Recession, Survival and Innovation
MARCH 27, 2020
In times of severe recession should you cut costs and focus on survival or take the opportunity to invest in innovation so that you can benefit from the eventual recovery? Well the short answer is that you have to survive first. If the cash dries up and you cannot pay the rent then a pipeline of great innovative products and services is of little help. So it is natural that companies hunker down, cut costs and focus on getting through the recession with the business still intact.