In Sunday’s Boston Globe, long-time reporter, editor and Business Intelligence columnist Robert Weisman wrote an interesting column, “What will business as usual look like?” In the column, Weisman cites an essay in the March 2009 McKinsey Quarterly entitled “The New Normal,” written by McKinsey’s worldwide managing director Ian Davis, which makes interesting points that:
“It is increasingly clear that the current downturn is fundamentally different from recessions of recent decades. We are experiencing not merely another turn of the business cycle, but a restructuring of the economic order.”
I think McKinsey’s David and the Globe’s Weisman are absolutely correct to call this business environment “The New Normal.”
I just wished they had acknowledged that this blog had identified this new phase in a post on Nov. 7, 2008.
Davis referred to his article as “a Conversation Starter.” I refer to it as a “Conversation Continuation.”
But it’s worth reading the Globe and McKinsey articles even if they don’t cite my article.