Innovation In A Tough Economy

Technology has the potential to be transformative. But technology that doesn’t serve the business simply doesn’t add value, regardless of how advanced or cutting-edge it is. That’s why Citrix spends its IT budget and directs its R&D toward innovations that support the strategic goals of business-for itself and for its customers.

In times of uncertainty, the natural reaction for many companies is to say, ‘We’re going to minimize our expenses, we’re going to huddle down and we’ll try and get through whatever this period may be’. However, a time of economic recession is also an opportune time to invest in innovation. Companies that have the mettle to survive realize that.

As you  map out your own initiatives and develop new ways to satisfy your customers, innovating and cost-cutting are not mutually exclusive. Internally, you can be doing both by changing your approach to IT. Initiatives such as self-service programs and an online collaboration tool have helped IT move from purely supporting the company to driving innovation. These changes make a significant impact on a small-sized companies.

As part of the shift to becoming a more strategic and relevant component of the company, IT organizations must move from owning and controlling every aspect of technology to a model that provides services to the business users they support. You as a business owner definitely need to hunker down right now and look at how you can be more efficient with what you have because if you do not keep your eyes open for where trends are going and prepare for that, you and your company won’t be ready to ride that next technology wave.

Innovation isn’t a project, it’s a state of mind, a recognition that—to paraphrase Einstein—the problems we have today can’t be solved at the same level of thinking with which we created them. Remember, it’s not about technology for technology’s sake because technology without application to the business or ROI (Return On Investment) is just wasting oney.

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