ConMoto’s founder and Managing Partner Dr.-Ing. Ralf Feierabend
In a recent survey, Allensbach institute observed some worrying opinions: 74 percent of the respondents are quite concerned or even very concerned about the impact of the Corona epidemic on the German economy. Accordingly, 49 percent expect the German economy not to be able to defend its strong position, but to fall behind.
People aged between 30 and 59 were interviewed. What is the reason for this pessimism? The German Angst? Or do we have to dig deeper? Compared to Europe and America, Germany is mastering the crisis quite well. In Asia, unfortunately as usual, the trend is much more positive. A German company has registered the first vaccine. It has already been licensed in the UK. The stock market is booming, the euro is growing stronger and stronger – all of which indicates that the situation is actually better than the mood.
A pessimistic mood may be responsible for tomorrow’s problems
A poor mood leads to buying restraints. People between the ages of 30 to 59 are the most important group for private consumption. It’s possible that the current concerns create the economic problem of tomorrow. Hidden behind this are credibility issues. There is a lack of transparency and leadership. What applies to the country also applies to a company. Corporate governance is based on trust. Thus, it is important that a management gains and preserves the trust of its employees. Trust comes from transparency and truth. The prerequisite for transparency is, that all facts are recognizable at a glance. Every manager must always have their most important key figures (KPIs) in mind. Useful insights may be acquired mostly by following their development. How does which key figure change? Which influencing factors apply? Can the resulting change be controlled? Employees quickly recognize whether the statements of the management are well-founded – or rather meaningless slogans just to sustain motivation.
In an increasingly complex and volatile world, transparency plays an ever-growing role. Transparency and a reliable risk assessment are prerequisites for good corporate governance. In the area of tension between opportunities and risks, the entrepreneurial reality takes place. Both poles must be equally minded by responsible business leaders. This is definitely not a question of optimism or pessimism! This is a matter of right or wrong, of reliability or negligence.
Based on this, business leaders must provide their employees with a perspective. The same applies to politicians and a country’s population. Where we are heading, the dangers lurking by the wayside and how we can successfully cover the route. Entrepreneurs are in demand – entrepreneurs with courage, confidence and a sense of responsibility.
Dr.-Ing Ralf Feierabend Managing Partner of ConMoto