Creativity in a Downturn

MasterCard recently hosted a webcast discussing various directions the company could take once the economy turns around. The presentation featured findings from an internal, international "task force," which has been gathering ideas for months from MasterCard employees at all levels around the world.
In the recent past, such a production would have been reserved for senior management. But the Webcast was open to all 5,500 employees, from interns up to its chief executive. The aim: to invite anyone with an idea for new products, services, or internal processes to speak up, and encourage staff members to "bring their best selves to work" during the downturn.
The mission is critical today as companies struggle to keep employees creative and motivated when job and budget cuts, declining revenue, and losses dominate the headlines.
At Walt Disney, senior VP Luis Fernandez encourages his staff to participate in similar knowledge sharing opportunities. "I'd be lying if I told you we didn't have budget cuts," he says. "But it is really about making sure we cut things that are not really encouraging the teams. We do not question the value of innovation, even in a recession. It's important now more than ever."
The smartest companies will continue with such brainstorming projects after the recession runs its course. "Even when the economy recovers, these practices are a good strategy," says Prasad Kaipa, a former Apple research fellow and now an innovation coach for such companies as Cisco, Ford, and PepsiCo. "That's because the more hope, vision, imagination employees experience, the more they feel they have the power and freedom to innovate."

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Brian Swann
VCU Brandcenter / Creative Brand Management / 804-690-7048
www.brandcenter.vcu.edu / swannbr@gmail.com