People often equate downturn with slowdown, but for many trends, a downturn can be anything but a slowdown. In particular, industry structures change more during recessionary periods than in periods of prosperity and growth. One only need look at that fateful week last September when the entire investment banking industry upended to see an example of just how fast an industry can shift shape. Similarly, the speed with which GM passed through bankruptcy shows just how quickly an old stalwart can fall--and be reborn in entirely new form.
Harvard Business Review (July - August 2009)
http://blogs.harvardbusiness.org/hbr/hbr-now/2009/07/trend-to-watch-industries-taki.html
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