Season’s Greetings
You know you’ve made it when you become an acronym. So it has been with the GFC (Global Financial Crisis). It’s hard to recall a time when the economic storm clouds have rolled in quite so quickly. No wonder everyone is feeling jittery.
What does this mean for business innovation?
Well, the research strongly supports the position that those who stay the course with their innovation programs in times of downturn inevitably prosper as the economy turns the corner. In fact, it’s an ideal time to innovate as prosperity sees companies fully occupied with keeping up with the demands of customers, leaving little time to pursue product and process initiatives.
This is all well and good but we all know that there is always a huge drive to cut costs in times such as these. Innovation budgets are often first up against the wall. So the call now is for innovation champions to take up the cudgels and argue their cases for support more vigorously than ever.
And it’s a similar call that needs to be put to the Federal Government.
We have already seen the Government’s White Paper response to the Cutler Report (Venturous Australia) delayed until early 2009. Government must fight the urge to further delay the consideration of the reforms proposed in Cutler and in the subsequent responses provided by stakeholders. The whispers we hear of the ultimate reforms being delayed until 2010 must not be allowed to gain in volume.
The New Year will see MJA campaign vigorously on these matters.
We will do our utmost to keep the review process to timetable. We look forward to sharing our thoughts with you and receiving your counsel on the best way forward.
In the meantime, we hope that the holiday break gives you some brief respite from the economic collywobbles. We wish you and your family all the best for Christmas and the New Year from all of us here at MJA.
See you in 2009!
