Creating a Culture of Innovation Starts With the Leader
The leader plays a critical role in creating the right environment for innovation to flourish.
Innovation is the lifeblood of entrepreneurship.
Peter Drucker considers it, “the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service.” That said, the reality is that although organizations value innovation, they struggle to achieve it.
Research by McKinsey revealed 94 percent of surveyed executives were dissatisfied with their company´s innovative performance, and 85 percent of global entrepreneurs create businesses on someone else’s idea, Amar Bhide, said.
This all points to a failure in entrepreneurial leadership. The leader plays a critical role in creating the right environment for innovation to flourish. Leaders often look to influence innovation at the organizational (macro) level; but equally they can inspire openness of thinking and ideas at a personal (micro) level.
Influencing innovation and ideas at the organizational level.
There are many strategic ways leaders can influence the flow of innovation and ideas at the level of organizational design that goes beyond the lame suggestion box. Here are three proven approaches. Read more
Ric Kelly - Entrepreneur - 11 June 2017