It seems counter-intuitive to be more innovative when the economy shows signs of trouble. Yet, over half of the 2008 Inc. 500 companies had one thing in common. They all started in the few months following 9/11. People decided to forget about the uncertainty that the events of that day caused and go start something. Creative people forget about the uncertainty and focus on innovation. When the macro environment changes radically, as it is today, it’s easy to get gripped with fear and focus on efficiency. But, efficiency is for accountants and not for leaders and innovators.
The worst thing to do is to get locked up by fear and go into hibernation. If you pull in your horns waiting for things to get better they won’t. They’re going to get better but only for those companies who can but fear out of their mind and move forward aggressively.
Disruptive times create opportunities for companies. In the 1970’s both Microsoft and Apple were founded in the middle of an economically turbulent time. Likewise, Palm transformed an entire industry by shifting from being a software company to a hardware company. They invented a whole new industry in the middle of a recession.
Actually LO,I challenge but makes the quite reosnaable point that so far those innovations have not been as tranformational for the average person as earlier innovations The internet and blogging have had a profound effect on peoples lives. Not so much their standard of living, but on their method of living. And this is a very essential adaptation of escalating populations and in the face of resource depletion. rather than blasting around in a boat car or bike chewing through fuel, more people spend time on social networks using virtually no energy or other rfesources. This is pivotal for civilisations survival in the coming Climate Changed world. Not that Broad Band was created for that purpose, it is simply a timely developemnt. As for Productivity Growth, that is a huge subject all on its own. I wonder if Coen has taken in the concept of non commercial productivity. Things that people do for their own personal satisfaction, still productive and on top of income earning activities. Intelectual creativity activities very much fit into this are, and the mass of software that extend the use of computers way beyond the primary commercial reference frame.It would seem to me that Cowen's greatest achievement (having not read his work) is to promote awareness and a catalyst for creative intercourse.
Posted by: Andrea | October 25, 2012 at 11:03 PM