Back in January, Bruce Nussbaum of Business Week published a really great list on his blog of the "10 Worst Innovation Mistakes in a Recession." You may be thinking that this is old news, right? Nope. In fact, it would be very worthwhile to go back and review the list to see how your organization is faring. I am doing this today, now, even as the economy slowly gains momentum with The Great Comeback.
Have you or your company committed any of these glaring mistakes, and if so, how can they now be addressed? It's critical not to stifle innovation during a recession, as Nussbaum correctly notes, and the same applies in the economic recovery phase. It's also very important to avoid that bunker mentality of hunkering down and waiting for the storm to blow over -- no one ever gained a competitive edge by reacting in this way. He calls this "retreating into walled castles" and nails it when he says "...one of the key ways of introducing change into business culture is to bring in outside innovation and design."
And six more months from now, it would not be a bad idea to review the list again. Your organization will only be stronger for it!
Jim