Lets first start off by making sure you fully understand the main terms here.
- Recession as stated by Dictionary.com as it relates to economics. "a period of an economic contraction, sometimes limited in scope or duration."
- Innovation as stated by Dictionary.com says "introduction of new things or methods."
With alternative operating systems, open source software and cloud computing all gaining traction, technological innovation seems to be hotting up. Was an economic downturn just what the IT sector needed?
The word "Recession" is the buzzword around the globe these days and has become the most famous word. As I can't say that it has become the most famous "brand". There is a positive side too; now companies are becoming more focused, realizing the value of managing costs and taking action to improve the customer loyalty and Brand image
Necessity, the cliché tells us, is the mother of invention. And today, unlike the relatively comfortable preceding decade, there is an abundance of necessity: the necessity for IT departments to perform technological miracles with evaporating budgets, for example, or the necessity for IT vendors to persuade customers to continue spending money.
To get a edge on the recession you can view this article courtesy of businessweek.com How to Innovate After a Recession