McKinsey beat me to it! I just wrote a blog for Soapbox about innovation in Cincinnati that will hit your inbox some Tuesday in January. Interestingly enough, the big brains at McKinsey wrote an article that used a similar metric to track innovation, patent applications.
Harvard's Tom Nicholas did an analysis on innovation in downturns, using patent applications in the 1930s as an example. Unfortunately, during the Great Depression, patent applications slowed significantly as investment in R&D was reduced and people took fewer risks.
Harvard's Tom Nicholas did an analysis on innovation in downturns, using patent applications in the 1930s as an example. Unfortunately, during the Great Depression, patent applications slowed significantly as investment in R&D was reduced and people took fewer risks.
If necessity is the mother of invention, now is the time to invent!
To read Tom's full article on Innovation Lessons from the 1930s, visit McKinsey at: http://www.mckinseyquarterly.com/Strategy/Innovation/Innovation_lessons_from_the_1930s_2266
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