Legal Research

Innovating In Tough Economic Times

Sometimes the first things to go in bad economic times are just the innovative projects that will allow your organization to survive and thrive. I hear that I have been through 14 recessions since I graduated from library school and I've seen a lot of short term tactical thinking every time that deepened the institutional mess. I was glad to see this report offered for free and recommended on a number of the innovation blogs I read.

"Chuck Frey of InnovationTools.com and Renee Hopkins Callahan of Innosight have developed the "MUST-READ" innovation management report for 2008."

The report is called "Innovation Strategies for the Global Recession".

It a collection of ideas, thoughts, strategies, recommendations and hopes from today's top innovation management thinkers about how to not only keep your innovation projects alive during this global recession but to also leverage innovation management to claim a market advantage.

Click to get a FREE copy of this report at InnovationTools

Overall Themes

Start scenario planning now.
Redouble your focus on customer needs.
Strengthen the positioning of your products and services using marketing innovation.
Prune your innovation portfolio.
Look for opportunities to inexpensively test new ideas.
Embrace open-source innovation.
Look for creative ways to extend your current products.
Take a fresh look at your supplier relationships.
Conduct a disruptive threat assessment. You
Don?t just think about innovation in terms of products, services, and business models.

It's only four pages and it's quite 'for-profit' driven but you can interpret for your context.

Stephen

Full post as published by Stephen's Lighthouse on December 19, 2008 (boomark / email).