Case studies done in organizations to generate innovative ideas show that 70 percent or more of new ideas come from the people who actually do the work, according to John Gabrick, CEO of MindMatters Technologies, Inc., and author of the book, Step by Step Innovation.
Gabrick is a pioneer in innovation and intellectual property. In his book, he cleverly lays out a modern day of overcoming obstacles and making commitments to innovation programs. Gabrick writes, "Companies that stop R&D programs will also call off opportunities for people to grow and create."
Read also: Running an Innovation Program, Step by Step
Then why do companies cut back in tough times? In a Forbes interview conducted by Steven Forbes, Editor-in-Chief with billionaire, Ron Baron, founder of Baron Group, focused on why investing in people is important.
Forbes asked, "People just won't commit for stuff that's going to be big down the road? And Baron said, "Every business that has an effort to grow invests in themselves. Companies that invest in their own businesses may penalize current profitability, but give themselves bigger opportunity in the long term."
Baron offers a key point on entrepreneurial ability, "In the S&P 500, over half of the S&P 500 was created in times of recession or depression." As Baron says, you can hire more people now that you ordinarily couldn't hire, and you can get resources that you couldn't otherwise obtain.
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