Saturday, 31 March 2012

Quality 5 of a Great Leader

"Daring ideas are like chessman moved forward;
they may be beaten,
but they may start a winning game"


Let's now examine the 5th Quality required by a great leader, as extracted from an article by Business Link.

Quality 5 - A great leader pursues, encourages and supports Innovation and positive change.

Innovate = Introduce something new.

By articulating innovation priorities and introducing measures to encourage and support innovative thinking, leaders can create positive change that directly links back to the leadership vision and strategy.

In a global survey entitled "How companies approach innovation", from McKinsey & Company, 94% of senior executives said that "people and corporate cultures are the most important drivers of innovation". In discussing these findings, McKinsey & Company say that the first step towards producing an innovative culture is "to formally integrate innovation into the strategic-management agenda of senior leaders .... In this way, innovation can be not only encouraged but also managed, tracked and measured as a core element in a company's growth aspirations". A sentiment echoed in an article from Business Week, which comments: "Ideas generation shouldn't be the starting point for innovation ... An innovation agenda is key ...
Leadership plays a big role here - it is the responsibility of management to articulate priorities."

To progress their agenda, leaders should explore methods for generating ideas (such as group brainstorming or collaborative innovation), and the various different ways to innovate (such as problem solving, simplifying or creating new offerings). Making continual improvement a performance measured objective for all employees, which acknowledges innovation through employee recognition may also be beneficial.

Other leadership priorities include freeing up the required management support and business resources for innovation, and fostering a culture that accepts failure as a potential part of the innovation process.

If you feel that working with me would help you explore innovative ways to grow your business then please get in touch with me at Nicholl Consultancy.

Until next time, be successful!

Regards - Sharon

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