In this environment of austerity and corporate belt tightening, the first persons to realize that leadership changes are necessary at every level of the corporate ladder are the heads of businesses of all sizes. Businesses realise that the strong survive but innovative companies can prosper in the darkest of times.
The realisation that businesses are only as strong as the sum of all working parts has caused ripples of change throughout the human resource departments and company cultures. Many of today’s most successful companies have been able to adapt to highly competitive markets by re-training their department heads and upper echelon staff.
The new emphasis is on transparency throughout the corporation. The old management style of “on-a-need-to-know” basis is long gone. Today’s communication lines are open and the operative words are innovation, collaboration and cooperation, internally and externally.
Open the Internal and External Idea Pool
The pressure is on businesses large and small to develop new products, bring them to market and unveil new income streams. Open innovation is one of the new management skills that company leaders are embracing with enthusiasm. Open innovation is the most cost-effective way to accomplish research and development. Open innovation requires collaboration with outside providers and an open door policy in the corporate culture.
Transitioning to new management styles is a challenge for some of the company’s senior leaders. The initiative must come from the top and work its way down. When the company is on the same page, it is time to reach out to partners who also realize the benefits of collaboration.
Only 19 percent of HR Managers Are Confident
In 2011, Forbes Magazine reported that only 18 percent of HR professionals believed their organization was equipped to meet future business challenges. More surprisingly, there was a general lack of enthusiasm for the current management style.
HR professionals are the first persons to recommend new corporate mindset exercises like team building and leadership training. HR professionals recommend three key areas where leadership quality can help businesses.
1. Management needs to question the existing culture at every level and identify flaws in the template.
2. Management must evaluate the current talent pool and determine if they have the skills and ability to be effective in an open innovation environment.
3. Management, including management at the highest levels, must assess their own capabilities to implement new corporate structure where the doors are open and the common goal of the company rules.
If your business could benefit from anew culture, consult a professional training consultancy immediately. Your business is losing ground fast. Rather than work against inventors toiling away in garages and underfunded small businesses, why not join them? Be innovative and lead. Those are the keys to success.