From the ashes of recession-innovation can rise

Posted on: July 27, 2009

Does an economic downturn stimulate or suffocate innovation?

Like the Phoenix can innovation rise from the flames of recession?

Like the Phoenix can innovation rise from the flames of recession?

Necessity may be the mother of invention. But could a recession be the mother of innovation? After all, many of the world’s enduring, multibillion-dollar corporations, from Disney to Microsoft were founded during economic downturns.

writes Reena Jana over at Business Week in the introduction to their report on innovation in a recession.

It is a difficult time for innovators with longer term goals finding themselves sacrificed under pressure to cut investment as a quick fix for solving plummeting revenues but as Branson Powers writes on their blog

Fear pushes companies to try new ideas and new approaches.

But they add that this has to be balanced by the fact that

fear can cripple innovation.Different people react differently to an environment that challenges their existence, and many will deny a new reality, resist change, and sometimes become paralyzed.

Like the mythological Phoenix,the lesson is that recession provides opportunities to innovate and rise from the dead


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