Creativity and Innovation in an economic downturn?
So much were written about innovation -- about turning creativity into action.
And then everything changed.
The world changed.
Job security is no more.
Consumers are tightening their belts.
What about 'innovation'?
What about 'new products'?
Is there currently a place for innovation?
Surely their is no money to gamble away on creative 'things'?
Perhaps it is time to make sure that your creative ideas are not percieved by consumers or clients as 'crazy' ideas. It is easy to talk about innovation -- everybody does it. It is such a great buzz word. Unfortunately, only a few professionals actually succeed in turning words into profit. Only a few companies succeed where others have failed.
Why do they succeed?
They understand that 'innovation' is not just 'talk' -- it is hard, disciplined work. It is a process and procedures, despite the free thinking creativitity that is such an important part of innovation. They make the consumer part of the development process. They invest in innovative activities and actions. They teach their employees to be creative -- no matter what the economic situation. They make it a way of life in their companies. They know that economic woes are part of the ebb and flow in business -- and they plan for it, work with it and turn it to their advantage.
In FMCG, understanding consumer wants and -desires are extremely important -- especially now in an economic downturn. It is discouraging to read that many companies are cutting back on innovation -- or is it? The companies of tomorrow will analyze the new playing field created by the economic downturn and find new, profitable avenues for new products. Companies that look to the future cannot afford to slow down innovation in such conditions -- at least not if they want to be first in the market with the products consumers can afford in this economic climate. Perhaps that will differentiate today's companies from tommorrow's success stories?
Who knows......
CMB
