Innovation may be the way to avoid a double dip recession


As the world watches markets nervously, Standard and Poor’s has just downgraded America’s rating and Central Banks look like they may need to intervene, we need to give some thought as to how the world needs to change in the future.

There are some structural changes in the global economy and what has worked in the past will not necessarily work in the future.

In 2008, when the global economy wobbled, many companies reacted by taking the costs out of their operations. They downsized and scaled back, very often just battening down the hatches. Now, much leaner, they don’t have the luxury of further cost cutting and they are looking for other alternatives.

Innovation which can be defined as an idea, which realised, brings value to the market, is a way of competing successfully in the fast changing world around us. The impending economic slowdown is just such a change. The companies which emerge successfully on the other side are going to be those which have embraced innovation to find new markets, new products, improved processes and better ways to get the most out of their employees.

With the advent of social media innovation is no longer the prerogative of the ivory tower or the R&D department. It is up to everyone in the organisation to identify opportunities to improve the way the organisation works and to innovate and collaborate at scale.

Those companies which are the most innovative are the best prepared to meet the new world order. We are seeing a lot of large corporates equipping their employees to innovate and it is going to be interesting to see what happens and who comes out first and who is left behind. Either way, we can expect to see big changes in the way companies compete in the future.

About Digital Bridges

Digital Bridges creates high performance organisations by unlocking the business value of the web. We create digital strategies, user requirement and functional specifications for Intranets, websites and web applications. We also develop and implement social media strategies and create powerful digital brands using eMarketing and Communication.

Digital Bridges is technology agnostic and partners with great technology companies in order to ensure that our solutions are fit for purpose and deliver on organisational strategy.

We have partnered with Innocentrix to bring Spigit Innovation software into this country.

Digital Bridges approaches the web from a management consulting position and relies heavily on rigorous academic thinking as well as business experience. It is headed up by Kate Elphick who has a Law degree and an MBA from GIBS. Kate has spent the last fifteen years of her career on the business side of the IT industry with companies such as Datatec, Didata, Business ConneXion and Primedia. Her skills include innovation and growth through marketing, communication, collaboration, knowledge management, human capital, performance management, process engineering and BI.

Digital Bridges has a broad range of experience working with significant, successful clients in the Financial, Gaming, Tourism, Pharmaceutical, ICT, Legal, Airline, Professional Services, Media and Public Sectors.

To find out more about Digital Bridges, please visit www.digitalbridges.co.za or contact Kate Elphick on katee@digitalbridges.co.za.

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Filed under Business, Collaboration, Crowdsourcing, Enterprise 2.0, Innovation

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