I found this article on Business Week that basically talks about the importance of investing in innovation in time of crisis. The reasoning is that innovation helps developing the capabilities that will be required in the future (when the crisis ends) reducing the need to catch up. The article mentions some examples of different countries, and how innovation can be seen as an strategic national asset and should be supported by government too.
You can find the article here: http://www.businessweek.com/innovate/content/oct2008/id20081027_851140.htm?chan=innovation_innovation+%2B+design_innovation+strategy
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Good post.. It is tempting to pull back and rectify the current situation instead of thinking about creating the capabilities and the building blocks for the future. Since future is not a linear extrapolation of the past, innovation becomes necessary and critical for differentiation.
ReplyDeleteSomewhat related to this, I was reading this article yesterday in Fortune.
ReplyDeletehttp://money.cnn.com/2009/02/02/technology/hempel_supertech.fortune/index.htm
The author claims that technology won't come to the rescue this time. I believe the author is blind and the fact that he doesn't see a clear "winner" now doesn't mean that innovation is not taken place behind the scenes.
To tie this back to the original post, bad times are good for innovation and it might take a while for something to come out but my personal opinion is that it will.