When a crisis occurs — whether health, economic, climate or political — companies often have the reflex to limit their investments, especially in terms of innovation. However, it is precisely in these periods of uncertainty that innovation becomes essential to ensure their survival and development.

Faced with market upheavals, innovating is not a choice, but a necessity to stand out, bounce back and seize emerging opportunities. How to manage your company and its teams so that they continue to innovate in times of crisis? First, we will see how innovation can be a driver of resilience and transformation for businesses in times of crisis.

Next, we will analyze the strategies to adopt in innovation management to stimulate creativity and mobilize teams in the face of challenges. Finally, we will explore the key role of new technologies and organizational flexibility in this process of business adaptation and innovation.

Understanding innovation in times of crisis

Political, financial, climate or health crises generally cause a break with traditional patterns and highlight the limits of the methods and strategies established by some companies. This requires leaders to rethink how they operate, explore new approaches, and transform their internal processes.

Innovating in a hostile context, such as during the COVID crisis or in a tense geopolitical situation, means above all:

• Adapt your tools and systems to new constraints.
• Imagine new solutions and identify breakthrough opportunities.
• Design new products, services, or business models to meet emerging needs.
• Review the internal organization in order to gain agility and efficiency.

According to a McKinsey study, companies that invest in innovation in times of crisis perform better in the long term. Those who maintain their innovative efforts during a crisis see their market capitalization increase by 10% on average and their growth accelerate further 3 to 5 years after this period.

Examples of companies that have made innovation a winning strategy in times of crisis

Difficult times are often synonymous with challenges and challenges, but they are also conducive to innovation. Thus, several globally recognized companies have been able to take advantage of critical situations to transform and prosper.

L'Oréal: rebounding through research and internationalization

In the 1970s, after the death of its founder Eugène Schueller, the L'Oréal company went through a period of uncertainty that could have led to an acquisition by Nestlé. Thanks to the vision of François Dalle, his successor, the company was able to diversify, strengthen its international presence and focus on research and development. By continuously innovating, L'Oréal has become a key player in the cosmetics market.

Apple: a renaissance thanks to product innovation

In the 1990s, Apple was on the verge of bankruptcy. But the return of Steve Jobs to the head of the company in 1997 marked a decisive turning point: by simplifying the product range and refocusing on innovation and design, the company was able to regain the trust of its customers.

The launch of the iPod, then the iPhone and the iPad, shook up the tech industry, showing that a crisis can become a real driver of transformation.

Netflix: a crisis as a springboard to a new model

In 2011, Netflix suffered a major crisis after a poorly received increase in its rates and a failed attempt to separate its DVD rental service from its online offering. As a result, the platform experienced a significant wave of unsubscriptions and a fall in its stock market shares. To bounce back, the company therefore had to focus on the production of original content and on its international expansion. This daring bet paid off, propelling Netflix to the rank of world leader in streaming.

What strategy should be adopted to stimulate innovation in times of crisis?

Innovation in times of crisis is based on several key principles that allow businesses to remain competitive and reinvent themselves:

1. Detect internal flaws : A crisis often reveals the limits of an organization. It is the ideal time to analyze what is not working and make the necessary corrections.
2. Adopt a positive and resilient vision : The ability of a manager to unite his teams around a clear and motivating vision is essential to overcome difficulties.
3. Exploring new opportunities : Collaboration with other sectors, partners, or startups can be a valuable source of creativity.
4. Dare to take controlled risks : Innovating involves experimenting, testing new approaches and thinking outside the box.
5. Demonstrate agility : A flexible and responsive company is better able to adapt to market changes and customer expectations, and to transform constraints into opportunities.
6. Encouraging a culture of innovation : Innovation should not be reserved for a specific department, but should be an integral part of the company's DNA.

Human resources have a key role to play in making teams aware of innovation and in giving them the means to contribute to it. Managers and leaders must understand the strengths of their teams and invest in appropriate tools and training to develop their skills.

Note: innovation also requires financial resources. For start-ups and start-ups, funding research and development can weigh heavily on the budget. Recognizing this challenge, France has put in place financial aid mechanisms to support the technological innovation of these structures. These measures make it possible to promote the emergence of new solutions and to stimulate the competitiveness of businesses.

The role of new technologies and organizational flexibility in business innovation

Technology and organizational flexibility are two major levers that facilitate innovation in times of crisis.

The impact of new technologies

New technologies are helping businesses evolve faster and improve the way they work. For example, artificial intelligence automates certain repetitive tasks, allowing teams to focus on more strategic and interesting missions. But to take full advantage ofAI in its innovation strategy, it is crucial to train employees and to encourage a digital culture within the company.

The importance of flexibility

Flexibility is a fundamental asset in any situation. A firm that is rigid and reluctant to change will find it difficult to adapt to new market realities. On the other hand, an agile organization, open to new ideas and ready to experiment, will be able to bounce back and innovate better.

Encouraging creativity, simplifying processes, and giving teams the autonomy they need are all strategies that promote innovation. Knowing that it can be expressed at different levels:

• the development of new processes
• The choice of new technologies
• the creation of new products and services
• the marketing approach.

Mobilize your teams with efficient management

Above all, innovation is a collective dynamic. To be effective, it must be supported by a corporate culture that stimulates the creativity and commitment of employees.

• Encouraging involvement : Each employee can have an innovative idea. It is therefore crucial to create an environment in which everyone feels listened to and recognized.
• Train and raise awareness : Offering training courses and workshops dedicated to innovation makes it possible to develop skills and to nourish the entrepreneurial spirit.
• Adopt a transformational leadership : Leaders have a key role to play in embodying change and motivating their teams to be fully involved.

Get support for successful innovation management

Innovating in times of crisis is a major challenge, but it can be successfully met thanks to a structured approach and adapted support. Calling on coaching experts for managers makes it possible to better understand these transformations and to build a culture of sustainable innovation.

Chez VISCONTI Partners, we support leaders and managers in this dynamic of innovation and resilience. If you want to know more about our methods and benefit from tailor-made support to adopt the right innovation management strategy in times of crisis, contact our team today !