289: Beyond Business-as-Usual: Unleashing the Power of Innovation in Times of Crisis (12664)

In the current landscape, crises manifest with an enduring and multifaceted nature that exceeds regional boundaries, indicating a transition into the ‘new normalcy’. Within this developing crisis context innovation has arisen as a pivotal catalyst for entrepreneurial navigation and thriving. While entrepreneurs are adept at harnessing opportunities and transmuting them into innovative solutions that enhance competitiveness both routinely and during crises, the evolving nature of contemporary crises has catalyzed the emergence of a novel approach to innovation development. Entrepreneurs are developing innovative solutions specifically tailored to address arising crisis-related needs; accordingly, they are filling voids in responding to needs that would otherwise fall to government sectors to address. These innovation endeavors transcend predefined business innovation plans and roadmaps, as crisis-driven innovations were not the initial strategic priority for most enterprises. However, by galvanizing to innovate for community and societal needs, these undertakings harbor potential for longer-term business gains, like reputational benefits, goodwill, and exposure to new markets and partnerships. This PDW seeks to encapsulate these emergent facets of innovation development occurring amidst the transformative crisis contexts. It aims to convene comprehensive discussions and constitute a platform to cultivate a novel research community in this arena. Panelists will impart their distinct perspectives on the future innovation within the new normalcy of crisis contexts, while subsequent roundtable discussions will promote further dialogue to share experiences, thereby ultimately igniting novel research trajectories that explore diverse viewpoints on innovation amid adversity.