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   Apple
is still going strong
{thanks to business pundit:
http://www.businesspundit.com/after-the-crisis-a-parody-of-15-corporate-logos/}
It is obvious that the world will change deeply the coming years. This financial
crisis and the recession that will follow marks the end of many things like the
endless capitalism, high bonuses and salaries for 'the happy top', the new
position of (inter)national governments. Many things are changing the moment you
read these lines. Like improving ones home instead of moving to another; giving
the car a better care and wait with buying a new one; second hand websites sell
much more then a year ago; businesses are introducing 'longer life' service for
all kinds of products. Companies try to establish direct contact with their
prospects with sharp priced products; restaurants are less frequently visited,
people try to find their 'happiness' at home.
But most of all things will change between the ears:
 | living on credits is over: too high risks, unwise cash flow
management, no control |
| modesty in spending money, complete repositioning of living
patterns |
| smaller companies, transparent structures |
| open house (open mind) attitude in financial reporting, no more
'fooling around with figures' |
| a new balance between capitalism and 'belonging together' |
| incorporate aspects of' the Islamic way of banking like no
speculation (muqarada), securitized debts (sukuk) instead of complex
derivatives, direct link between loan and asset, shared profit&loss (mudaraba)
|
| renewed emphasis on personal relations, family |
| re evaluation of the importance of stock markets and too complex
products- |
| a more long term oriented management attitude |
Think of:
| new/better sets of business rules, many, many things have to change
and they will |
| better control, limitation of (top)managerial freedom, they can't
handle it |
| segregation of responsibilities, new set of rules, ethical
principles reintroduced |
| transparency, also in full discretionary funds |
| (much) more emphasis for ethical and anti fraud aspects in all
management studies |
| better administration procedures, higher penalties when fraud is
detected |
| making risk profiles of companies public and report on a regular
basis |
| more attention from the media, because anti fraud measures are of
national interest. Journalists should bring them into the news (not only when
some VIP fails), also attention to 'small fraud' |
| the question here is: how to come with interesting news about these
things, many people just want to sit before the television for some relaxation |
| broad discussion with bankers/investors/equity funds about their
responsibilities |
| an end to the high salaries and bonuses, that brought nothing at
all |
| don't accept short term profit bringers, they all failed! (that's
what the economical crisis showed us all) |
| new emphasis on real entrepreneurs, SME's should the basis of a
healthy economy again |
And hopefully:
| an end to extreme salaries and bonuses |
| better international relations, we need each other |
| more modest western world (it's about time) |
| better leaders, fewer managers |
| more modest use of planetary resources |
| better position for non western countries
|
It is generally understood that the Western way banks do business has come to
a stand still. Almost all big financials received huge bailouts and couldn't
survive on their own.
Perhaps it is time we look into another way of banking: The way Islamic
countries run their banking business. We don't look into the religious aspects,
a bank is not a church! But we can learn from each other:
Western banking compared to Islamic banking
| Western banking |
Islamic, Shariah banking |
| Interest on money |
No interest: Mudaraba=bank collects capital, profit
and loss is shared. The bank is risk taking when lending from the bank, so
the customer pays a fee for that or receives a fee when lending money to the
bank
|
| Speculation |
No speculation: Muqarada=securities (sukuk)
for specific projects, covering in real objects/assets
|
| Virtual products |
No virtual products: all loans are covered with real assets |
| Derivatives |
No derivatives, only securitized debts |
| Intangible assets, hardly any connection with the underlying
objects |
Intangible assets: not existing in Sharia banking |
| Subprime loans, at high interest rates |
No subprime loans: Halal mortgage, the bank buys the house
and the customer pays monthly charges. After paying these charges the
customer owns the house |
| |
Musharaka (partnership), joint venture bank/ private
company, profit and loss are shared |
| Profit maximization |
No Profit maximization, also 'be good for society“ is included in the Halal banking system+ banks have a
distinctive role in the social
system |
---
Het is duidelijk dat de wereld de komende jaren verregaand zal veranderen. De
financiėle crisis en de recessie die erop volgt markeert het einde van het
oeverloze kapitalisme, de hoge bonussen, het excessieve salaris van bestuurders,
de nieuwe positie van regeringen, maar vooral de veranderingen die bij ons
allemaal 'tussen de oren' zal plaatsvinden.
- op krediet leven is passe, te hoge risico's, onverstandig geldbeheer, geen
controle
- bescheidenheid in uitgeven van geld, complete herwaardering bestedingspatroon
- kleinere bedrijven, transparante structuren
- nieuwe balans tussen kapitalisme en 'wat hebben we met elkaar'
- meer nadruk op persoonlijke relaties en familiebanden
- herwaardering (in mentale zin) van het belang van de stock market en te
complexe producten
- meer gericht op de langere termijn
En hopelijk:
- betere internationale relaties
- een bescheidener westerse wereld
- betere leiders, minder managers
- bescheidener gebruik van de eindige resources van deze planeet
- betere positie voor niet-westerse landen
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