{"id":11571,"date":"2022-08-16T10:13:33","date_gmt":"2022-08-16T15:13:33","guid":{"rendered":"https:\/\/flevy.com\/blog\/?p=11571"},"modified":"2022-08-16T10:13:33","modified_gmt":"2022-08-16T15:13:33","slug":"innovation-during-covid-19","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/innovation-during-covid-19\/","title":{"rendered":"Innovation during COVID-19"},"content":{"rendered":"

\"\"Organizations have reacted to the COVID-19<\/a> pandemic in their own ways.\u00a0 Almost all had to change the way they were operating in order to cope with the challenges thrown up by the crisis.<\/p>\n

Companies have discovered novel means to market, service, and function through the pandemic.\u00a0 Notable Innovation throughout various industries has taken place as a result of the COVID-19 crisis.<\/p>\n

Innovation is always a tumultuous process of hazarding into unfamiliar territory<\/a>.\u00a0 Apparently, the Innovations that businesses have come up with during COVID-19, may seem to be merely reactive responses to an extraordinary circumstance.\u00a0 Some Innovations may be a passing fad\u2014specifically for the pandemic\u2014and others may serve the organizations and their customers even after the pandemic is over.<\/p>\n

Which Innovations will last and which should be abandoned is a decision not to be taken lightly.<\/p>\n

Sustaining the imaginative changes made during unsettled times like COVID-19, in order to generate prospects for organized growth after the crisis, needs careful contemplation.<\/p>\n

Fresh research directs businesses to have improved comprehension regarding how Innovations made during COVID-19 can aid them in emerging stronger than before.<\/p>\n

Research has enabled development of a matrix for the categorization of companies in the way they react to challenges in the pandemic.\u00a0 The matrix also identifies the Innovations that will last after COVID-19 and should be invested in. \u00a0The categories include:<\/p>\n

    \n
  1. Adaptors<\/strong><\/li>\n
  2. Trailblazers<\/strong><\/li>\n
  3. Optimizers<\/strong><\/li>\n
  4. Trendsetters<\/strong><\/li>\n<\/ol>\n

    \"\"<\/a><\/p>\n

    Let us delve a little deeper into the categories.\u00a0<\/strong><\/p>\n

    Adaptor<\/strong><\/h2>\n

    Companies that witnessed short-term variations in demand for products and services that were already being provided by them are put in the Adapter quadrant of the matrix. \u00a0Thriving businesses placed in this quadrant have acquired the ability to offer the same products<\/a> or services but probably with fewer resources.\u00a0 Changes in customer demand for these companies took place before COVID-19 hit.\u00a0 Expected duration of changes for such companies is temporary.<\/p>\n

    Examples of this category include restaurants establishing open-air dining or consumer-goods companies increasing production of disinfectant to meet worldwide demand.<\/p>\n

    Trailblazer<\/strong><\/h2>\n

    Companies that use current resources to resolve fresh problems that had never been handled previously, are placed in this quadrant.\u00a0 For such companies changes in customer demand<\/a> emerged as a result of COVID-19.\u00a0 The changes are expected to be temporary for companies in this quadrant.<\/p>\n

    Therefore, the next step for companies in this quadrant of the matrix should be to discover new problems to solve.<\/a><\/p>\n

    Optimizer<\/strong><\/h2>\n

    Companies placed in this quadrant are the ones which reconfigured their resources to satisfy existing customer demand.\u00a0 Changes in customer demand took place for such companies before COVID-19.\u00a0 The difference from the above 2 categories is that changes for this category are going to be sustained.\u00a0 So such companies should increase efficiency as the next step in their strategy.\u00a0<\/strong><\/p>\n

    Trendsetter<\/strong><\/h2>\n

    Companies placed in the Trendsetter quadrant have responded to the COVID-19 emergency by creating completely new products or services that will keep on being in significant demand even after the pandemic.<\/p>\n

    Interested in learning more about the 2 types of Innovation, the 3-phase approach of choosing which type to use or the 4-category matrix?\u00a0 You\u00a0can download\u00a0an editable PowerPoint on here <\/u>Innovation During COVID-19<\/strong><\/a>\u00a0<\/u>on the\u00a0Flevy documents marketplace<\/a>.<\/p>\n

    Do You Find Value in This Framework?<\/h2>\n

    You can download in-depth presentations on this and hundreds of similar business frameworks from the\u00a0FlevyPro Library<\/a>.\u00a0 FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives.\u00a0 Here\u2019s what some have to say:<\/p>\n

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    \u201cAs a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power.\u00a0 For us, it is an invaluable resource to increase our impact and value.\u201d<\/p>\n

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    \u201cFlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients.\u00a0 In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!\u00a0 The quality of the decks available allows me to punch way above my weight \u2013 it\u2019s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.\u201d<\/p>\n

    \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

    Organizations have reacted to the COVID-19 pandemic in their own ways.\u00a0 Almost all had to change the way they were operating in order to cope with the challenges thrown up by the crisis. Companies have discovered novel means to market, service, and function through the pandemic.\u00a0 Notable Innovation throughout various industries has taken place as… Innovation during COVID-19<\/span><\/a><\/p>\n","protected":false},"author":110,"featured_media":11577,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[81],"tags":[],"class_list":["post-11571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-strategy"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/11571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=11571"}],"version-history":[{"count":7,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/11571\/revisions"}],"predecessor-version":[{"id":11582,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/11571\/revisions\/11582"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/11577"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=11571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=11571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=11571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}