what are the positive things coming out of this recession?

Yes it's true recession time taught me the values of time,money and knowledge. It's good time to learn about yourself, manage ur staffs. Take positive things frm the whole chain ppl it means high sal ppl to low level staff.

During times of a recession, many people tend to pick up healthier habits. Families often curb the number of times a week they eat out. Many choose cheaper, healthier home-cooked meals. In an economic downturn, people tend to pay more attention to the household cash flow. Bad spending habits are examined. Saving becomes a top priority. People often take the time to figure out how to live within their means.

b'coz of d recession we learnt d cost cutting. New biz players r entering/introducing them in indian market(e.g. fujifilm).

People have understood that  saving money is also important, espeially if one looses his job but has some saving he can carry his boat till recession subsides, secondly if national economy is only depended on industry then the coutry gets into trouble at such timesspending

During tough times we can clearly distinguish our strengths from our weaknesses, and whoever had done the right exercise will come out much stronger. There is a fall in interest rates and a check on inflation. This is especially good for those who want to start a business; also quality work force is cheaper and easily available. For India I think from middle class whoever had a secure job and had a saving habit were real gainers, set aside maturing or liquidation of assets, heavy fall in housing and realty prices. I read a CEO saying one of the positive effects of slowdown was that they gained from reduction in employee turnover.  Corrections also can be highly rewarding. It gives ample opportunities for vulture investors and excellent value investing options.

All experiences are good and do have educative value. The World Economic Crisis is no exception. By and large all the countries have faced it as a challenge; and we should say all of them have reacted very logically. They put their heads together, analyzed the situation well.

The people all over the world have better understood the importance of savings and the need for being prudent. Many governments and organizations are now more realistic and give equal importance to high profitability and control over expenditure.

Many employees have understood the value of their jobs and need to show restraint in taking up commitments.

In fine, this crisis has caused a welcome awakening; it has yielded more good than harm.

It was an EYE OPENER for the Organization in terms of cost management, optimum resource utilization, redefining all the processes to better manage them, coming out with innovative & cost effective ways to sell, keep the employees happy and motivated.

An EYE OPENER for the employees in terms of perform or perish..kept everyone on their toes and made them realize their potential and talent an their weaknesses as well...taught them the skill of stress management.

Those who have come out of it strongly will have this advantage all their life...for them the future might just be a cakewalk but still they will know what its like to be caught on the back foot and so will be prepared accordingly always.

I totally support your view....I went through all of it..and in the end got what i wanted!!High Five!!:-)

support your view

The reccession period bring back the quality of product and talent of emplyee. Just before the recession every unqualified person also got lot of money. Now only qualified / eligible person can do the job or survive in the world. Only some lucky people enjoying.

It has taught the young generation the value of saving and prudence in economics. The speedbreaker came at right time to teach the ills of EMI living. As a result our youth is more matured and poised to take more balanced outlook to life. We are in for brighter future.

During recession i could not found a suitable job, which I aimed at. But the gap of few months helped me understand what I am actually looking for in my career. During this period I updated my skills nd learned many other skills which added value to my profile. & today I am on job which I am interested in.

Spend thrift, less avaricious, even more productive to stay untouched, down to earth, saving attitude for rainy season, every cautious etc. etc. we can add many more.....

The positive thing that has come out in my life because of this turmoil is the more clear understanding of the working of the Economic Science theories. Another lesson I learned was never depend too much on what is writen in the dailys regarding Economic theories especialy for decision making. So many books came out which gave blow by blow commentry on the turmoil which contridicts many of the news about the downturn the News paper reported. For example the turmoil and the blow up of the Banking in US was attributed to subprime mortgages. When we read books like "Colosal Failure' and "House of Cards" we see that subprime delinquencies wouldn't have made a dent on American economy, it was the closing of the Repo window on Investment Banks that helped in pulling down their shutters. Probably even a 20 or 30% default of subprime mortgages wouldn't have killed these great Institutions like Lehman or Bear Sterns if they had enough liquidity to prevent a Bank run. So it is not after all the demise of the Capitalist free market theories of Adam Smith or JM Keynes, as reported in dailys or the demise of America but lack of co-ordination when it was very much needed.

At least the engineering students look back towards core branch of engineering which is most important for the growth of the nation. At least it is understood that the red tap in processing papers in Indian banks come to rescue this time.

lot of data to be prepared for the impending recession..

A phase of recession was a reality check for the world and was like & lesson of "survival of the Fittest". It showed a mirror to all & effect is different at different level.

At Global Level :

It has given new definitions of developing and developed nations. It reorganized the world order in terms of who is G7, G20. Recession phase gives indication that the new global problems will be global warming, disaster management and they will replace problems like neclear disarmament etc.

More important, it emphasises the need of closer cooperation among the nations to fight common problems.

Corporate Level :

It gave opportunity to the companies to pause and take a stock of their financial soundness. Recession phase may have harmed some companies, but forced many companies to control their operations and attain financial soundness.

Individual Level:

For individual families, it was like a rude awakening. Was like a reminder that, good time may not always last. It was also lesson for saving for difficult times.

During good times, any company can survive. There are enough resources going around and anything is possible. During recessions, only those that provide good products or services will remain.

Another thing that emerges in bad times (albeit war or recession) is the innovativity of the people. Most inventions are made during war and recessions because there is a need to use less resources or to helps making other products more available. This is the time that unique bussinesses are created.

Just listing out some positive outcome of the recession. But if you compare it with the damages done by the recession to any sector, the damages outweigh the benefits too much. Mostly b'cos the correction was too sharp- its like suddenly tripping your leg when you are running so fast!

• The inflationary 'cream' generated by the greedy completely wiped off- be it in the form of exorbitant fees, inflationary salaries or inflationary consumer prices.
• Employees are awakened- They are enlightened to acquire more skills to be competent enough in the market.
• Employers are also awakened- to ensure better and efficient production lines- better use of resources, avoiding extra costs, value engineering etc.
• Living costs has come down in some economies.
• Has given time to some 'too busy' professionals to sit back and re arrange their life and work!

In the recession, since many people were losing their jobs, in order to maintain them, employees were strengthening and updating their skills. Many more were learning new skills which were adding values in their total skill sets which will now help them forever and will make them more competent. This was the positive output from this recession...

Good debate Mr. Hemant...