Magazine article Business Credit

When Preparation Meets Opportunity

Magazine article Business Credit

When Preparation Meets Opportunity

Article excerpt

Too often we want to see things the way they should be rather than how they really are. It is a common fault among all people. But in business or our personal life, assumptions based on what we want to believe can be very misleading and dangerous, often giving rise to misdirectional decisions and nonconclusive results.

Credit professionals must conduct business in a world that is changing faster all the time. Our personal, as well as our company's survival, depends heavily on our ability to recognize, understand, and deal with the difficult economic and social issues confronting us now and in the future.

Economic uncertainty, government regulations, new technology, employment downsizing, changing expectations, and changing life-styles of employees means that those of us who earn our livelihood protecting corporate assets must learn new strategies to predict what the future is likely to bring and to prepare to deal with change both rationally and creatively. Adapting to change is not enough. Transforming the old rules may no longer solve our dilemma.

We are all in the midst of the greatest economic and social shift in recent history. For each of us it is clearly a time of transition; no one will be untouched. The old corporate order and its bureaucratic hierarchical organization and structure is quickly eroding. The "Information Age" is upon us. This is an era where structure is no longer a result of always having been that way, but is expected to be modernized, where the individual works in a sophisticated and perpetual learning environment. …

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