The aspect of innovation that concerns most CEOs is that it is almost always
inseparable from risk. Though many pay lip service to the power of
innovation, most corporations today are averse to the type of aggressive
investment it demands. Instead, they dabble in innovation. They talk about it
as the lifeblood of the company and throw occasional resources and R&D
dollars into new product development. It is a hot topic in strategic planning
meetings. At least one manager or department is charged with ``doing'' it.
But there the commitment usually ends. Unwilling to be measured by their
failures, employees are reluctant to take risks that the successful
development of new ideas demands and, as a result, even the desire to
innovate diminishes. As most managers discover, it is one thing to talk about
innovation, but it is quite another to stake your resources ± and your career
± on it.
CEOs: setting the stage for innovation
The message is not that organizations are or should be abandoning innovation.
Quite to the contrary, given the benefits associated with adopting an innovation
mindset and pursuing growth through the development of breakthrough new
products and services, innovation should always be top of mind.
Innovation, however, will go nowhere unless it is an overt and prominent
priority. Therefore, innovation must start at the top. CEOs must serve as the
catalyst for sparking an innovation mindset throughout a company. This
responsibility cannot be delegated. It must be the leadership responsibility of
any CEO.