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What Innovative People & Companies Do Differently

By Dennis McCafferty  |  Posted 2015-06-17
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    What Innovative People & Companies Do Differently

    What Innovative People & Companies Do Differently

    By Dennis McCafferty

Everyone talks about being innovative, but do you and your IT teams really have what it takes to propose and pursue pioneering ideas that are both disruptive and profitable? A new survey from McKinsey & Co. highlights the following eight characteristics of innovative leaders. An accompanying article to the study, "The Eight Essentials of Innovation," reveals that groundbreaking ideas are not simply the result of hard work or good luck. They're developed through effective, strategic practices that are often embedded in a successful organization's culture. In addition, would-be innovators must be willing to take bold risks, because these efforts frequently require a profound business reinvention. "It's no secret: Innovation is difficult for well-established companies," according to the article. "By and large, they are better executors than innovators, and most succeed less through game-changing creativity than by optimizing their existing businesses … Since innovation is a complex, companywide endeavor, it requires a set of crosscutting practices and processes to structure, organize and encourage it." More than 2,500 executives took part in the study.

Dennis McCafferty is a freelance writer for Baseline Magazine.
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