In the competitive world of business, the ability to innovate is paramount. As leaders rise through the ranks, innovation becomes a must-have skill. In a study of 5,000 leaders, five key competencies for innovative leadership emerged.
Innovative leaders manage risk effectively. They propose new initiatives, benchmark best practices, and plan for potential risks
Curiosity fuels innovation. These leaders constantly seek new knowledge, learn from past mistakes, and expand their skill sets.
Courage is key to innovative leadership. Leaders should articulate their opinions with conviction, even in the face of opposition.
Innovative leaders find opportunities in every situation. They aren’t afraid of setbacks or problems.
Innovative leaders understand their business, marketplace, and customers deeply.