Innovating for the post-crisis rebound
Schumpeter defines innovation as a process of creative destruction. The point is not merely that innovation can still happen in times of crisis; it is that crisis are the best time for era-defining innovations to emerge. In yesterday’s session of the Mardis de l’Innovation cycle (in French), Marc Gigethighlighted a few powerful examples of companies, which emerged or re-emerged stronger out of the Great Depression of the 30s with winning products, such as GE and its refrigerators and washing machines, Converse and its emblematic (and ugly) shoes, or the entire machine-tool sector. As it turned out, the Great Depression became one of the most innovative periods in American history.
Today, some post-crisis winners are already emerging, though others may still be in the making. Examples include:
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