Apocalyptic newspaper headlines cause panic. Panic induces paralysis. The media is overloading us with evermore information and commentaries about “the situation”: poorer quality of life, higher unemployment, pay cuts, zero real growth, etc. Most companies in the market usually react alike. Companies start operating on ‘automatic pilot,’ or, in the worst-case scenario, they act on impulse, adopting clichés which are not necessarily rational, like laying off workers, cutting wages, putting trainings on halt and such.
Inventive thought and innovation are usually seen as a prerogative reserved for markets in times of growth, while, in fact, during slowdowns and recessions, there are plenty of good reasons to be creative, to invest in innovation, develop innovative strategies and even launch new products.
