There was a poignant ad campaign for an investment company some years ago that had a tag line with profound implications for today; it went like this: “Because not taking a risk may be your greatest risk of all”!!
Times are uncertain to be sure – this has always been true, but never to such an extreme. The global interconnections that have lead to such massive opportunities in good times have the reverse effect when economic crisis swings that pendulum the other way. But circling the wagons in this case is simply the wrong course for any organization wishing to prevail – the argument is that if you are not constantly moving forward, staying put actually translates to regressing. And at the speed and intensity of today's planetary competition, that is a course no company can afford to take for long.
Innovation leadership, as with leadership of any kind takes courage and work. Innovation leadership has to start with the CEO and the entire executive team – that is the only way it can become meaningful to everyone. And it has to be lived, not just spoken. The innovation process ownership must begin at the top and transcend throughout the hierarchy – right down to employees, suppliers, customers and shareholders. Everyone of these stakeholders can be the protagonists for growth – not just incremental improvers, but bona fide gamers-changers; if equitably engaged.
What does equitable engagement mean?
Just this:
- a definition of what innovation means to the organization
- a visible commitment by senior management to lead and remain engaged
- a process tailored to the organization’s DNA and innovation aspirations
- a web enabled technology that leverages automation and collaboration with:
- an open platform for honest discussion for and between all stakeholders
- a robust ideation forum to leverage creative exchanges
- a collaboration network that federates perspectives, cultures, skills, experience and expertise
- a workflow for rigorous advancement of ideas into proposals
- a purposeful decision mechanism designed for fast decision making
- a robust implementation tracking mechanism
- an accountable measurement system to monitor critical process activity and track financial results
- a meaningful recognition and reward program
- an energized, varied and constant communications initiative
- a timely feedback loop on all process action and idea history, touch points and outcomes
Engaging your stakeholders is not just needed – it is wanted. There are many people near-and-dear to your organization, brand and activities that care enough to get involved in your innovation future. Isn’t time the CEO and their Executive Committees do? Don’t just declare it so or delegate it away to someone by sponsoring it off – get involved. You’ll be surprised by the results.