With 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.