We believe in “self-help.”
What is unique in this cycle is the difficult relationship between business and government, the worst I have ever seen. Technology, productivity and globalization have been the driving forces during my business career. In business, if you don’t lead these changes, you get fired; in politics, if you don’t fight them, you can’t get elected. As a result, most government policy is anti-growth. In the U.S., we want exports but seem to hate trade and exporters; globally, governments love small businesses but then regulate them to death. And so, we perpetuate a cycle: slow growth, poor job creation, populism, low productivity, higher regulation, poor policy and more slow growth. We now live in a world where the most promising growth policy is “negative interest rates.” In the U.S., 2015 was the 10th consecutive year when GDP growth failed to reach 3%, a rate that used to be considered our entitlement.
We don’t try to pick a cycle, or time a market, or complain about elections. We will always act to get more out of this economy than our peers. We believe in “self-help.” We are aggressively managing our cost structure to capitalize on deflation. In 2016, we will fund a record level of restructuring.
Jeff Immelt GE 2015 Shareholder Letter
Yes in the business world i have seen 2 trends in the last 10 years
a)Big data is slowly winning. Information & knowledge will win against "experience" & habit
b)The best has open a big difference from the average. It is the best of times to be nº1
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