Innovation is such a popular buzz word these days that it has already lost some of its value. Today, every business is prioritizing innovation and trying to be on the cutting edge. Countless startups launch every day claiming they’re the next big thing—disruptive innovators who will change the world.
Unfortunately, most of these businesses aren’t truly innovative. Furthermore, the bigger a company gets, the less innovative it tends to become. That’s because even the most innovative minds can’t thrive in a corporate environment that’s weighed down in a quagmire of bureaucracy, decision by committee, and information paralysis.
Ultimately, business innovation depends on a company’s leadership—from the executive level all the way down to the smallest department and team levels.
Think about the business leaders you’ve worked with or read about. How many of them truly foster an environment that promotes innovation? The corporate rhetoric and PR script might hype the company’s focus on innovation (and believe me, I’ve written enough of them for big companies to know), but the reality is often very different.
As a business leader, it’s up to you to develop and continually nurture innovation. Here are five secrets to doing it successfully: [Read more…]