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What Are the Business Repercussions of the Election?

Saturday, November 1, 2008

The Society for the Advancement of Consulting® (SAC) has asked its global membership to reveal how the election of Barak Obama (and not the economy alone) will impact business in 2009 and beyond. "It appears to be a time of the critical nature of perception," notes Alan Weiss, Ph.D. and CEO of SAC, "which may provide the President-elect with a rare opportunity to bolster businesses and consumer attitudes."

Dr. Maynard Brusman is a consulting psychologist and leadership coach and president of Working Resources, a strategic talent management firm in San Francisco, California. www.workingresources.com, www.workingresourcesblog.com. He specializes in executive coaching for developing emotionally intelligent leaders and lawyers. He offers a few insights:

"Now that the dust has settled and Barack Obama is the US President-elect, restoring confidence will be a major priority. We just elected a President whose most striking leadership quality appears to be exceptional emotional intelligence and social intelligence. He has the capacity to listen from a place of independent solitude during times of crisis. He has the ability to inspire and energize the American worker.

"Our next president will need to get business out of this psychological and economic funk by strategically setting goals so that we are competitive globally. Businesses will need to focus on strengths and capitalize on our inventiveness.

"Our new leadership will need to improve ethics in business. Many American companies didn't seem to learn from Enron. Although some of the bailouts may be necessary, it rewards bad business practice. GM in order to survive needs to make fuel efficient cars we want to buy. The new administration will hopefully focus more on creating green and sustainable businesses.

"The greed and corruption of business leaders and others that got us into this mess in the first place needs to be addressed."

Ed Poll, J.D., M.B.A., CMC of Venice, CA (www.lawbiz.com) is a coach to lawyers across the country helping them become more effective with their clients, more efficient and more profitable. He comments about the election as follows:

"History has been made! The Civil War's aftermath may not yet be over, but we have taken a major step forward. Still being in the midst of a financial crisis, however, it may be difficult to project what the election will mean to business. There is a hope springing forth that did not exist just a few days ago. This will not be enough to right the economic ship, but it is a start. Americans have pulled through before and are convinced they can do so again. As our President-elect said, it won't be quick ... and it won't be easy. Expectations will need to be adjusted, a new reality needs to be created. But, creative entrepreneurs, the heart-beat of our economy, will persevere. Value will sell, not hype. We need not fear that. Create value and people will flock to your products and services."

"From the looks of "black Friday" and "cyber Monday," and following the largest week-long market percentage increase is years, it just may be that confidence in leadership is beginning to pay dividends," notes Weiss. "More appealing to business, we've learned, is the rather centrist position President-elect Obama has demonstrated in his early appointments. We're cautiously optimistic for a more rapid return to economic stability and strength than we were a few months ago."

 
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