Australian boards are failing at innovation due to “ … competing priorities, limited resources, a lack of awareness of the need for change ...", According to a report (https://aicd.companydirectors.com.au/advocacy/research/driving-innovation-the-boardroom-gap) conducted by the University of Sydney Business School, and the Australian Institute of Company Directors (AICD).
The report found that although boards recognise the importance of innovation they had low innovation and digital literacy, and the tolerance for risk among senior management was much lower than 35 years ago.
The report makes a number of recommendations including lifting directors’ literacy, rewarding successes AND failures (something I've always banged on about), developing a shared language for innovation among management and investors, and incentives for long-term innovation.
How does your board fare with regard to innovation? As an entrepreneur and director myself, I know how hard it can be to create and maintain an innovative culture. Too often, organisations implement ad-hoc measures that don't achieve much in the long-term. Often boards lack information and may rush in with without actually knowing the problem. How do you quickly learn the language of innovation? What’s the best way to reward innovation? Exactly where do your innovation efforts fall short or have the most to gain? How do you free up your people's time to be innovative?
Having been both sides of the fence I've been helping organisations lift their innovation game and get real results. I’ve developed a set of tools, tested in the field, including a unique innovation survey to help you understand where your organisation stands - and the quickest, most effective fixes to apply.
Innovation Tools & Diagnostic
To help lift Australia's innovation game I am offering a:
free 30 minute phone consultation
50% off usual price for the diagnostic and/or a keynote for directors or executives about managing for innovation at your next board meeting.
Bookings need to be made before October 20, and implemented by the end of 2019. Only to the first five takers. Don’t know where to start? call me directly: Cris 0438 545 607