What a difference a year makes. Last year we were all focused on expansion and revenue growth. The Internet was changing the world dramatically, and everyone wanted to be associated with a dot-com. E-business was going to transform how everyone conducted business. If you were not connected to the information superhighway, you were destined to languish with the rest of the old economy and your company's survival was in question.
Then came the recession and the events of September 11th. The pendulum has now started to swing back toward the more traditional business model. Where revenue growth was once the most important criteria in evaluating a company's success, companies are now focusing on profit. Layoffs and restructuring are now commonplace as companies strive to demonstrate profitability and fight for survival.
Those of us who have been in business more than 20 years recognize the return to some of the key management tenets that have been in place over the years. Some of these include the move from decentralization to centralization. The need to evaluate projects based on ROI and embark only on those that add to the bottom line will be considered. Security and recoverability are critical to every corporation for data, applications, networks and Web sites. Performance management has become critical to all corporations as they try to consolidate and make better use of all the technology that was purchased over the past five years.
For those of us who felt that all the preparation for Y2K was a non-event, consider the possible outcome if all of this preparation was not in place prior to the terrorist acts in the U.S. We would undoubtedly have witnessed a higher degree of chaos and a much deeper recession.
With an eye on sound business practices, let's look forward to a steady recovery in 2002 and greater prosperity in the years ahead!
Register or login for access to this item and much more
All Information Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access