Monday, December 27, 2021

How to Become an Innovative Leader

Anyone hoping to move up the leadership ranks better put "innovative" at the top of their resume.

Innovation is highly prized by companies because it means that this person is always on the lookout for new ideas and new opportunities, which are critical in succeeding into today's competitive marketplace.

In an XBInsight study of almost 5,000 leaders across a wide range of industries, here are the competencies that innovative leaders share and how you can do the same:

1. Manage risk. Think of at least eight new initiatives and benchmark the best practices for each. How can they be implemented in your organization? Then, identify, document and plan for risks, dissecting the risk for every decision.

2. Show curiosity. What other education or training do you need to expand your current knowledge and skills? Look at past mistakes and write down what you can learn from them and what behaviors or actions led to those mistakes.

3. Lead courageously. Be willing to share your feelings and opinions clearly and with conviction even if you get pushback. Think about how to be assertive without being aggressive. Try to always look for the win-win.

4. Seize opportunities. When you've run into a setback or a problem, have you looked at it in a different way so you can create opportunity? New situations can create new areas of growth, but you can't let yourself be intimidated by them. Look for collaborators and remember that you don't always have to go it alone.

5. Maintain a strategic business perspective. You must thoroughly understand your business, the marketplace and your customers. With that knowledge you can then develop collaboration with others to better analyze and execute a business strategy.

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