Keeping a business afloat in the present economic crisis is a bigger issue than new product development and innovation projects. Relieving dramatic cash-flow losses and the loss of key staff due to cost cutting initiatives can cause a crisis-management situation for businesses and business units.
How can the long range innovation goals of companies be met in such times? For some organizations plans are being shelved or put on hold indefinitely. For others, the resources dedicated to such projects have to be reduced or redirected.
For those organizations that do survive the short term, keeping an underlying focus on innovation will be a huge difference maker as situations improve. For the short term, projecting realistic, achievable and understandable short-term goals is needed. Above all these short-term goals need to be clear and simple. Achieving these goals, falling under the larger, high-level goals will get many organizations through the crisis period, and continue, or create a foundation for success as time goes on.
The innovators eyes must be kept on the long term, however the short term goals must be kept track of.
