After major economic shocks – such as the financial crisis of 2008 and the resulting recession — turbulence becomes the “new normal.” For corporate leaders navigating extreme uncertainty, a kind of paralysis can a set in, with a singular focus on slashing costs indiscriminately. Though examining spending during recessions makes sense, forward-thinking executives do more. As Innosight’s Scott Anthony reveals in The Silver Lining, these leaders continue innovating – by stopping ineffective initiatives, changing key business processes, and starting more productive behaviors. Result? Their companies emerge from downturns stronger than ever.
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Read the chapter “Master Smart Strategic Experiments”
Providing a wealth of ideas, tools, and examples from diverse industries, Anthony explains how to safeguard your company’s profitability during even the toughest recessions. You’ll discover how to:
- Prune your innovation and business portfolio to liberate resources for more promising initiatives
- Adopt a radical new market-segmentation scheme that helps you re-feature your offerings to reduce costs while delivering new value to customers
- Reinvent your innovation process to drive fresh growth
- Mitigate innovation risks by conducting strategic experiments and forging alliances with customers and other external entities
- Appeal to increasingly value-conscious customers to fend off low-cost attackers.
In today’s brutal economic climate, executives must pare costs to the bone while planting and nurturing seeds for tomorrow’s growth. The Silver Lining explains how to master this seemingly impossible challenge.