Innovation is reshaping the Covid-19 crisis as the Covid-19 crisis is reshaping innovation. The usual resistance to innovation efforts is gone. We need it. We need it fast.
Typical reactions to an economic crisis are: efforts to preserve cash, reduce costs, and search for new revenue sources. We commonly see layoffs, hiring freezes, and cuts in any expenses seen as non-crucial such as travel, conferences, and training. Traditionally, particularly in travel companies, the innovation department falls into the non-crucial category.
- By Rom and Flavia Hendler
- April 7, 2020