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Attributes of Innovation Leaders
Abstract
Many innovative companies pass through a number of transformation stages. The transformation is considered a chain of activities that begins with information that leads to knowledge, then into learning before it can finally be used for innovation. The chapter shows that transformational leadership is a key factor for moving the organisation from being information-based into knowledge-based and then into a learning organisation and an innovative company. The six important characteristics of the transformational leaders for the transformation are shown to be courage to switch off or terminate projects, rewarding performing staff, ability to appropriately time release of products to the market, ability to release products to the market within budget, and ability to inspire and be a role model for other staff. The chapter also shows that there are fourteen transformational leadership attributes that may be considered less critical than the above-mentioned six characteristics. Those non-critical characteristics include: degree of passion for the job, attracting talent, ability to build teams, coaching subordinates, communicating at all levels, driving projects successfully, enabling project-supporting environments, advising others managers, advocating for improvement, encouraging self-goal setting, ability of self rehearsal, ability of self reinforcement, ability of self-observation, and ability of self-expectation.
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