In the Innovation Excellence post, Innovative Leaders Still Wanted, the author explores the need for a change in leadership focus in the now recovering economy. While tasked with survival actions during the downturn, today’s leaders are advised to re-center their business sustainability strategies on sustainable development and growth.“No matter how turbulent times may be, organizational leaders are still tasked with creating value and profit for their shareholders (whether earnings per share for public companies or salaries for private companies), and overtaking competitors in their marketplace. Unless the business has closed its doors, organizational leaders should understand the importance of prioritizing initiatives – and innovation and creativity should not be stifled, especially in a down economy.”
Recognizing this shift, many companies are seeking to refine their business sustainability strategies, improve internal and external communication, and bring cohesiveness to their organization by promoting greater stakeholder engagement. Applying some basic management principles in the sustainable business context, effective leaders can develop a leveraged leadership culture which will enable every role in an organization to align with business sustainability concepts. In fact, we find that these cultures:
- Create incentives and opportunities to lower costs, initiate process improvements, and stimulate innovation.
- Establish expectations for redefining products and service attributes.
- Align business sustainability expectations within the organization and across the entire value chain.
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