Innovation & Leadership
In August 2011, According to Smith & Hall (2012), The New York Times described innovation as “the critical ingredient to all economic progress, higher growth for nations, more competitive products for companies, and more prosperous careers for individuals” (p.36) Several businesses and consulting firms consider innovation as one of the most important priorities for an organization. Creativity is the process of developing good ideas that can be put into action, whereas innovation utilizes the part of creativity to come up with new ideas and products (Dubrin, 2011, p. 98). Also, innovation in an organization can provide revenue and create an advantage over its competitors. Therefore, Innovation productivity is essential for organization to thrive in today’s economy because it allows companies see new opportunities and then capitalize on them. Hence, Leaders in an organization have an important role in promoting innovation among others because they are the ones that influence employees’ creativity, facilitate new ideas, and help put into action the new ideas.
Main Points
When a leader takes the necessary actions to allow their employees to come up with new ideas, think differently, experiment with creativity, and complete inventive tasks, it allows an organization to be more innovative. Several ways in which a leader can promote innovation consists of an individual leader’s value for diversity in proposals, identifying new opportunities for the accepted risk that are involved, and providing the necessary resources for their staff. In addition, leaders have a vital role in organizing the clarity and the focus aspect needed for prioritization. Also, successful innovative leaders are effective in facilitating the structure and accountability that ensures innovative tasks are met (Smith & Hall, 2012, p. 39). In essence, the leaders are the ones who ensure that the innovation process is a success. For instance, a solution or idea that has not moved beyond the idea stage is a lost opportunity because it does not benefit the company at all (Smith & Hall, 2012, p. 39).
Conclusion
In conclusion, innovation is a top priority for a business to succeed in today’s market. Innovation not only comes up with new ideas, but it allows companies to capitalize on new opportunities and have an advantage over their competitors. In essence, for a company to maintain its completive edge; it takes a leader who has encompasses a creative influence with their staff, is good at facilitating the innovation process, and one who can recognize and utilize the new ideas created by the staff, and then make those ideas into a reality.
References
Dubrin, A. J. (2011). Fundamentals of Organizational Behavoir. Mason: Cengage Learning.
Smith, A., & Hall, E. (2012). Innovation-Driven Leadership. T+D , 66 (3), 34-39.
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