Even as the United States faces the worst economic crisis since the Great Depression, businesses are spending more money on innovation, according to a recent Wall Street Journal report. Keith Sawyer, Ph.D., assistant professor of education and psychology in Arts & Sciences and one of the country’s leading experts on the science of creativity, says that investing in innovation is one of the best ways to beat the recession.
“My research shows the critical role that collaboration plays in innovation so I’m excited to see that almost half of respondents to the Innovation Climate Survey are looking to collaboration as their innovation strategy. Innovation is the path to organic top-line growth, and the downturn presents opportunities for those companies that innovate successfully. These recent survey results bode well for the future of U.S. companies,” said Sawyer in his latest blog entry.
Sawyer said that great innovations introduced during the Great Depression include Kraft macaroni and cheese and Miracle Whip. Also, Apple’s iPod was released in 2001, shortly after the tragedy of Sept. 11.
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Editor’s Note: Sawyer is available for live or taped interviews using our free VYVX and ISDN lines. For assistance, please contact Neil Schoenherr at 314-935-5235 or nschoenherr@wustl.edu.