However, without innovation, businesses are woefully unprepared to capitalize on new market developments, adopt advancing technologies, and prevent competition from taking their market share. To survive, companies must be able to change with the times.
By clearly communicating an inspiring mission, a leader can tap into a great source of energy and motivation for employees. A solid mission communicates why employees are doing something, not just how.
For too long, the primary value exchange between employees and their employers has been time for money, and not much more.
For the majority of us, implementing an innovative idea at a corporation is akin to running a marathon, with no end in sight. In fact, the innovation process is so difficult that even after being patented, 98 percent of ideas never make it to market.
On the covers of business magazines, young leaders are lauded for can-do entrepreneurial spirit. Meanwhile, in the opinion and advice columns of these magazines, young staffers are decried by older colleagues for their endless need to feel special and receive feedback.