of this great crisis.

The Irish Banking Crisis: A Parable

Harvard Business Review

Umair Haque Blogs Umair Haque On: Global business , Competition , Economy The Irish Banking Crisis: A Parable 4:33 PM Monday November 29, 2010 | Comments () Email Tweet This Post to Facebook Share on LinkedIn Print Once upon a time, there was a country where bankers disappeared. The country in question was Ireland — today, in deep crisis because of profligate banks. The global economy wasnt as tightly, sharply interdependent.

The Ex-Im Bank Fight and the Future of Global Competitiveness

Harvard Business Review

But, this old Congressional debate, sparked by critics who want a return to smaller government, obscures the profound global economic issues which the U.S. The Ex-Im Bank was formed in the 1930s to help finance U.S. Today, it provides financing support to exporters or to their customers overseas, when, per its charter, private credit is not readily available (locomotives to Kazakhstan, medical supplies to Viet Nam). Competition Global business Government

Is Your Supply Chain Ready for the Congestion Crisis?

Harvard Business Review

With growing congestion a global megatrend, companies have a choice. A looming crisis. First, it’s important to understand the magnitude of the coming congestion crisis and its underlying drivers. Longer supply chains also increase inventory levels and carrying costs related to financing and warehousing. The same logic can apply to distribution logistics when global distribution centers are replaced by regional warehouses.

Inside Job – Unveiling Economists’ Ties to the Financial Sector

Strategy Driven

America and the world are still recovering from the global economic crisis of 2008. PBS NewsHour Economics Correspondent Paul Solman talks to Charles Ferguson, director of Academy Award winning documentary, Inside Job , a film that raises red flags about the world of finance. StrategyDriven Editorial Perspective financial crisis Paul Solman PBS Newshour strategydrivenAnd with unemployment rates above 9 percent, many wonder if the market turmoil will ever end.

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The CIO in Crisis: What You Told Us

Harvard Business Review

Enterprise IT is in crisis — no doubt about it. Our research, conducted in partnership with Harvard Business Review, The Economist, CEB (formerly the Corporate Executive Board), Intel, and TNS Global, finds that corporate leadership has lost confidence in the CIO as a strategic partner and views IT as a commodity rather than a difference-maker.

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How Corporate Boards Connect, in Charts

Harvard Business

Everyone knows that large companies share board members, but it’s hard to appreciate just how enmeshed global governance has been for decades until you see the connections. Carroll from the University of Victoria to show how companies’ boards interlock and to study the implications for when a crisis hits. We plotted shared directorships among 176 large companies in 1976 and 2013, two years that followed a major global economic crisis.

April 2021 Leadership Development Carnival

Lead Change Blog

Stephanie Skryzowski of 100 Degrees Consulting provided How to Create a Monthly Finance Routine. Stephanie shares: “ In this post of the 100 Degrees of Entrepreneurship Podcast I’m sharing the monthly finance routine you can use to grow your business and your bottom line. We’ll explore the reasons you really need a finance routine and how it can be both a measure of progress and a crystal ball into your business’ financial future.

2011 ASA Deming Lecture by Roger Hoerl – Need Any Country be Poor?

Deming Institute

2011 ASA Deming Lecture by Roger Hoerl, GE Global Research: The World Is Calling; Should We Answer? For those of you that have read Out of the Crisis, Deming asks in that book: Need any country be poor? His talk focuses on the big picture and what are the ways we can make the biggest difference in improving people’s lives globally. respect for people video data evidence based management finance health care statistics webcasts

Does Your Team Have a #1 Priority?

Great Leadership By Dan

The finance person’s priority is budgets and profit/loss statements. When leaders don’t clearly define the top priority, often, by default, the market, the crisis, the loudest voice, the squeakiest wheel or the most urgent request defines the priority.

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The Coalitions That Could Hold the EU Together

Harvard Business

First, there was the fallout from the 2008-9 financial crisis and the arguably ill-judged imposition of austerity on the Union’s southern members. Combined with the migration crisis, this encouraged the rise of populist anti-EU movements. Under Chancellor Angela Merkel, Germany has occasionally been willing to bear a disproportionate burden of the costs of crisis management. Economy National competitiveness Global strategy Europe Digital Article

The (Postponed) End of the Dollar Era

Harvard Business Review

Remember "global imbalances"? Some even argued that they'd caused the financial crisis. I did a quick search on Factiva to verify this impression: 495 mentions of the phrase "global imbalances" in the first three months of 2009; 175 mentions in the first three months of this year. is a big shortfall — one that takes hundreds of billions of dollars of new foreign capital every year to finance — and the gap shows no signs of shrinking further.

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The Last Days of the Dollar Era

Harvard Business Review

Two years ago, Minnesota Republican Michele Bachmann made one of her first impressions on the national consciousness by railing against what she said was an Obama administration plan to replace the dollar with a global currency. In some ways we'd actually be better off if the dollar weren't at the center of the global economy. Without some major course corrections, the country is eventually headed for a real — not politically induced — debt crisis.

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The False Promise of Free Capital Flows

Harvard Business Review

In the Wake of the Crisis: Leading Economists Reassess Economic Policy collects essays by economists who are, indeed, leading — and are reassessing that orthodoxy. The macroeconomist David Romer concedes that the performance of pre-crisis state-of-the art models — some of which he developed — was "dismal." Policymakers there deferred to orthodoxy in their words but not in their deeds — and avoided crisis. Economy Finance Global business IMF

The Economic Impact of the Japanese Disasters

Harvard Business Review

Bold recovery plans would seem to be in order, but how that response is financed holds great import for Japan's economic future. Japan often shows itself at its best in times of crisis, setting aside internal differences and responding with inspiring levels of efficiency and self-sacrifice. This crisis will be no different as far as its response to humanitarian needs is concerned. Crisis management Economy Global business

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How Europe's New Gold Standard Undermines Democracy

Harvard Business Review

Add to that the problem of intra-European financial markets with "national" regulatory institutions and the lack of a Europe-wide deposit insurance scheme or common debt instrument, and one can start to understand why the euro zone is going through an existential crisis with still no real end in sight. Financial elites across Europe and America could therefore run a global financial system based upon gold where the external price of a country's exports dictated internal prices and wages.

The End of Banks as We Know Them?

Harvard Business Review

A global world needs global banks — whether we as their local customers like it or not. Even before the banking crisis of 2008, something was gradually, but undeniably, in decline. In many cases, banks have sacrificed the needs of the local community — and indeed the belief in the community ideal — in the scramble to go global. That globalization has come at the cost of local service. It is something I call community financing.

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The End of Banks as We Know Them?

Harvard Business Review

A global world needs global banks — whether we as their local customers like it or not. Even before the banking crisis of 2008, something was gradually, but undeniably, in decline. In many cases, banks have sacrificed the needs of the local community — and indeed the belief in the community ideal — in the scramble to go global. That globalization has come at the cost of local service. It is something I call community financing.

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Would Christine Lagarde's Talents Be Wasted on the IMF?

Harvard Business Review

She has had done an admirable job as France's Finance minister, showing composure and resolve during a crisis that would wither weaker dispositions. Yes, she is a finance minister but her background is in the Law; she was the first woman to run Baker & Mackenzie, the famous US law firm and founded its European arm. Finance Global business Government

What Macroeconomists Are Missing

Harvard Business Review

Interestingly, though, the very first paper he assigned me, " Credit and Banking in a DSGE Model of the Euro Area " was itself pretty dismissive of pre-financial-crisis macroeconomics: Despite its importance for policy-making, most quantitative macromodels employed in academia and policy institutions until recently contained only a very primitive treatment of the interaction between financial and credit markets, on the one hand, and the rest of the economy, on the other.