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Issue #31
Date: June 1, 2019

This Month in the RSI Newsletter:
» Performance Evaluations: Good or Bad?

Performance Evaluations: Good or Bad?

On a daily basis, companies are confronted with a myriad of situations that have a significant influence on the overall morale of the organization...

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RSI Executive Search Firm Company Newsletters

The RSI Executive Search Firm News Center Articles area helps keep you apprised of developments, news and events in your Industry. The RSI Articles area also features "Career Corner," a series focused on Candidate / Job Seeker topics, and "Management Matters," an article series focused on Employer / Management issues.

Industry Trend:
An Age of Expansion
June 1st, 2019

If we take a look at history, it is very easy to see the cycles of economic and technological development and decline that occur across time. There have been several waves of development since the 18th Century that have helped to spark some of the most impressive turning points in the history of the world. There are five of these cycles that are generally called Kondratieff Waves, named after Russian theorist Nikolai Kondratieff. Through extensive study and observation, Kondratieff came to the conclusion that capitalist markets move through a boom and bust cycle. Here are the five big waves that occurred as growth was sparked throughout the cyclical trends of the capitalist markets.

The Industrial Revolution, in 1777, was one of the initial waves that took place in the 18th Century. It introduced the world to mechanization and the world of factories as people began to gather and live in cities to be close to these factories. As things began to advance a little further, in 1829, the coal-powered steam engine surfaced in England and the railways became an ideal form of transportation. Then beginning around the 1870s, steel began to be mass produced which led to improvements in transportation as railroads became a lot more common, steamships were able to sail all the way across the world, and bridges and tunnels were built that were previously unimaginable. In 1904, the automobile was introduced to the average American household thanks to Henry Ford’s vision and the Model T. This made transportation easier and helped drive the steel, auto, and oil industries into an economic boom. Now we are heading towards the end of the fifth wave which is the age of information technology. When Intel created the microprocessor it introduced a whole new possibility of personal computers which impacted businesses across the world.

As each new cycle began, it helped to diversify the world with new types of organizations and jobs, more innovative management styles, and totally different ways of doing business. This process does not take place over night, and it usually takes an economic downfall to create a turning point like this. Despite the fact that times appear rough during a turning point, or recession, a lot of the strongest organizations are built during a transitional period. Recessions require new, up and coming companies to be innovative and think of new ways of doing business. According to Carlota Perez, the Author of Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages, there are two major phases in the Kondratieff Cycle that are split up by a recession or turning point.