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Innovate for Renewed Prosperity

"Nearly 100% of innovation – from business to politics – is inspired not by "market analysis" but by people who are supremely peeved by the way things are." – Tom Peters

Given how Irish business feels about the current downturn there should be a lot of innovation going on just now but according to the Irish Management Institute (IMI) fewer than 20% of Irish firms are prepared for the innovation required to cope with the downturn.

Professor John Bessant, who runs the IMI BizLab on Innovation, said: ”For an organisation to survive in the short-term to and succeed in the long-term, it needs to be good at a number of different forms of innovation, from incremental through to radical innovation.” He goes on to say that their research “indicates Irish firms must do more to adapt.”

Dr. Jonathan Westrup the Faculty Director of the IMI BizLab on Innovation says on the IMI website: “Discontinuous innovation isn’t about the everyday, but about the occasional, and because it doesn’t happen all the time it poses a particular challenge, see it coming too late, or not at all, and a firm may end up out of business. History is clear on the matter; established firms prosper under steady state conditions but suffer when the rules of the game change.”

Put simply those that change will prosper and those that don’t will fail.

HGB Associates passionately believes that those firms that use the downturn as an opportunity to make a ground breaking mind shift will survive the recession and will be poised for growth and prosperity when the upturn arrives.

While managers will inevitably focus on short term urgent issues such as cutting overhead and staff morale the fittest will also turn their eye to the future.

The term innovation means new ways of doing things. It may refer to incremental, radical, and even revolutionary changes in thinking, products, processes, or organizations.

While companies are trimming their budgets across the board, the medium term winners will emerge from those that continue to invest in innovation.

HGB Associates delivers a "more for less" innovation programme which uses recognised methods and produces substantial benefits for client companies.

For further information call HGB Associates now on +353 1 443 3135 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it