Innovation in time of a crisis

Innovation in time of a crisis

The intense innovation activity ignited by the global pandemic has created new opportunities that organic growth leaders are best able to capture.

Companies are moving faster and taking bigger risks than could have been imagined a few months ago.

The digital transformation of industries did not pause for the crisis.

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It’s Time to Rethink How You Innovate - Knowledge@Wharton

knowledge.wharton.upenn.edu

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These part growth leaders from laggards and average performers:

  1. Investing in innovation talent. The leadership team signals its commitment to innovation with high-profile investments of resources and time.
  2. Adopting an outside-in approach to innovation that starts by scouring widely for trends and searching for deep insights into customers’ emerging needs.
  3. Encouraging prudent risk-taking. Innovative organizations foster a tolerance for risk-taking by endorsing fast-to-fail experiments and learning from their innovation disappointments.

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