The first challenge to corporate leadership is to create a culture for innovation in and around their organizations. The following kinds of actions are needed.
Encourage introspection on the recent track record of innovation at all levels – group, corporate, division, region, factory, etc. Are people satisfied?
Guard against complacency, by asking for inter-firm comparisons and benchmarking on innovation, against Indian and global competitors.
Carry out a survey of the existing organizational culture with respect to innovation:
*What forces support innovation
* What forces inhibit innovation
The survey may be formal or informal. It could be done internally or commissioned by an external agency.
Let the concerned persons know the findings of the survey. Invite suggestions for improving the culture for innovation.
Build on the suggestions. Add to them. Make the necessary changes in the top/senior management attitudes, styles, structure and systems, to foster innovation.
Encourage, support, demand, recognize and reward innovation in all relevant aspects.