The Innovation Formula by Amantha Imber

Author:Amantha Imber
Language: eng
Format: epub
ISBN: 9780730326687
Publisher: Wiley
Published: 2016-02-01T00:00:00+00:00

It is not uncommon for senior leaders to play it safe when confronted with the choice of whether to support innovation. I recently worked with the Australian leadership team of a global technology company. While innovation was a strategic priority for the company globally, the Australian CEO was frightened of innovation because it meant taking a risk. And this fear permeated the business, which meant that employees were too nervous to do anything differently, because that was the message they were getting from the top.

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Samuel Hunter and his colleagues Katrina Bedell and Michael Mumford found that the fifth most impactful variable in creating a culture of innovation is the perception that top-level management is truly supportive of innovation. In our own research at Inventium, we have found that one of the biggest differentiators between innovative versus non-innovative companies is the degree to which employees feel that senior leaders really understand what innovation means in a practical sense — as opposed to just paying lip-service to it.

Unfortunately, I find that there is a lot of lip-service paid to innovation. I am often asked to deliver keynotes on innovation at company conferences all over the world. The need for an innovation keynote can be triggered by all sorts of things: a company deciding that ‘innovation' will be its theme for the year; innovation being a key strategic pillar of the company; or a CEO announcing to shareholders that the future is all about growth through innovation — and needing to back up that message with a relevant keynote speaker.

I find that these conferences fall into two categories:

those in which the leadership team is serious about innovation

those in which the leadership team is simply paying lip-service to a word that they don't even really understand.

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