This article first appeared in the UConn Business magazine, Volume 1, Issue 1 (Summer 2009)
Denis J. Nayden ’76, ’77 MBA, was invited as a guest speaker at a special forum on the global economic crisis. Held at the UConn Storrs Campus on Wednesday, February 11th, this informative and provacative discussion drew an audience of over 100 students, faculty and staff.
Nayden began his presentation stating, “We are undeniably, experiencing an extraordinary crisis across global financial markets. How and when we recover remains to be seen. However, one thing is certain – the landscape of business is forever changed. We must look to the experts and our peers to open up the discussion about these important topics so that we can understand what caused this crisis to happen and how we should act going forward.”
He further cautioned, “What we as individuals and corporations helped build in the financial world no Nayden ’76, ’77 MBA offers Wisdom, Insight on the Global Economic Crisis longer exists. Today, everything seems off the charts, leaving us all wondering what actions to take next.”
With the financial climate today less than inviting, Nayden emphasized the importance of keeping a thick skin throughout this difficult time and having a high degree of patience, resilience and dedication. He believes there is tremendous hope in the intellectual capital of the country.
One audience member posed the question on the plausibility of pursuing innovative thinking in the current economic state. Nayden, a strong believer in creativity and change agents, answered that “first we need to get our country back to a level of stability. Eventually innovation, as well as capital, will come back.”
Nayden not only addressed the current economic situation and what it means to the world of business and the individual, but he also made a point to emphasize the importance of philanthropy in difficult times. With food banks experiencing tremendous growth in 2008, the generosity of the nation as a whole is undeniable. “It is our responsibility to acknowledge that what we have is a gift. There will always be somebody behind us who needs our help educationally, physically, or in other ways. Even in this economy, we shouldn’t forget that,” Nayden said.
In the spirit of action, Nayden challenged the audience to take something they care about and pursue it. In this way, we will eventually fix the problem and hopefully learn from it. Dean Earley of the School of Business noted, “Nayden is a passionate person with invaluable insight and experience. Everybody in the UConn community who heard him speak was able to bring something back and apply it to their experience.”
