As the dialog around economic recession expands, many companies are rethinking their strategies to ensure that they will remain strong and vital. Bruce Nussbaum offers a very timely piece of advice in the form of a list of 10 key missteps that companies are apt to make in the process. The gist of Bruce’s advice is that shortsighted attempts to improve bottom line results at the expense of innovation and product development will deliver more and deeper harm to the organization that greatly outweigh the short term benefits perceived.
Bruce is right on with this article. Companies must understand that innovation and product are the core drivers of their value propositions. In order to protect and expand revenue in a tough economic climate, it is essential to deliver a strong and well differentiated value proposition.
If you missed the time around, this article points out some suggests for using innovation as a driver of growth in recessionary times.
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