Innovative leaders

Authors: Van Y Pham & Ran Wei

Leadership plays an important role in organisations. Thus, how to know the qualities of an innovative leader with useful steps to innovation is a good point for us to discuss. Let's take a look at the following:

Three qualities of an innovative leader

1 - Innovative leader is about a pervasive mindset, not a schedule person.

Innovation isn't something you can schedule.  Let's meet in the conference room on Tuesday at three and be innovative. That might result in great brainstorming sessions, but true innovation doesn't work that way.  It's a pervasive mindset that seeps into all of our thoughts and attitudes.  Innovative leaders are willing to look at everything through a fresh lens even if that means unlearning some things, letting go, and trying something new.  Nothing is off the table.  

2 - Innovative leaders think in the future tense.

Next, innovation leaders feel comfortable thinking in the future tense.  They allow the strategic and imaginative sides of their brains to dance.  And that gives them a clear vision of what could be in a year, in five years, in 10.  It's creative thinking grounded in corporate objectives.

3 - Innovative leaders focus on the opportunity.

Innovative leaders also know how to focus on an opportunity represented by a new idea without getting bogged down in the details right away.  For instance, managers often have a practical side that automatically jumps in when they consider a different approach.  That won't work with our budget, or with our deadline, or our resources.  Whatever it is, the logistical challenges tend to trump the potential gains.  Innovative leaders know how to temporarily quiet that practical side while they explore the options.  They can process the opportunity at a higher level.

 

Six steps to innovation

 

Step 1: Carve your mental space.

Give yourself mental space to consider innovative ideas.  Read, ask questions.  Think about issues beyond the current deadline.  Challenge yourself to push the boundaries. 

Step 2: Repurpose proven concepts.

Then work to become the person in your organization who champions innovation and leads to big changes.  Don't put pressure on yourself to create something completely, totally never seen before.  Remember that some of the most impactful innovations emerge from repurposing or reusing proven strategies, methodologies, and solutions.

Step 3: Tolerate more risk.

Tolerate more risk and be persistent.  Allow yourself to think beyond the usual parameters to come up with unexpected ideas.  Recognize that not all of them will work and be okay with that.  Make adjustments, keep trying.  Failure could be just one step away from the next great success.  

Step 4: Share information.

Share and optimize information.  Gather as much information as you can and try to connect the dots in unusual ways.  Share what you're doing with other colleagues and learn from their successes and mistakes. Open lines of communication and ongoing information exchange will be valuable in spurring inventive thoughts.

Step 5: Link innovative ideas to projects.

Make sure your product changes or new processes align with the goals and brand positioning of your organization.  Would this idea help build awareness?  Increase market share and revenue?  Expand customer loyalty.  Make sure your great ideas are rooted in business benefits.

Step 6: Be persuasive.

Be persuasive in presenting your ideas.  Emphasizing those business benefits is the key.  Never force or push your concepts but present them with enthusiasm and conviction.  Pitch them in a way that shows how the ideas could positively impact the company goals.

Five steps to guide your decision making

 

Step 1: Consider a broad range of possibilities

Leaders consider a wide range of possibilities based on their broad perspective. If they've worked to position themselves as thought leaders, they are armed with the depth of knowledge that gives them a real edge.

 

Step 2: Analyse the impact of decisions

Leaders think carefully about the impact of their decisions on the company, the bottom line, the customers, the employees, even the competitors.  What's the immediate impact?  What are the long-term implications and consequences?

 

Step 3: Know when to act and when to pause

Leaders are decisive and courageous in their decision-making, but they also know when to strategically pause if a delay provides an advantage. Sometimes there's a genius in waiting.  For new information, for a competitor's announcement, for a technological advance.  That pause could prove to be priceless.

 

Step 4: Use structured models to guide thinking

Leaders use a structured process or model to guide their thoughts, such as Cost-benefit analysis, Risk analysis, Decision trees. And we will talk about these tools in the next slide.

 

Step 5: Have the discipline to think through alternatives from a strategic scope.

Prepare a plan B is also a good way for the leader reacts to the change that may happen during the process of implementing plan A. 

Three structured models to guide your thinking

 

1 - Cost-benefit analysis

Cost-benefit analysis is probably the most popular.  It helps you to assess the financial feasibility of a potential choice or initiative you are considering.  It all comes down to the bottom line.  Does this choice make sense in dollars and cents?  

 

2 - Risk analysis

Risk analysis gives you a structured approach for assessing potential challenges or threats involved with making a particular choice.  This can help you calculate the probability of the negative outcome, and the estimated cost to remediate or manage the problem. 

 

3 - Decision trees

 Decision matrix analysis or decision trees are another way to bring together all the disparate factors involved in your decision in a reliable and rigorous way.

 

Why a person can not transit from a manager position to a leader position

The main reason why he was being passed over for the director position is that he did as a doer, not a driver. This means he does up-to-date training and certifications, answers questions for his team, works with vendors and technicians, goes to some meetings and writes reports. Those things are not for a leader. It’s just the manager’s tasks. Thus, if he wants to get the leadership position, he should speak up more, showcase how much he knows about the industry, share some insights or innovative ideas for the future; look for opportunity and shine them in a different light.