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Episode 42 - Innovation through a crisis
WELCOME TO BLACK BELT LEADER!
On the show today we will be chatting about innovation through crisis. In response to the coronavirus pandemic, businesses are being forced to innovate. Around the world, beermakers and distilleries have shifted production to hand sanitizers.
In Italy, a start-up engineering company began quickly using 3D printers to create the valves used in ventilators. Those just-in-time valves are saving lives. When we look back on the current health crisis, there’s no doubt that we’ll learn that it resulted in a number of innovations: new drugs and medical devices, improved healthcare processes, manufacturing and supply chain breakthroughs, novel collaboration techniques.
There’s no doubt recessions are bad for business, although it’s not all bad news as some of the biggest companies in the world have been born during the Great Depression or the GFC, for example Disney, Microsoft, Burger King and Apple. Innovation also drives productivity during and beyond a pandemic. Thanks to past innovation, we can all work from home and stay connected during tough times.
Black Belt Leader is live on Ticker every Tuesday at 11.30am.