Best Practices for Fostering a Culture of Innovation
Many great companies accomplish innovation objectives under the leadership of household-name visionary leaders such as Bill Gates and Andy Grove. But we all know that people don’t stay with companies forever, and the culture must be prepared to innovate with or without their day-to-day presence. Companies that are overly dependent on the physical presence of their founders cannot be sustained. The marketplace seems to be confident, for example, that Apple® will continue to thrive without the dynamic leadership of Steve Jobs, may he rest in peace, because he established a genuine and sustainable culture of innovation. Team-driven innovation will create leaders at all levels that can sustain, perpetuate, and strengthen the founder’s vision long after he or she steps down from the helm of the company. Investments in training, commitments to empowerment and delegation, and the development of meaningful succession plans are all critical elements of this process.