Why an Economic Crisis Could Be the Right Time for Companies to Engage in 'Dis... - The Diigo Meta page

• 07 Jan 09
  

  Gerhard Kaefer

  Why an Economic Crisis Could Be the Right Time for Companies to Engage in 'Disruptive Innovation' by Knowledge@Wharton, the online business journal of the Wharton School. Knowledge@Wharton covers research in Finance, Strategic Management, Marketing, Leadership, Business Ethics and 9 other knowledge research categories.

  open_innovation

• 07 Dec 08
  

  Eapen thomas

  Banking Innovation

• 22 Nov 08
  

  Thomas Chapin

  While "disruptive innovation" has enjoyed office buzz-phrase
  status for only about a decade, the idea is quite old: Austrian economist Joseph Schumpeter had it in mind when he borrowed the phrase "creative destruction" to describe his theories of how entrepreneurs sustain the capitalist system.

  disruptive innovation

• 21 Nov 08
  

  Chris Hart
  • Why an Economic Crisis Could Be the Right Time for Companies to Engage in 'Disruptive Innovation'
• 

  Maximillian Kaizen

  economics politics globalization innovation

• 18 Nov 08
  

  Maggie Brenneke
  • "Recent research suggests the stock market is not good at valuing intangibles, uncertain innovation or technological change," Benner says. "What this means for large, publicly traded firms is that they may face a disadvantage in engaging in radical innovation, and this innovation may instead take place in venture capital-funded startups."
• 17 Nov 08
  

  Paul Gillin

  This article from the Wharton Business School makes the case for continuing to innovate in bad economic times. Sure, you need to cut costs and keep the business stable, but investing in innovation helps companies rocket out of bad times when the economy turns around. Keep teams small and foster an entrepreneurial culture. You might even be better off investing in startups than trying to innovate internally. Look for markets adjacent to yours that are untapped. Take a shotgun approach by investing in a lot of small projects.

  innovations

  • "Loss of revenue and profit will at first instill a cost cutting mentality, which is not good for innovation. But if the patient is bleeding you need to stop that first. Then, however, a phase starts where leaders ask which parts of their business model are weak (and perhaps unsustainable) and that, in turn, can lead to restructuring and reinvention."
  • "The largest gains in business come from more daring innovations that challenge the paradigm and the organization,"
  • 2 more annotations...
  • • companies are smart to develop an array of possible situations and contingencies, rather than pin all their hopes on one plan
    • The archetype of that model is Waltham, Mass.-based InnoCentive. It matches corporate "seekers" who have science, engineering and business problems with amateur "solvers" worldwide. The "solvers" then compete -- for bragging rights and often token rewards -- to provide the best answers to the corporate problems.
• 

  Patrin W

  disruptiveinnovation

  • The conventional wisdom might suggest that business, government and academia will be less willing to embrace the risk-taking and short-term costs that come with the territory of innovating.
  • for some companies, the economic crisis can actually provide an innovation platform. "The crisis has multiple impacts," Schoemaker says. "Loss of revenue and profit will at first instill a cost cutting mentality, which is not good for innovation. But if the patient is bleeding you need to stop that first. Then, however, a phase starts where leaders ask which parts of their business model are weak (and perhaps unsustainable) and that, in turn, can lead to restructuring and reinvention."
• 16 Nov 08
  

  Mireille J

  knowledge@wharton innovation crisis

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