New paradigms emerging, or old ones resurrected?
The emerging pandemic challenges everything, and certainly when it comes to business we have to think very carefully about what is ‘good’.
Some of the most robust businesses we see have not followed advice of consultants/advisors. They have no debt and probably don’t even know the name of their bank manager. They probably own all their property/factories/plant. Their boards have directors who have been in place for decades and dominated by those who really understand the business inside out, their owner/managers have drawn meagre salaries and been ridiculed by others who tell them that their balance sheet is ‘lazy’.
Whilst there is much uncertainty, it does seem certain that our views as to ‘what is good’ in the world of business are set to change. Do we need to invent new paradigms or merely look to those who ran enterprises before high levels of debt became fashionable?