After
commenting that the current situation had created a real financial tsunami across
the world, Bosch went on to say, “Some companies are capable of creating value,
while others are not. Creating economic value is essential if companies want to
survive for a long time, in spite of the crisis”.

In
order to clarify what he meant by “creating value”, Bosch explained that people
create value when they sell something, since both parties understand each other
perfectly: the buyer has all the information and the seller knows the buyer is capable
of understanding it. He explained, “This involves an exercise in empathy. If
this does not occur, then no value is created in the financial transaction, at
least not in the long term, since the client will go elsewhere”.

Thus,
the economist spoke about the need for companies to make a commitment to
society and to develop a sense of co-responsibility. He said, “They must put
themselves in the position of their potential clients, understand what they
need and work together”. He then cited examples of large companies that have
managed to do this successfully: Apple, Inditex and the various mobile
application developers. Bosch went on to say, “These companies create a great
deal of value and have enjoyed spectacular growth rates as a result.
Application developers, for example, come up with new ideas that solve people's
real-life problems and connect with the market”.

Ultimately,
it involves creating a new business model. “Everyone knows that two things are
required to create resources: time and effort. This very simple concept
explains why we're in the position we're in: we wanted to have it all straight
away and this immediacy led to an unhealthy social economic anxiety that has to
change”, the speaker concluded.