The Power of CEO

CEOs can ensure a culture of innovation that highlights the importance of harnessing the talent of the entire organization. Only CEOs can lead such quantum shifts in strategy. They alone can create an organizational climate, where fundamental assumptions are open to question. A real gap in Indian companies seems to be CEOs who nurture companywide innovation. While many CEOs are ‘visionary leaders,’ most are not enthusiastic champions of company-wide innovation. Both financial and psychological support from top management is critical for the culture of innovation. One of the main inhibitors of innovation is the attitude of the ‘Do it my way.’ Leaders need an effective communication system to share their business vision with the grassroots. This helps to empower all levels of the organization.