Why CEOs Don’t Get Innovation

CEOWith all of the emphasis put on the importance of innovation in the business world today, one would think that CEOs would be actively pursuing, promoting, and implementing innovation-maximizing strategies within their organizations. According to a 2007 study by the Center for Creative Leadership in Greensboro, N.C., however, most executives and managers are doing surprisingly little to inculcate a culture of innovation in the workplace: “When asked what they were doing to promote innovation in their organizations, the most popular strategy , adopting ‘over innovation processes,’ was named by only 25%. Only 17% said they were undertaking ‘talent/talent development,’ the second most often mentioned answer, and 13% said they had rewards/recognition programs to support innovation.”

In this article from BusinessWeek.com, Stefan Lindegaard identifies five main, widespread reasons why CEOs and other C-level officers often fail to effectively identify and support innovation in their own businesses, despite the growing importance of it. Click here to read the entire article: http://www.businessweek.com/innovate/content/mar2010/id2010033_525543.htm.