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Tuesday, November 25, 2008

Recession: An opportunity for Innovative Companies

Recently read an article from Guardian titled:  Bright Ideas for darkdays.

The article lists some innovative strategies being used of companies in this hour of recession & mentions that through Innovation companies can turn these times of despair into opportunity. 

here is a snapshot of article

for full article check

Main points mentioned 
- Companies investing during recession & having faith gain strategic advantage.                                 eg: Apple & Google are given. 

-Companies need to innovate rapidly as consumer trends in sluggish economy change fast. (was not able to think of an example....incase you know please let me know any example of how they change fast)

- Consumers become more Value conscious & new business models start emerging. eg: of Silverjet & Travelodge are given

- Companies with resources view recession as buyer's market & acquire more resources. EG: of Tesco buying Tesco Personal Finance from Royal Bank of Scotland is given.

So as they say FEAR stands for False Evidence Appearing Real.
Dont have fear & innovate with confidence.


Article Source : Guardian, 
Pics Source: Travelodge & Tesco Finance & Insurance