Volatility creates opportunity
“Never before have uncertainties in the economic and business environment had such an impact on companies,” says
In his keynote presentation at Outokumpu Experience, he drills into a topic few others have: the critically important distinction between volatility and unpredictability.
What was true in commodity prices, currencies and growth performance of emerging markets just a few months ago can shift drastically, rapidly and without warning. A further danger exists if volatility distracts companies from focusing on essentials like key trends and competitive advantages.
Time for being imaginative
But a volatile world, Garelli notes, should not be confused with a totally unpredictable world.
Imaginative thought, Garelli says, is more important than ever. Volatility in the market creates a good opportunity to think differently.
"In traditional sector industries like steel, that kind of imagination is critical. What will be the business models of tomorrow? How will customers react? What kind of added value do they really need, and are they ready to pay for it? Who will be the partners and their competitors in a global economy?”