There is an excellent article in this week's Economist on the opportunities for businesses that arise in a recession: http://www.economist.com/businessfinance/displaystory.cfm?story_id=14540023

Innovation is a key to these new technologies - IBM for instance is holding "innovation jams" with its employees. The GFC has provided many organisations with an opportunity to review their costs and to look at better more efficient ways to conduct business. We have worked with a company recently to construct an entirely new IT infrastructure. Not only have they dramatically decreased costs but they have seen a huge rise in productivity as a result of the new systems. They have embraced newer web based technologies to achieve a large number of these improvements. Less tangible results such as increased collaboration and better internal communication has also resulted.
How can your organisation innovate?