One of the biggest mistakes companies can make during a recession is to cut resources for innovation, according to DePaul University Management Professor Lisa Gundry, who directs the Center for Creativity and Innovation at the university’s Kellstadt Graduate School of Business.

"While it’s understandable that business leaders worry about expending resources during a period of economic turbulence, diverting efforts completely away from innovating can cause more long-term harm to the business," Gundry said. "In the current economic climate, it’s imperative to direct efforts and allocate resources to sustain the pipeline of innovations in your business. Innovation isn’t a gamble. It’s a way of being—and remaining—in business. Companies that have pulled back from innovation in the downturn are unlikely to be positioned to take full advantage of the market recovery."

Gundry and business leaders in the forefront of innovation will explore this subject in-depth during the third annual Creativity and Innovation Center conference, "Innovating the Upturn: Creating the Future," at the DePaul Center, 1 E. Jackson, 8th floor conference center, from 9 a.m. to 4 p.m. Sept. 17.

Tom Schlegel, vice president of Product Development for Radio Flyer, which won the 2007 Chicago Innovation Award for reinventing its iconic red wagon to create the Ultimate Family Wagon, will deliver the keynote address on "Reinventing the Brand Through Design."

During two other sessions, Nanako Mura, associate director, Open Innovation and Knowledge Management, Kraft Foods, will speak on "Driving Growth Through Open Innovation," and Erwin Hinteregger, director, Global Packaging Innovation, Wm Wrigley Jr. Co., will discuss how to "Innovate Relentlessly to Compete for the Future."

Additional plenary and breakout session topics include:

• "Building an Innovative Context to Provide the Foundation for Innovation"
• "How the Economy Has Changed the Game at Retail – and Why Innovators Will Win"
• "Creating Job Opportunities and New Marketing Avenues Through Socially-Conscious Partnerships"
• "DuPage County’s Path to Excellence: The Practical Application of Innovation and Strategy"
• "The Business Opportunities that Social Networking is Making Possible"
• "Yes! Envisioning Your Story in Times of Change"
• "Creating the Future: Emerging Industries and Innovation"
• "The New City: Chicago as a Model of Sustainability"

The conference fee is $149 per person before Aug. 22 and $175 thereafter. For information and registration, call (312) 362-8395 or visit creativity.depaul.edu.