18. Transforming the Future – Innovation in Leadership
Zubair Aslam
| Innovative Leadership | Technology Strategy | Digital Transformation | | Operational Excellence | SAP S/4HANA | AWS | Azure | BPR | RPA | Datalakehouse | AI ML |
Some see things as they ask WHY, while others dream of things, that NEVER WERE, and ask WHY NOT. Because, there is much more we don’t, know and it's greater. Innovation distinguishes between a leader and a follower. Creativity and Innovation are traits of a leader.
Innovative leadership combines collaboration, competence, and creativity. It leverages employees' creativity, inspiring them to develop key skills to boost company performance. An innovative leader isn't necessarily the smartest or the most creative.
Innovative leaders endorse and initiate innovative ideas as projects. Their effectiveness stems from their creative insights. Additionally, they motivate individuals to transform their ideas into practical outcomes.
1. Skills:
To foster a culture of innovation:?lead by example, encourage diverse teams, provide training and development, and reward and recognize innovation.?Here are some characteristics of innovative leaders:
2. Style and Characteristics:
A leader who fosters and encourages innovation exhibits several essential characteristics. These attributes distinguish them from other leaders. The leaders emphasize continuous innovation and believe inclusivity drives the best innovations. The support team is responsible for implementing and maintaining a creative workspace.
Comfortable with risk-taking
Innovative leaders possess a high tolerance for risk, understanding the importance of implementing new concepts after thorough research and due diligence.
Their high-risk tolerance keeps them competitive and leads to positive outcomes. They also have a backup plan if new ideas fail.
Promoters of Creativity
Innovation requires creativity for excellent results. Innovation requires leaders to push boundaries and inspire employees to explore creative ideas for solving modern workday problems.
Thomas Edison's frameworks set targets for employees to use various skills in their daily tasks and encouraged limitless innovation.
Detail-Oriented
Innovative leaders are very meticulous;?they are detail-oriented and make sure all aspects are on point, especially during the implementation of an innovation process. Innovative leaders understand that even a minor deviation in the innovation process can harm performance and success.
Innovative leaders efficiently manage time and resources for innovation. They manage time well, focus on details, and take responsibility for leading innovation in their companies.
Good Collaborators
Creative solutions emerge when diverse people collaborate to innovate, achieving desired results and driving company success.
Innovative leaders have high emotional intelligence and unite people with different temperaments, understanding both sides of a collaborative argument. They create harmony by considering all possible solutions.
Innovative leaders streamline the innovation process by combining diverse expertise and skills to develop creative insights, services, and products for a dynamic marketplace.
Creators of Innovative Culture
Effective innovation leaders prioritize innovation and aim to leave a lasting impact, regardless of their company type. They foster a culture of innovation, encouraging team members to develop creative ideas that embrace generational changes.
3. Steps:
The business environment is increasingly competitive, requiring leaders to enhance their strategies to provide their companies with advantages in new markets. Innovative leaders must be creative.
Here are some guidelines for practicing innovative leadership.
Develop psychological safety within the workplace
This ensures employees feel safe, can take risks, innovate, and express their ideas.
Emphasize Teamwork
Encourage team members to share their ideas and opinions, regardless of whether they may differ from those of innovative leaders. To cultivate a cohesive team, it is essential to integrate diverse perspectives and formulate strategies that guarantee ongoing success.
Teamwork is crucial for success. Additionally, when moving to a modern workplace that includes technology, it is important for the team to be in sync to implement changes efficiently.
Be Diverse
This is one of the essential leadership skills. You need to integrate people from different backgrounds and encourage them to work well with one another, despite their differences, because their perspectives can positively impact on the company.
Be an effective communicator
Effective communication?is a crucial skill for innovation. It is essential to ensure that instructions, strategies, and expectations are disseminated clearly. Additionally, it is necessary to maintain a steady flow of information that is open and easily accessible.
4. Challenges:
The innovative leadership style is becoming popular, and more leaders are trying to use it. However, with all the benefits it can bring, it has its challenges too.
Here are some challenges which are faced with innovative leadership:
Limited Resources
Organizations or companies aiming for innovation need human capital, time, and financial resources. Limited resources make implementing creative ideas difficult.
Innovation needs sufficient resources, and shifting from traditional leadership can strain the budget. Companies may incur losses if the implementation is not successful.
Resistance to Change
Innovation introduces changes to any company or organization. Processes evolve with new elements, but people often resist change. Introducing creative ideas to a team can present significant challenges for a leader.
People in organizations often resist change when asked to adopt new behaviors, processes, or technologies. Resistance can manifest as opposition, passive resistance, or skepticism within teams, groups, and organizations.
Resistance can obstruct innovative leaders, leading to missed opportunities and slow progress.
Time Limitations
Organizations and companies thrive on performance, which requires a clear plan. Leaders must quickly turn their ideas into strategies for success. Balancing innovative ideas with meeting deadlines can be challenging.
Leaders may encounter difficulties in managing daily operations while simultaneously pursuing innovative ideas. Leaders can set clear goals and deadlines and divide large projects into smaller, manageable tasks.
5. Showcasing:
Innovative leadership is not only about leading creatively but also about recognizing and rewarding those who contribute to innovation. Here’s how to demonstrate rewarding behaviors in innovative leadership:
Recognize and Celebrate Contributions: Recognize creative ideas and innovations with awards, announcements, or events.
Provide Development Opportunities: Reward innovation with growth opportunities such as training, mentoring, or industry events.
Introduce Structured Reward Programs: Use incentives like bonuses, gift cards, or extra time off based on measurable outcomes.
Foster Peer and Team Recognition: Allow colleagues to nominate and celebrate each other's achievements, emphasizing collaboration and collective impact.
Encourage Risk-Taking and Experimentation: Celebrate bold, calculated risks, even if they fail, to promote continuous learning and creativity.
Use communication channels to highlight and reward innovation.
Town Halls: Announce recognitions in meetings.
Digital Platforms: Share achievements on LinkedIn, the company’s intranet, or newsletters.
Recognition Boards: Establish a physical or digital space for acknowledging innovative contributions.
6. Benefits:
Innovative leadership not only shapes the organization but also inspires individuals to excel, adapt, and thrive in an ever-changing world.
Fosters Creativity: Empowers employees to think creatively and suggest new solutions.
Adapts to change: Quickly updates strategies for new markets, tech, and customer needs.
Facilitates Organizational Growth: Develops innovative concepts that result in product advancements, process enhancements, and expanded market share.
Boosts Engagement: Motivates employees by valuing their input and fostering ownership of the organization's vision.
Competitive Advantage Development: Distinguishes the organization by offering unique solutions that are difficult for competitors to replicate.
Promotes Collaborative Work Cultures: Encourages cross-departmental collaboration, leveraging diverse perspectives to solve complex problems.
Problem-Solving: Uses creative strategies to tackle challenges efficiently and find overlooked solutions.
Attracts and Retains Talent: Appeals to employees who value working in innovative and progressive environments.
Develops sustainability strategies: Establishes long-term plans that integrate sustainable practices to ensure the organization's resilience.
Improves the Decision-Making: Utilizes creativity to evaluate various alternatives, leading to comprehensive and future-oriented decisions.
Encourages Risk-Taking: Encourages informed risk-taking that can result in significant advancements, while utilizing lessons from failures to optimize strategies.
Enhances Customer Satisfaction: Aligns innovative thinking with customer needs, developing customized solutions that improve the overall customer experience.