Comments on: Innovation in times of recession

By: metasearch

metasearch — Wed, 30 Mar 2011 19:29:11 +0000

I love what you guys are always up too. Such clever work and reporting!

By: | Acneguy

| Acneguy — Tue, 05 Jan 2010 15:50:24 +0000

I think we are also seeing some signs of recovery from the Economic Recession. Of course, we have no idea of how long it will take to completely recover, but some say it’s going to be longer than for the other recessions in decades. I also scanned an article yesterday that said business owners need a new set of tactics to do well during recovery.

By: Cameron

Cameron — Tue, 29 Dec 2009 07:38:43 +0000

Our country had been so much affected by this Economic Recession. there are lots of job cuts and company shutdowns. We are seeing some signs of economic recovery right now and we hope that it would continue.
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By: Jenna

Jenna — Mon, 02 Nov 2009 06:24:19 +0000

the Economic recession made a lot of jobless people in my own country. We could only hope that our economy becomes strong again

By: michael

michael — Sat, 17 Oct 2009 17:00:37 +0000

the economic recession made a lot of workers jobless. my best friend and me lost our jobs because of job cuts. i hope that our economy would recover soon

By: melatonintablets

melatonintablets — Mon, 27 Jul 2009 12:24:19 +0000

the Economic Recession has been pretty hard on us. some of my friends lost their job because of the massive job cuts. i just hope that our economy becomes better in the following years.

By: Fabian Szulanski

Fabian Szulanski — Thu, 30 Apr 2009 18:30:01 +0000

A recent video of innovation during downturn, from MIT Sloan Review
http://www.youtube.com/watch?v=Opwys0zJ6UQ

By: Amir

Amir — Sun, 07 Dec 2008 00:13:54 +0000

Let me offer a mental model of innovation to help identify strategy is recession times.
I would start with some defintions:
1. “Value” would be a ratio of “functionality” over “cost” (V=F/C).
“Functionality” would reflect practical “benefit” - and we can stretch it to encompass aesthetic and emotional benefit.
2. “Cost” would be the sum of resources to produce, maintain and discard goods or services throughout their life cycle, not just the money to purchase them. For example light bulb “cost” includes also the power consumption, the heat emission harming the environment, space it consumes, recycling cost etc. A car’s fuel efficiency would be calculated “from well to wheels”.
3. Now if we agree that the essence of innovation is to increase value, we can see several strategies: Increase numerator while keeping demominator constant (closed world solutions), Increase numerator much while increasing denominator by little etc.
I’ll let you figure how many strategies are there… just play with above formula…
4. The strategy of “keep numerator constant, reduce denominator” is the sought “cost reduction” during recession.
Therefore cost reduction is not “opposite” to innovation, it is inherent ingredient of it. “innovation for cost reduction” should be positioned as an attractive value proposition.