The Coronavirus crisis has affected the global stage in a way not seen in living memory.
Clearly, the main emphasis is and should be on containing and mitigating the COVID-19 disease itself. But the economic impacts are also significant, and many companies are feeling their way towards understanding, reacting to, and learning lessons from rapidly unfolding events. Unanticipated twists and turns will be revealed with each news cycle, and we will only have a complete picture in retrospect.
Nevertheless, given the very different degrees of preparedness across companies, the further potential for disruption, and the value of being better prepared for future crises, it’s worth trying to extract what we have learned so far:
1) Update intelligence on a daily basis.
2) Beware of hype cycles / news cycles.
3) Don’t assume that information creates informedness.
4) Use experts and forecasts carefully.
5) Constantly reframe your understanding of what’s happening.
6) Beware of bureaucracy getting in your way.
7) Make sure your response is balanced across these seven dimensions:
Business tracking and forecasting
Being part of the broader solution
8) Use resilience principles in developing policies.
9) Prepare now for the next crisis.
10) Intellectual preparation is not enough.
11) Reflect on what you’ve learned.
12) Prepare for a newly changed world.
London, Apr 22, 2020 (Issuewire.com) – Concerns about the long-term impact of COVID-19 on the economy have spurred the launch of a new fund to help UK companies innovate their way through the crisis.
Britain is a world leader in innovation, and Chancellor Rishi Sunak is determined to make sure we don’t surrender that competitive advantage. He commented today:
“Our start-ups and businesses driving research and development are one of our great economic strengths, and will help power our growth out of the coronavirus crisis. This new, world-leading fund will … Read More »
Newquay, Apr 20, 2020 (Issuewire.com) – BODMIN, CORNWALL – WHEN future historians look back to 2020, there may well be a silver lining to the “Coronacrisis” that we’re grappling with – the number of new inventions that went from idea to reality, in a fraction of the usual time that such developments would normally take.
Doing their bit to help the country – and the world – bring these inventions to life is a Cornwall-based outfit called Innovolo. The company was only established in 2018 but the team benefits from decades of … Read More »
BODMIN, Cornwall – A team of entrepreneurs and product development “geeks” are helping UK companies meet the radical challenges posted by COVID-19. Innovolo have a wide range of experience and expertise they can draw on to help businesses adapt and launch new products with extraordinary speed.
Their secret sauce? It’s all about having a system, according to Managing Director Robin Pallister:
“There’s been a massive increase in new product ideas as a result of this global pandemic. But going from idea to reality – a product you can ship out of the door next week – needs a system. Luckily, … Read More »
(YorkPedia Editorial):- Newquay, Apr 7, 2020 (Issuewire.com) – We’ve got some good news for you. Innovolo – a UK-based company that champions innovation – have today launched its online portal where anyone can upload their product ideas for evaluation.
Your idea will be reviewed by a panel of experts that include technical and engineering professionals, chemical engineers, physicians, 3D designers, and more.
“We’ve all been impressed by stories of how people like James Dyson have … Read More »
For the past few months, Jane has been researching innovative technologies in the shipping and transportation industry. She has a dream of adding the latest GPS technology into her trucks. It will help her business operations be smarter and more proactive.
The new systems provide … Read More »
This is a slightly different post to the kind we’d normally share but we wanted to write this today to update you on our stance in relation to the Coronavirus pandemic.
We also wanted to take the opportunity to update you on the steps we are taking to ensure we are protecting the health and safety of our customers and our team members while continuing to deliver successful product development projects on time and on budget.
Here at Innovolo HQ, we have introduced a range of precautionary measures in order to minimise any risk of virus transmission. We’re … Read More »