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