A Business Leader Who Fails to Promote Innovation Isn't Much of a Leader At All

A weekly newsletter featuring the biggest ideas from the smartest people

What’s the Latest?

There’s a great post penned by Stefan Vincent up right now at Innovation Excellence. Vincent offers an inspection of how successful companies prioritize creativity and innovation, as well as how prospective executives should plan to direct their organizations’ goals. It all begins with a company’s mission. Despite the many ways in which mission statements are lampooned as contrived, a good leader should build a foundation with his/her organization’s goals and the innovative ways employees are expected to pursue them. A robust mission is a call for action; it’s not enough to be “the best,” a leader should inspire employees to keep getting better.

What’s the Big Idea?

Vincent’s post features 7 guidelines for the innovation-minded executive. They include taking a cue from companies like Google and 3M by letting employees work on personal projects, the hope being that the creativity they muster up on those projects will be injected into other areas of business. Also important is employee recognition, encouragement of professional development, and the understanding that failure is merely one more step toward success.

Vincent’s main point is, verbatim, “Smart business leaders shape the culture of their company to drive innovation.” He cites the example of BlackBerry, a company that banked on the strength of its products yet failed to develop a continuing strategy for advancing that product. Be more like Google, says Vincent. Invent the future of your industry. As a business leader, you’ll get nowhere if you sit on your hands.