My mantra about innovation is that it is always about three questions: how do you run the business better, grow the business, and transform the business. Address those three issues, and you’ve nailed the essence of innovation.
Since the economic downturn, most of my global clients have been focused on the first issue: how can we run the business better? They’ve been razor-arrow sharp on achieving operational excellence, managing costs, downsizing, and other critical steps necessary to survival.
Now that’s changed.
In the last few months, I’ve had a significant number of bookings — often by senior VP or CEO level execs within Fortune 1000 organizations — for keynotes at leadership meetings that have the purpose of examining how to grow the business and transform the business.
In other words, folks, GROWTH IS BACK. I think the mindset of the global Fortune 1000 is shifting quickly to strategies that are aimed at transitioning products and markets; generating revenue where revenue hasn’t existed before; growth through acquisition; and countless other innovation strategies aimed at growth. And they’re thinking as to what they need to do this; how do they realign their skills base to deal with rapid change ; how do they more rapidly share ideas on fast emerging opportunities; how do they partner up in order to move faster?
This is the fifth recession I’ve gone through in my professional career. I’ve seen these signs before.
Growth is definitely back in business.