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How to Keep Innovating During an Economic Crisis

Innov8rs

Review your company's innovation practices, reassess your approach, and build capacity for the future. Don't stop innovating: Companies that continued innovating during the 2008 crisis grew 30% more than those that cut their innovation investments. For example, you could set a standard for brainstorming.

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Innovate, Adapt, Overcome: How to Beat a Recession with Idea Management & Continuous Improvement

Qmarkets

job losses skyrocketed during the peak recession years 2008-2010 Given the devastating impact of the 2007-08 financial crisis, it’s little wonder that companies worldwide are sensitive to omens of a new “great recession”. During the 2008 financial meltdown, the coffee shop giant launched its “My Starbucks Idea” platform.

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“Embrace Open Innovation or be Destroyed by it…” – A Case Study on Lego & Bagels

Qmarkets

Lego, the Danish producer of construction toys, is an organisation that is well aware of the value of Open Innovation. In the 1990s the company came close to bankruptcy due to the rise of digital entertainment such as video games; they needed to find new ways of exciting their customers. Lego – Bankruptcy. Bagels – Innovo Damnosa.

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“Embrace Open Innovation or be Destroyed by it…” – A Case Study on Lego & Bagels

Qmarkets

Lego, the Danish producer of construction toys, is an organisation that is well aware of the value of Open Innovation. In the 1990s the company came close to bankruptcy due to the rise of digital entertainment such as video games; they needed to find new ways of exciting their customers. Lego – Bankruptcy. Bagels – Innovo Damnosa.

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What is innovation management and why your organization needs it

hackerearth

Either way, businesses need to identify where they are going wrong because innovation as a business strategy is here to stay. For survival, innovation is almost obligatory (Drucker, 1999). An innovation process “connects upstream idea valuation to downstream production and release to market.” Reduces processing time.

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What is innovation management and why your organization needs it

hackerearth

Either way, businesses need to identify where they are going wrong because innovation as a business strategy is here to stay. For survival, innovation is almost obligatory (Drucker, 1999). An innovation process “connects upstream idea valuation to downstream production and release to market.” Reduces processing time.

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Take Smarter Risks through Discovery Driven Planning

KindlingApp

This can, at times, conflict with a true innovation process because of the preponderance of unknown factors inherently involved when one innovates. In 1995, the Harvard Business Review published an article on Discovery Driven Planning (DDP). DDP vs. Stage-Gate.