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
RapidBI is an organizational effectiveness consultancy based in the UK but working internationally.
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9 Responses to “Innovation in a recession”
Comment from Heather Townsend
Time August 15, 2009 at 19:04
RT @rapidbi Innovation in a recession
Comment from Ben Shoemate
Time August 15, 2009 at 19:29
Innovation in a recession » Management, Leadership & Business …
Comment from Gary Gorman
Time August 15, 2009 at 19:39
RT@rapidbi Innovation in a recession: Innovation is about more than new products and technologies – it..
Comment from Mary Rose
Time August 15, 2009 at 20:08
RT @247tweet: RT @rapidbi: Innovation in a recession: Innovation is about more than new products and technologies ..
Comment from Marquita Lockhart
Time August 15, 2009 at 21:27
RT @247tweet: RT @rapidbi: Innovation in a recession: Innovation is about more than new products and technologies ..
Comment from MLM LeadershipCourse
Time August 16, 2009 at 00:54
Innovation in a recession » Management, Leadership & Business …
Comment from Rosemina
Time September 8, 2009 at 17:38
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.
Comment from rapidbi
Time October 9, 2009 at 18:04
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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