| As the economic recovery inches forward, executives in diverse companies, industries, and countries are facing complex leadership challenges. Many companies have put off developing new products, services, and technologies. At the same time, their customers are delaying spending.
In a recent Q&A, Stefan Thomke, the William Barclay Harding Professor of Business Administration and faculty chair of "Leading Product Innovation," discussed how executives can capitalize on economic uncertainty to create competitive advantages.
Companies that invest in innovation during times of slow growth are primed to seize market opportunities when the economy regains steam. Using new and existing technologies, executives can help revolutionize their organizations through experimentation strategies, simulation, prototyping, and tech development. By taking these steps now, businesses make sure they'll have the products, services, and processes in place to meet pent-up customer demand in the future.
Thomke believes leadership is the key to moving from innovation to product development to execution. The good news, he says, is that business leaders can develop the skills that foster action and inspire new ideas. In the HBS Executive Education program "Leading Product Innovation," senior executives learn how to align strategy with execution so they can manage known and unknown risks, reduce time to market, and boost productivity. Executives who attend the program will emerge with the ability to innovate in uncertain times — putting their companies in the best position to succeed when the economy rebounds. | 
This message is presented on behalf of Harvard Business School.
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