Wednesday, August 31, 2011

Secrets of Top Innovators

Top innovators consistently drive success via a number of key strategies that may not be oblivious. One measure of these companies is the industry standard of sales per square foot. Despite the fact that these companies represent a diverse sampling of industries — from gadgets to gold to golf shirts — almost all of them have woven their success from common innovation secrets. Here is the list of the top ten companies and their sales per square foot:

1. Apple: $5,626

2. Tiffany & Co.: $2,974

3. Coach: $1,820

4. Lululemon Athletica: $1,731

5. GameStop: $1,009

6. Costco Wholesale: $998

7. Signet Jewelers: $955

8. Polo Ralph Lauren: $904

9. Whole Foods Market: $867

10. Best Buy: $831

So what is it that these star performers are doing to put up such extraordinary numbers? They innovate by using one or more of the following secrets.

Monday, August 22, 2011

Flexible Leadership Driven by the 3C's

It's often not what a leader does but rather how they do it that makes the most impact. While some are, take charge in your face and others are content to play an off-stage role and work behind the scenes, all 21st Century Leaders should be driven by the 3Cs: context, circumstance and consequence. Leaders need to be flexible and apply a leadership style that fits the situation. Considering context, circumstance and consequence is a good way for a leader to determine how involved to be and what style to employ. Here are some guidelines:

Thursday, August 18, 2011

Myths That Inhibit Innovation

The first step on the way to inspiring innovation is to ruthlessly expunge the romantic myths that surround it — they often stop us from seeing the fresh ideas that are right in front of us. Here are four of the biggest myths about innovation, along with tips for seeing your way around them:

Wednesday, August 10, 2011

Leading via Innovative Risk Management

Leading via innovative risk management does not mean closing your eyes and taking a leap. Bravery (or stupidity) has nothing to do with it. It means taking steps to heighten your sense of control, and reduce the “unknowns”, then risk is no longer even a consideration. When you are in control and unafraid you don’t have to take risks. You get to make decisions instead.

Here’s the leading via innovative risk management process:

Tuesday, August 9, 2011

Most Innovative Companies

For over a decade, FORTUNE magazine has published its listing of the World’s Most Admired Companies, surveying 15,0000 executives and financial analysts on their perceptions of Fortune 1000 and Global 500 companies across more than two dozen industries. Companies are ranked across nine attributes including: their ability to attract/retain talented people, quality of their management teams, social responsibility, how well they leverage corporate assets, their financial soundness and long-term investment value, their ability to compete globally, their innovativeness, and the quality of their products and services.

Here is the list:

Monday, August 8, 2011

Innovation Requires Embracing a Risk Mentality

Who are the leaders that drive innovation? It’s not the ones that sit back and takes no chances. A lot of us have tendencies that incline us to avoid risk. It’s much easier to take the safe path. And, honestly, there’s nothing wrong with being safe. But just as being safe reduces your risk of failure, it also reduces your risk of success. Innovation requires the ability to embrace risks where there is potential for payoff. Who are the leaders that drive innovation by embracing risk? They include people like: