Friday, November 13, 2009

A Long History of Economical Recessions

I was reading an article today about a survey that KPMG conducted on the way companies accross the world had reacted towards the economical recession and how they were planning for the future years.

This is something that not very long ago I was discussing with a friend in Mexico who had just started his own business. I was asking him if the crisis was not affecting him and he said something very true, he said, "Mexicans are used to facing economical crisis, we live with the constant fear of being laid off, or going bankrupt all the time. This recession is just one more of many!". According to the survey, Latin American companies were coping better with the situation and were applying lessons learned from previous crisis to overcome this one, while North American and European organizations were finding it harder to manage.

To me, what really stands out here is the will power and strength these cultures have to fight these crises,  they work harder than ever and learn from it for future experiences. People don't quit easily, they are willing to do whatever it takes to keep their job, or their business. They are very creative and they are always looking for ways of making more money and reaching out to more people. They may not be the tech geniuses coming up with the social media and networking sites in the internet, but they are very good at identifying needs and gaps and filling them to the best of their ability.

It is sad to see that people have become strong because thay have had to endure these difficult situations so many times, but their strength, hardworking nature is something that cultures around the globe should appreciate and consider and in the end also learn from. Countries with strong economies should also be better prepared for these situations and they could probably do it by borrowing some of the Latin American expertise (for lack of a better term).

Due to the bad situations in many of these countries a lot of us have immigrated and are now willing to put all  of our strength and power in the workforce of our new countries. We are very open, hardworking people who are constantly looking for opportunities to show the world how much we are worth.

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