I was speaking at a conference in NYC last week where one of my fellow speakers was the CIO of Allianz, Americas. During a panel session he discussed their scenario planning process and how various scenarios would impact their business, their operations and their global services initiatives. He mentioned a 'worst case' scenario and was later asked what the 'worst case' scenario might look like.
His response started with "Dow 6000". He ended by indicating that the worst case scenario would bring about behaviors on the part of companies that were unpredictable and unforseen.
So here we are on Monday, March 2 at 1:21 EST and the Dow is at 6,821 (down 241 points for the session).
It seems an opportune time to make sure we all have our worst case scenario mapped out and know what actions we intend to take if (or more likely when) the Dow hits 6000. That's the risk management angle.
On the other hand, I have not seen a better time in the last 10 years to be a buyer of ITO and BPO. Vendors seem to be throwing themselves at buyers creating an environment where the main challenge for buyers today should be self restraint in not negotiating to levels where quality and sustainability suffers.