How can we expect that the (coronavirus) crisis will affect innovation output?
What can we learn from the 2008 financial crisis when it comes to innovation?
We are in the middle of the coronavirus (Covid-19) outbreak and an economic crisis. Companies and governments around the world are struggling to cope with the new situation and the isolation economy. Despite the high uncertainty, we analyzed the situation and perspectives on innovation.
In this report we look at:
- How has Covid-19 virus impacted industries
- How did the 2008 financial crisis affect innovation?
- How will the Covid-19 crisis affect innovation
- How to innovate now
The health systems all over the world are at a stake because of the coronavirus outbreak. In addition to the challenges faced by the health system, people’s health and loss of life, economies around the globe are severely threatened as well. Many say that adverse circumstances create opportunities and innovation. And that is true. We know that many innovations are a result of challenges and difficult times.
The question here is, however, are these innovations strong enough to compensate for the recession effects?
Do companies’ innovation strategies change as a result of a crisis, and which factors may be influencing these responses? In order to find answers, we have investigated some findings based on the financial crisis of 2008.
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