Dream On

Here you were feverishly cutting costs when you should have been doing something else all along — innovating. That’s the business mantra du jour, asserts Forrester Research Inc. in its new magazine (itself an innovative piece of work). Now that companies have streamlined every process and operation to the max, the only way to wrest growth from what’s left is to invent something new. And that, says author David Churbuck in his article “The Innovation Moment,” is “where the dream starts — out in the garage with Orville and Wilbur, Wozniak and Jobs, the next big thing.” Areas that are ripe for innovation include resources, such as airplanes, radar, cell phones, and junk bonds; processes, such as drift-net fishing, desktop publishing, and just-in-time manufacturing; and business models, such as big-box retailing, online stock trading, and that ultimate blockbuster, iTunes.