Although a number of respected analysts continue to be pessimistic, Frost & Sullivan is emphasising the positives.
While the financial crisis has been severe and unemployment continues to be a problem, for the past year Frost & Sullivan has emphasised that firms must seize opportunities in the changing global environment. In the words of one of the world's most successful investors, Warren Buffet: "be fearful when others are greedy, and be greedy when others are fearful."
Holger Schmieding, Chief Economist, Bank of America - Merrill Lynch will deliver this year's Economic keynote address at Frost & Sullivan's flagship client event, GIL 2010: Europe - The Global Community of Growth, Innovation and Leadership. He will provide senior executives with key insight into today's current economic climate and where companies need to stay focused in building their growth strategies to continue back to profitability in 2010.
Supporting Schmieding's perspective of growth and profitability in 2010 is Frost & Sullivan's Chief Economist Vinnie Aggarwal and his analysis of today's market.
"Unless firms are willing to take some calculated risks, they may miss key opportunities," Aggarwal says. "In fact, some of today's top corporations have started in the middle of a recession, with 16 of the 30 companies that make up the Dow industrial average claiming such an origin story."
Aggarwal also notes that Asia's growth will continue to be strong. Many analysts have expressed concern that China's economy is developing a bubble with its rapid 10% growth rate driven by fiscal stimulus in part, but he believes that the continued efforts by the government in China to prevent this have been paying dividends.
Europe, by contrast, is showing slower signs of recovery, with a recent Reuter's poll of analysts predicting growth of 1.2% this year and then 1.5% in 2011.
"These statistics are evidence that companies have no choice and must have a solid long-term growth strategy to recover," says Aggarwal. "This includes looking at prospective acquisitions and investments that will position them for future growth."
Frost & Sullivan's Growth, Innovation and Leadership Global Congress is the only event available to senior executives which is specifically designed to support critical decision-making. GIL 2010: Europe's interactive exchanges will allow for candid discussions, networking, and the chance for executives to benchmark against award-winning tools and strategies.
If you are interested in sponsorship and media partnership opportunities or would like additional information on how attending GIL 2010: Europe can support your business objectives, then send an email to Chiara Carella, Corporate Communications, at chiara.carella[.]frost.com, with your full name, company name, title, telephone number, company email address, company website and country.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.