Reflecting on the economic crisis of 2008, we are probably just beginning to understand the magnitude of the changes that are happening around us. One has to wonder whether this is just another cyclical downturn in the ongoing development of the global economy, or a fundamental shift in future business practices.
My belief is that both are true. While the current downturn may impede global economic growth, the recent expansion of world trade and the economic development associated with this expansion will not be held back for long.
As we watch what is happening around us, I also believe we are experiencing a fundamental shift in significant sectors of our economy that will have a lasting impact on business. The shift, I believe, is primarily related to economic and environmental sustainability. In the economic context, we all strive for a sustainable brand and profits, but today we also must adopt practices for the use of renewable resources and hold the business accountable for the environmental impact of our activities.
Necessity is the mother of invention, and this notion represents the silver lining, or should I say green lining, of the economic crisis of 2008. One of the most significant innovations that will come from skyrocketing energy prices and the crash of the financial bubble will be growth in the alternative energy industry.
The logistics industry will be a key support mechanism in the development of these new sources of energy. The movement of sensitive solar panels or oversize wind turbines, to and from unique locations, will require specialized care and creative solutions to tough physical and environmental challenges.