What can Wall Avenue be taught from the tech business’s job stability?
In keeping with MSNBC’s The Backside Line, these working within the tech sector had a great 12 months in 2011. Most notably, they had been (apparently) a lot much less prone to lose their jobs.
Simply three years in the past, tech corporations introduced they’d get rid of greater than 174,000 jobs in 2009 — the business’s highest quantity, The Backside Line stated. The variety of “deliberate job cuts” fell in 2010, and since 2011, they’ve been decreased to only 37,038. Whereas numerous jobs had been misplaced final 12 months, the advance is undoubtedly spectacular. This reveals that the know-how sector is making actual progress. And that ought to make these on Wall Avenue surprise: what can we be taught from the tech business?
With out query, market variations have to be taken into consideration. Proper now, know-how is booming. The world is transferring from bigger DVD-drive laptops (and infrequently desktops) to lighter and quicker moveable machines and tablets. Smartphones are slowly changing the necessity for different gadgets. In step with these adjustments, know-how corporations are experiencing a outstanding increase as shoppers rush to purchase the newest and best devices from their favourite producer.
The monetary group has not been so fortunate. Wall Avenue would not have any new or modern merchandise to intrigue the lots. Quite the opposite, the monetary group nonetheless makes a lot of its cash from the identical companies it has offered for generations. This makes it troublesome for the sector to revive buyer pleasure. Consequently, Wall Avenue has needed to journey out the robust occasions and hope that the economic system recovers — and that issues ultimately return to regular.
However is there one thing lacking within the sector? Is there something the monetary world can be taught from know-how?
For starters, how about some innovation? If it could actually’t be a totally new product, how a few artistic or modern method to ship an current services or products?
Second, the tech business has not been afraid to department out. Just lately, we have seen hands-free gadgets, contact screens, social networking and a number of different technological options hit the automotive business. Beforehand, this was an business that tech corporations barely cared about. Possibly it is time for Wall Avenue to take the same tack and attain out to recent markets and industries.
Lastly, Wall Avenue wants to enhance its picture. As of this writing, the Occupy Silicon Valley motion isn’t as sturdy as Occupy Wall Avenue. Why? As a result of in Silicon Valley, individuals do not understand that there are such a lot of issues that want fixing.
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