The document discusses the implications of the Year 2000 (Y2K) issue for individuals and businesses. It describes how Y2K caused increased IT spending as companies worked to become compliant. It also discusses fears around potential problems on January 1, 2000 and recession, as well as opportunities for new businesses, jobs, and career changes. The document provides advice on personal, business, and career preparedness strategies related to Y2K.
27. Y2K and You R. Wayne Hicks, President BDPA Cincinnati Chapter Email: [email_address]
Hinweis der Redaktion
Good Evening. I’m sure all of you here know what the Year 2000 problem is so I’m not going to insult you with definitions and explanations. OK? How many of you are technical professionals (analysts, programmers, network administrators, etc..)? How many are entrepreneurs (independent consultants, business owners)? I am going to talk this evening about how the Y2K phenomenon may affect you - opportunities and challenges.
It has been a myth that the Y2K problem has caused corporations to stop spending on IT other than expenditures for fixing the problem. Most expect to spend more not less over the next two years.
There’s been some market analysis done by Intelliquest, an IT industry research group that indicates the Year 2000 may even be a bonus period for some hardware vendors.
So the Y2K may mean new opportunities for some.
In certain industries, spending is modest or flat. The utilities industry is spending slightly more but not necessarily on Y2K projects. They are willing to spend in bitesize chunks for IT projects that move the enterprise forward.
Some predict that a recession is on the horizon.
Spending on this problem has been huge and once the crises has passed, there could be a downturn in the economy due to spending that has not contributed toward corporate strategies for growth and expansion.
And this recession could global.
Some suggest that some businesses could be brought to a halt, at least temporarily. Others, liken it to the recession of the early seventies that was caused by the so called “oil crisis”.
In light of the opportunities and challenges of the Y2K problem, it is wise to look at this period as a time for preparation. It’s a good excuse to get ready.
Have a plan!
Just in case. Be prepared for trouble and make sure your basic needs for food and shelter are addressed. Check into the readiness of your community in the event of a failure in transportation, communications or public safety.
A few simple reminders...
As citizens, you have the right to expect your civic leaders to be as prepared as possible.
You also need to tend to your own hardware and software and make sure that you can function on a personal level when the year 2000 arrives.
As IT leaders in your community, don’t forget your churches, schools and other support organizations.
And of course, make sure you can get to your money. Or at least, have a backup plan.
For the entrepreneurs, there are many business opportunities remaining. You can help small businesses and non-profits prepare or protect themselves from the potential effects of this crisis.
Some new products and innovations are still being developed and released. This one, highlighted on the Black World Today’s web site, was released just this month.
But for the things you can’t fix or predict, it is wise to have a contingency plan.
In planning for business continuity, you really need to anticipate several things going wrong at the same time.
Another important element of Y2K as a catalyst is the transition that is occurring in the job market, triggered by the frenzy of hiring and job shifting taking place for IT professionals. Businesses may become more selective in their hiring practices after the year 2000 crisis is behind them.
Currently there are several areas where employers are struggling to find people. However, will that continue to be the case. My message to you is whether you are a technician, a business owner, a consultant or whatever, the Y2K problem affects you. Be it a change agent, a temporary business spurt, a launching of a new business or service or a new career - you need to be ready. It’s a good excuse for action.
In closing, I would like to leave you with a few more sites that may provide useful information or just confirm readiness of some entities that you depend on.
And for additional information of professional development opportunities, consider these sites.