For a few days over the last couple weeks, I was convinced the New York Times had shut down its offices and stopped updating its website. The same scary headline about the stock market’s dramatic decline coupled with a jagged graph showing a steep drop seemed to show up day after day. Of course, the Times didn’t close, but the market did continue to drop. 600 points here, 700 there, and you could literally see people’s retirement funds evaporating into nothing.
If you weren’t at least partially scared about the state of the world’s economy, my guess is you either have your entire life savings safely tucked away in a shoebox under your bed, or have decided to ride out the market fluctuations and try to ignore the daily trends.
From the enterprise perspective, there is a lot of fear about the prospect of spending money. The need to meet more stringent budget requirements has become increasingly commonplace. However, organizations that approach the issue as an opportunity are the ones that will likely be the most successful in the long run.
While it may be challenging, the tightening of purse strings creates opportunities for researching new ways to save money. Coupled with companies’ recent attempts to become more environmentally-friendly, this need to better stretch budgets creates a perfect storm for getting companies excited about researching and ultimately using tools such as network energy management solutions that reduce energy costs and also curb harmful carbon emissions.
It’s a similar concept to gas prices. While no one enjoys paying over $4 a gallon at the pump, absurdly high prices do force consumers and car companies alike to put more effort into researching environmentally-friendly vehicles that cost substantially less to operate on a weekly basis.
The reality is, tough times make us carefully think about our options. To consider solutions that will serve our future generations well is a skill we haven’t always used in the past, but one we must increasingly use in the future.