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- Report
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Enterprise everywhere
- 08/11/2010
Innovation in a crisis
Creative Commons, Micah Taylor (2010) ©Scope
Britain is currently in the longest recession in its history; banks are unwilling to lend and businesses face a day by day struggle to stay afloat. The story is not all doom and gloom, however - many businesses have seen opportunities to redefine themselves within a tricky marketplace. Instead of relying on large amounts of capital, nimble and reactive companies are using the recession to their advantage. As Stanford economist Paul Romer says; "A crisis is a terrible thing to waste." (1)This report pinpoints large-scale innovations being implemented by global brands in order to stay competitive, and on a smaller scale by niche businesses and individuals. What role is tech playing in the development and survival of these companies?
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