- They are 1.5 times more likely than average to have in place a leadership model that describes expected contributions and behavior and that is grounded in company values.
- They make leaders’ compensation and career advancement dependent in part on leaders’ people-development efforts — 3.4 times as often as low-performing companies do.
“Every company is looking for the magic formula that will produce breakthrough products and services,” writes Ron Ashkenas. “But a better starting point is to think about what gets in the way of innovation.” In his HBR blog post (which has a pub date of a couple of weeks ago, but we don’t want you to miss it), Ashkenas lists 10 common inhibitors and how to address them. Here are the first five:
- Our focus on short-term results drives out ideas that take longer to mature.
- Fear of cannibalizing current business prevents investment in new areas.
- Most of our resources are devoted to day-to-day business so that few remain for innovative prospects.
- Innovation is someone else’s job and not part of everyone’s responsibilities.
- Our efficiency focus eliminates free time for fresh thinking.