By Steven B. McKinney

McKinney Consulting, Inc.

During the past year all that we have heard is bad news. Personal retirement accounts depleted. Houses foreclosed in record numbers due to payment defaults. Unemployment levels are at record highs. Untouchable mega companies go small or disappear from off the map. And many people have merely jumped ship.

In the famous story of Jonas on the rough seas he asked to be thrown overboard to avoid taking responsibility for something he was suppose to do. He was obviously selfish and was thinking of only himself. However, usually our actions do affect others. In the case of Jonas his ship mates loss their cargo, their profit and almost their lives because of their association with him. The actions of the financial institutions and associated industries have affected many people around the globe.

Now to the good news. …read on

Often times we get a second chance.  We should learn from the past and avoid repeating mistakes by taking proper action now.

Serious organizations have had no choice but to look at all aspects of their businesses. Every area has been put under the microscope and analyzed.  No one wants to make the same mistake twice. This year’s poor performance can be written off on the economy, but the word on the street and in the CEO suite is that this excuse will not work for next year’s performance.

Changes are already occurring that should prepare us for a brighter tomorrow. The latest senior executive recruitment polls are showing signs of improvement and global stocks are on the rise.

• South Korea’s third-quarter growth was positive which is giving the Korean economy a faster-than-expected rebound.
• Also, Korean corporate profitability was reported to have risen to the highest level in over a year during the third quarter. Lower oil prices are one of the reasons for Korea’s growth.
• Now South Korea’s GDP forecast for next year is expected to grow at 4 – 5%.
• Looking around the globe we find that Hyundai’s USA sales have reportedly increased by 46%!
• According to the January 2010 issue of SUCCESS Magazine, a few people caught their attention and are perhaps good examples for change in the future. For example, Irene Rosenfeld, CEO of Kraft Foods Inc., sold off failing brands and focused her energy on only the best-known and most profitable products, exceeding second-quarter expectations and turning a profit, in spite of the economy.
• Jack Dorsey, Biz Stone and Evan Williams forever changed the way we communicate and disseminate information when they launched Twitter, which grew by 1382% earlier this year. Twitter is not the only one; Facebook has over 300 million users currently and LinkedIn (which been around since 2003 but didn't really take off until last year) has over 50 million users since Oct. 2009.
• Amazon.com founder and CEO Jeff Bezos changed the way consumers shopped for books when he launched Amazon in 1995, and now he’s changing the way booklovers read books with Amazon’s Kindle e-book reader.
Since we started off with the “bad news” and particularly highlighted the financial industry it seems only fair that we end with saying something positive about that industry. According to SUCCESS publication Leonard Abess Jr., CEO of Miami-based City National Bank, sold his majority stake in late 2008, and rather than pocket the proceeds, he divvied up the $60 million he’d made in the sale among 399 current and 72 former employees.
So, let’s look for the good news and for a second chance to better this next year better than this past year.  Happy holidays.

Steven B. McKinney is the Founder and President of McKinney Consulting, Inc., a retained Executive Search & Coaching firm based in Seoul, South Korea. His connection with Korea goes back more than 25 years. During this time he has developed a refined expertise in helping multinational companies and leaders succeed in the region. Steve is also the Industrial Practice Leader for IMD International Search and Consulting.

McKinney Consulting Inc. is a member of the Association of Executive Search Consultants (AESC) and is a partner firm of IMD International Search and Consulting.  Founded in 1972, IMD International has more than 40 offices and 175 consultants worldwide.