Friday, March 28, 2003

Business 2.0 - Magazine Article - Why It's Time to Take a Risk Well it doesn't come much clearer than this. Echoing thoughts that Imaginatik Research has long been preaching Business 2.0 are right on the money with this article - which looks at why the need for Innovation is stronger now than ever before.

Companies have used the recession as an excuse to cut back to the bare bones - commonly known as "retrenchment" - the act of cutting "corporate fat", increasing efficiency, and generally becoming as lean and mean as possible. However, retrenchment isn't a competitive method - it doesn't give you you a competitive advantage - unless, as Business 2.0 points out - "you're taking costs out a lot faster than your competitors are and doing so in ways that don't imperil long-term success. In other words, retrenchment can buy you time, but it can't buy you a future."

What will however, is the courage and strength to try new things, to go beyond your company's and market's current capabilities, to create new customer needs and demands, in other words - to innovate.

And there really is no better time to do so either - with labour and materials all going at fire-sale prices nowadays. It really is a case nowadays of "He who dares wins". A fun and well written article with some good examples stuck in there - very worthwhile the time to read this.

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