Mark Polson recently contributed “Three Steps to Preparing for an Economic Downturn” to the Innovation Leader series, How Innovators Can Prepare for Tough Times.
Innovation Leader is a fast-growing publishing and events company whose mission is helping innovation professionals strengthen their programs; connect with useful resources; and engage with peers around the globe. This article series features advice from leaders who have guided corporate innovation teams through difficult stretches and have lived to tell the tale.
In his article, Polson points out innovation teams usually don’t have a big budget, so the impact on the group is greater than on other business units. Further, if the team does not yet have demonstrable results, they risk getting disbanded.
Mark shares a map enabling innovators to navigate this challenging terrain.
Critical insight: laser-focus and align your team’s strategic goals with the organization’s strategy. Provide some kind of near-term return while you keep in mind longer-term strategic goals.
Read the rest of Mark’s insights on preparing innovation teams for a downturn.