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