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Earlier this year the Conference Board released the results of a survey of
CEOs to identify their most critical challenges. The hands-down winner
was the challenge of human capital, especially leadership. Second was the
challenge of innovation. For every region of the world, innovation was
among the top five issues identified. Asia placed it first.
One finding from the research my colleague Joe Folkman and I have done
on approximately 60,000 leaders who had received 360-degree feedback
data from nearly 830,000 colleagues was that innovation usually sits in
the middle of the competencies we measure. However, the bosses of our
participants placed it lower. They consistently ranked innovation at 13 out
of the 16 competencies we most frequently measure.
CXO
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Our greatest insight from this analysis is that innovation is very seldom a
one-person show. It is nearly always a team effort, and the culture that
spawns that effort is the result of a leader who recognizes the
organizational need for innovation, and recognizes the contribution
leaders make to create a culture from which innovation emerges.
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