Cutting back on innovation

A new research study* shows rather shockingly that a quarter of British businesses have reduced their commitment to innovation in the current economic climate. And more intend to do the same in the coming year.

Do they imagine that battening down the hatches will help them to emerge from the current double-dip recession stronger?

It’s always been my experience that recession is a great time to outperform timid competitors with new creative ideas that have the potential to change the game. 

*Allianz Insurance, 500 CEOs in Britain, 2012