Category: Leadership of Innovation

Five Reasons why CEOs and their Companies Crash

Failure is a natural part of the capitalist system of business. Less effective firms are supplanted by innovative competitors who can better meet customers’ needs. Unfortunately however, it must be admitted that many companies fail not because of superior competitors but because their leaders make egregious errors. Here are five key reasons (CRASH) why CEOs and their businesses crash and burn. 1.... Read More--

Can you use Prediction Markets to forecast which Ideas will turn into Successful Innovations?

Most large organisations have suggestions schemes which involve sharing ideas on an intranet social media site.  Here people can comment on ideas and vote for them.  But there is a problem with voting for ideas.  People can be lobbied to vote and they support the suggestions of friends and co-workers.  We see this often on the TV talent show X Factor.  People in Lancashire vote for the boy from... Read More--

Ten Top Tips for Leaders

How to Foster Creativity and Drive Innovation 1. Have a Vision for Change You cannot expect your team to be innovative if they do not know the direction in which they are headed. Innovation has to have a purpose. It is up to the leader to set the course and give a bearing for the future. You need one overarching statement which defines the direction for the business and which people will readily... Read More--

What does it take to become an Entrepreneur?

And How can we Get More of Them? For the past 10 years Gallup has run a survey called Enrepreneurial Strengthsfinder.  Over 5000 entrepreneurs have been interviewed.  According to Gallup there are 10 key characteristics that leaders of successful start-ups display.  In alphabetical order these are: Business Focus Confidence Creativity Delegation Determination Independence Knowledge-seeking Networking... Read More--

How can we stop Middle Managers from blocking Innovation?

Often we find in large organisations that the executive team is keen to improve innovation and at the same time, front-line staff are frustrated and keen to change things.  So why is change not happening?  Who is impeding innovation?  Middle managers get the blame.  They are seen as the blockers.  John Kotter in his book, Leading Change, identifies supervisors as one of the key obstacles to major... Read More--

Plan to Replace Every System, Every Process and Every Product

Peter Drucker The great management guru Peter Drucker said, ‘Every organisation must prepare for the abandonment of everything it does.’  What did he mean?  Think about your company today.  Now think about what it might look like in ten years time.  If it has survived then nearly everything about it will have changed – in particular the products, the services, the methods, the processes and... Read More--

Brag about your Failures

Many organizations in both the public and private sectors suffer from a corporate culture which is risk averse and fearful of failure.  People are reluctant to try new things or even to suggest innovations.  They remember old stories about colleagues being punished for experiments that failed. They have learned that it is safest to keep a low profile and focus on standard operating procedures. ... Read More--

Meet China’s Champion Innovator

In 1984 a young manager called Zhang Ruimin took control of a loss-making fridge factory in Qingdao, China. He was appalled at the low standards of workmanship and quality in its products.  In a dramatic expression of his wrath he gave out sledgehammers and asked factory workers to join him in smashing 76 faulty fridges in front of a large group of shocked employees.  The message was clear – poor... Read More--

Try this phrase to speed action; Unless I hear differently

Consensus is a good thing isn’t it? We want to get everyone on board and aligned don’t we? So we need to get everyone’s input and approval before we move forward with a new initiative, right? Wrong. If we wait until we have everyone’s feedback then we move at the speed of the slowest animal in the herd. One of the big problems with making innovation happen is the number of meetings... Read More--