Developing information (knowledge) strategies to survive the recession - 06/2001

Over 120 knowledge and information managers and executives from the information industry gathered at a seminar in New York City to discuss ëThe impact of a ëìrecessionî on the information marketí, hosted by TFPL Inc., marking the expansion of their New York office.

Deciding that there definitely was a turndown but uncertain as to how long it would last, a panel of four speakers including Tom Stewart, Board of editors, Fortune Magazine; Suresh Kavan, CEO and president of the broker and fund management group of Thomson Financial; Carol Ginsburg, managing director, Global Information Services, Deutsche Bank; and Nigel Oxbrow, founder and CEO of TFPL considered the knowledge and information strategies that can be used to help organizations thrive in a recession.

The consensus of the panel was that:

- The speed of the arrival of the downturn was a factor of the new networked economy and a recovery could happen just as quickly.

- The knowledge economy was here to stay and that a recession might slow down itís development but would not reverse it.

- The impact of the recession would be cuts in spending, budgets and staffing within corporate information services.

- Those companies that had adapted their business models and services to the new dynamics of the knowledge economy would survive better and would surface from the recession faster.

- Information vendors would be vying for their share of a diminished market - and that those who could adapt to new client needs, be flexible and add value would be the ones that succeeded in retaining and increasing revenues.

- Not all was doom and gloom - that the new knowledge economy was in fact still generating new jobs for people with information skills and that most people who were being ëlet-goí were finding new positions.

Tom Stewart, board of editors, Fortune magazine said, ìEspecially at a time when people are watching expenses, it is very important for those in the KM business to associate their work with revenues rather than cost.î He added, ìIf you canít demonstrate the association with money making projects, you shouldnít be doing themî.

TFPL ó the international knowledge and information management, recruitment and consultancy company - held the one day seminar on 26th April 2001 at 55 Broad Street, #20c, New York, NY. The seminar was followed by a champagne reception in their new offices.

www.tfpl.com