Time to do something more than crisis management
Crisis management is in essence, about remedial measures taken for a disaster. That may be of financial, physical or biological kind. Proper management systems are being set-up to reduce the hardship of sufferers. This has gained ground a lot after Tsunami hit the world in December 2004.
However, with the effects of recession still looming large, even when the cause has somewhat dies, one has to do something more than crisis management. Before banks, institutions and even countries fall like pack of cards, preventive measures are a must.
It is essential to make everything transparent. Emphasis should be highly on position of fixed assets. Any economic discrepancy has to be opened out before it widens into an abysmal gulf. The status of fiscal deficit should be analyzed and a logical system of upgrading adopted. It is insane to think that the deficit will be annulled in a matter of few years.
These countries should also pay attention to small-scale enterprises.
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