Two headlines recently signal that a turnaround is coming. First, the Wall Street Journal recently reported that businesses have quit slashing IT budgets even though they predict IT budgets will be flat into 2010 as companies wait for stability over several quarters before new orders are made.
I saw the second headline in the Atlanta Business Chronicle, Another sign the economy is coming back…. The article states that the Conference Board’s Index of Leading Economic Indicators rose this month, the latest sign that an economic recovery may be around the corner. The LEI, which gauges economic activity in the next three to six months, advanced 1 percent in May, the biggest monthly gain in more than three and a half years. It follows a 0.2 percent decline in April. May’s LEI gain was the first increase in seven months.
This is great news and the question now becomes, “What am I personally doing in my organization to prepare us for additional business and expansion?” The economy may still be fragile, but the time to act is now. To put your organization on the path to growth you can:
1. Evaluate your business processes and eliminate whatever blocks productivity.
2. Update your software versions and ask your IT professionals how technology can help you solve business problems.
3. Give your employees the tools to handle additional tasks as the recession ends. This includes training on topics from software applications to conflict and collaboration.