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? Let's have a look at a case study of Kellogg's, which took a leap to invest in a new type of cereal - and that paid off even in the face of extreme adversity.
Special understanding is critically needed on how new cyclones of artificial intelligence-laced, blockchain technology-driven digital platforms with capabilities like LinkedIn and baby-Alibaba type models will dance on global trade. Alibaba just broke some records: USD 1 billion sales in 3 minutes, and the other day some 24 billion dollars in 24 hours. This is dancing with global trades and prosperity on world stage. What are these deployment programs and who is stopping such mobilization in other nations?
We are over flooded with massive innovation lacking commercialization; we have qualifications, certifications and degrees but seriously lacking directions; we have incubators and accelerators exhausted like real estate projects…we have make-believe economical development games but the real progress is not there. So what else we need?
I guess everyone knows the tragic story of the EastmanKodak Company: founded in the 19th century, dominating the photographic film market during most of the 20th century and finally collapsing into bankruptcy in the early 21st century, shaken by a new technology they had once decisively initiated.
Innovation is all about survival – how often do we hear versions of that line? But in the field of humanitarian aid this really is the case. Innovation can sometimes be a matter of life and death. It’s a world characterised by crisis – but it’s also somewhere from which we might learn some new lessons to help manage innovation.