New ideas, transformative innovations, and bold thinking don’t die with recessionary times – in fact, a downturn is often the starting point for big ideas. Companies such as Burger King, Microsoft, CNN, and FedEx all started up during recessions.
Given the new economic volatility, shrieking stock market headlines, and the reappearance of a sense of dread in the corporate world, it’s probably a good time to rethink your focus. Are you stuck in doom-and-gloom, watching the market and economic volatility? Or are you thinking about economic growth and opportunity? The Wharton School of the University of Pennsylvania released a provocative article in November 2008 suggesting a recession is a perfect time for disruptive innovation — that is, rewriting an industry’s business model to achieve significant growth. Think of Steve Jobs and the iPod, which he first released during a less-than-rosy economy in 2001.