A new set of rules for innovation during times of economic uncertainty

The year 2008 will be remembered for many things – in particular, the fact that in this year the world entered a financial crisis of unprecedented magnitude and scope. It was the year when we were struck by a global recession resulting from excess leverage in the financial markets, the unwinding of the Federal Reserve’s fiscal experiment and no-credit-necessary mortgage lending (to name but a few of the culprits). Corporate lay-offs, skyrocketing unemployment rates and declining stock prices grabbed news headlines. As we enter 2009, business executives, regardless of their industry, grapple with balance sheets in a state of flux and world leaders struggle to bring a sense of calm to their economies.

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