The Orange Chair

Bruce Nussbaum at businessweek.com has a list of 10 Worst Innovation Mistakes to make whenever you get near or in a recession.

This is relevant to Web 2.0 and emerging technologies because these will be the ways companies innovate in 2008.

So what don’t you do? according to Nussbaum, you should not:

1) Fire talent. Because of America’s accounting laws, investments in talent are expensed, not capitalized, so cutting back on people, especially really smart, high-priced people, is a quick
way to cut costs. The accounting rules only hurt companies who follow them. Talent is the single most important variable in innovation.

2) Cut back on technology. Xerox and others report that companies are already curbing investments in technology to save money. Banks especially. The rise of social networking and consumer power means that companies have to be part of a larger conversation with their customers. This means big money spent on IT.

3) Reduce Risk. Innovation requires taking chances and dealing with failure. Recessions push managers to be more conservative. They need to fight this instinct.

4) Stop New Product Development. Saving money often means cutting back on new products and services during an economic downturn. This hurts companies when growth returns and they have fewer offerings in the marketplace to attract consumers.

The entire article is worth reading and considering. See NussbaumOnDesign 10 Worst Innovation Mistakes In A Recession. - BusinessWeek

For people who wonder, “why blog?”, the people at lifehack.org have listed
a number of strong reasons why you should in their article, How To Use Your Blog To Make 2008 Your Best Year Ever!

The article is written from a viewpoint of how to use a blog to improveyourself, and the bonuses they list regarding blogging (e.g. trackprogress, get feedback, share knowledge) apply to anyone, either personally or professionally.