Word: factor
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...company's eyes and ears for detecting illicit activity, regularly bears the brunt of redundancies during a slowdown. "When that layer's removed, you've eroded your internal processes which are there to control fraud or misconduct," says Hitesh Patel, fraud-investigation partner at KPMG in London. A key factor in fraud cases during Britain's last recession, in the early 1990s, it amounts to a "change to business strategy, without a change to the business process," says Patel...
...What else can brands do combat this recession? They can play off something I call instant justification. When the buyer from the family goes out and buys this Louis Vuitton bag, it's actually hard to remove the guilt factor when she's in the store. She now has to come home and justify to her husband why she bought this during a recession. And when you look at the curve of guilt, the biggest spike is maybe seconds after you bought that bag, because the only thing you are thinking about is how to justify the purchase. So what...
...brain partly responsible for fear. During the recession fear is really growing to immensely higher levels. Advertising in the United States will start to push the fear button. Amygdala activation will grow more in the future, and we will see more and more brands which appeal to the fear factor. They say, "Use my product and if you don't use it, some bad stuff will happen." That's one trend I find scary...
...fourth or one-fifth of the West German currency, so when it was swapped in 1990 at parity, the competitiveness of the local economy took a nosedive - compounded by a quick doubling of wages in the east following reunification later that same year. "There was a revaluation by a factor of eight. Which industry anywhere could swallow that?" Haimann asks, pointing out that some of Germany's eastern neighbors, including Poland and the Czech Republic, managed to hang on to many more jobs because they kept their currency cheap...
...worry factor that led to the re-election of Benjamin Netanyahu, the leader of the Likud Party, who took over as Prime Minister in March. The vote was begrudging. Netanyahu's first foray in that office, from 1996 to 1999, ended badly. He was lampooned as a brash know-it-all, arrogant and at the mercy of a wife who allegedly pelted the hired help with shoes. But Israelis were willing to forgive the ex-commando because Bibi, as he is known, was tough on security. That he remains, in particular when it comes to Iran. Aluf Benn, diplomatic correspondent...