Why would a company that rose to prominence based on its innovativeness abandon its lifeblood when the founder exists the building? There are many examples of this happening out there. However if they follow in the footsteps of the world’s ‘serial innovators,’ leadership can keep a company’s innovation flame lit without having to bring back the founding CEO.
Two new research studies examine on the one hand personal values among young adults on the other the realities of corporate values and culture. Both have some harsh truths to tell. The two forms of ‘relative values’ these studies discuss, have implications for strategic flexibility and devolved decision making for market success. Coupled with greater transparency they may also mean that companies need to take a long hard look at their corporate cultures.
For years, management and business schools have vastly exaggerated the importance of tools and theories in delivering innovations to the markets effectively. As common sense indicates, the overwhelmingly important predictor of success for an innovation is not the use of tools, “innovation frameworks”, or handbook of rules, but the quality of leadership of the project and the talent and motivation of the staff carrying it out. In innovation management, we need to go back to basics.
Innovation obviously requires creativity. That much everyone agrees on. However, it has a secret ingredient that must not be left out: Leadership. All innovators have to play leadership roles, whether they are in formal executive positions, or quite the opposite. In this article Alexander Hiam delves deeper on how to master innovative leadership.
Strategic management today must focus not only on meeting short term targets and budgets but also on building an organization prepared to succeed and lead into the future. This is obvious, you may say. But how is this simple reality reflected in how we strategically lead and engage our organizations? Read more in this article by IMD Professor Thomas Malnight.
