Innovation in a recession

How do you innovate when budgets are cut, prices of high tech are increasing and you have less people to do more with?

Innovation in a recession

Innovation is about more than new products and technologies – its about ideas – and ideas from your brain and the brains of your people and networks can be free – all you need to do is give permission to be creative harness the ideas that result – some you can use – most you wont be able to… yet.

In her book The Innovation Equation, Jacqueline Byrd looks beyond invention and looks at innovation as a behaviour – something that can add value in all parts of a company – no matter how big or small.

Byrd defines an innovative organisation as one which;

  • Encourages its members to operate independently
  • Rewards people for being inner-directed and developing their own ideas
  • Values the uniqueness and talents of every contributor
  • Demonstrates resilience when confronted with setbacks
  • Knows how to thrive in ambiguous circumstances
  • Fosters an environment in which individuals are values and rewarded for being authentic
  • Exhibits self-accepting behaviours “we’re good”

No matter how big or small – no matter how cash rich or poor you are, you can innovate in a recession – indeed it may be the only sustainable competitive advantage you have.

For more information on Byrd’s approach to Innovation through the Creatrix


Management and Leadership development are importent to you and of course to the team here at RapidBI. We hope you find this information valuable, if you do please tweet or facebook like this page. Thanks

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About Mike Morrison

Mike Morrison is a consultant and change agent specialising in developing skills in senior people to increase organizational performance.
Mike is also founder & director of RapidBI, an organizational effectiveness consultancy.

Comments

  1. Innovation in a recession

  2. Heather Townsend says:

    RT @rapidbi Innovation in a recession

  3. Innovation in a recession » Management, Leadership & Business …

  4. RT@rapidbi Innovation in a recession: Innovation is about more than new products and technologies – it..

  5. RT @247tweet: RT @rapidbi: Innovation in a recession: Innovation is about more than new products and technologies ..

  6. RT @247tweet: RT @rapidbi: Innovation in a recession: Innovation is about more than new products and technologies ..

  7. Innovation in a recession » Management, Leadership & Business …

  8. I agree that innovation involves a lot more than just new products and this becomes so important during a financial crisis. I recently came across a new book called Exploiting Chaos – 150 Ways to Spark Innovation During Times of Change by Jeremy Gutsche. There is actually a free preview available at http://www.exploitingchaos.com.

  9. Hi Rosemina
    the book is fine for the process of innovation, but does not fully address the pre-requisite – culture. The organization must both want and enable a culture of risk taking and change – this in my experience is harder to deliver on, and where the article is focused

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