• Is innovation really one of the critical elements of
my company’s overall business strategy? What role
does it need to play? If innovation is not a top strategic priority, that’s
okay. But you shouldn’t expect to be very innovative.
• Do I rigorously track the cash payback from my
major innovations? Do I make key assumptions
clear and invite rigorous debate? Is my management
team in agreement on what’s important to
drive cash?
Innovation is all about cash payback. Drawing and
discussing cash curves can help keep the focus there.
• Do I understand the impact that globalization is
having, and will have over the next one to three
years, on my innovation activities?
RDEs offer sizable advantages and are underexploited
by most companies. The most innovative companies
realize the potential and carefully, but aggressively,
leverage it.
• Do the people in my company believe that our
organization is aligned around innovation? If not,
what specific elements are out of alignment?
What are we aligned around?
Lack of organizational alignment is perhaps the
biggest obstacle most companies face. A confused
organization, one that receives mixed messages, is
very unlikely to be innovative.
• What specific actions have I taken today, this week,
and this month to improve my organization’s ability
to innovate and generate the required payback
from those activities and investment? What do my
actions say about my priorities?
Innovation flourishes under and requires strong
leadership. The most innovative companies have a
leader who wants to make a difference and leave a
legacy around innovation.
Posted under On Leadeship
This post was written by techhair on July 14, 2008
