Developing the Mindset For Innovative Leadership Tony Curl
Tony “Coach” Curl • 30 Years Retail Leadership • Certified Leadership Coach • Certified Empowerment Coach and Human Behaviour Specialist • Newly Published Author • Thought Leader
Walk-Through • Key Findings from Study of Australian Leadership on Innovation* • Characteristics of Innovative Companies • Summary of other studies • Key Takeaways *Study of Australian Leadership. Leadership at Work. Do Australian Leaders Have What it Takes? 2016 Melbourne University, Centre for Workplace Leadership
What Is Innovation?* Two dimensions of innovation relating to: (1) creating products and services that go beyond what is expected by existing customers, including experimentation and the creation of new opportunities and markets (Radical innovation); (2) developments that improve efficiency and expand existing markets (Incremental innovation).
OR! • Turning Ideas into Action
HOW WE RANK. Global Productivity Index 2015 Ranked : 17 Score: 55.2 Human Capital Institutions Innovation Inputs & Research Ranked : 10 Score: 64.8 Human Capital – 9 Institutions - 11 Infrastructure Infrastructure - 4 Innovation Outputs Ranked : 24 Score: 45.6 Innovation Output Creative Goods – 7 Innovation Efficiency Ratio Ranked : 72 Online Content - 6 Creative Online Score: 0.7 Goods and Content Services
Knowledge isn’t the PROBLEM As we transition from a resources based economy We have to get better at converting the innovation Inputs into outputs.
Key Finding Innovation is a critical source of productivity growth and competitiveness. SAL shows that workplaces with more capable leaders are more innovative – regarding both incremental and radical innovation performance. It also confirms the importance of innovation for business performance *Study Of Australian Leadership
Gaps Few Australian organisations report high levels of innovation Innovation drives growth and productivity. Yet most organisations struggle to turn knowledge and ideas into successful innovations. Too few (18%) private sector organisations report high levels of radical innovation. Surprisingly, public sector organisations were more likely than private sector organisations to have reported high levels on both types of innovation. However, findings show those organisations that do innovate successfully achieve superior performance outcomes. *Study Of Australian Leadership
It’s Not New! • 1995 – Australia. Industry Task Force on Leadership and Management Skills. (Karpin Report) • 2009- Management Matters in Australia • 2016- Study of Australian Leadership ALL cite a lack of leadership innovation.
Why Aren’t We Learning?
Key Characteristics of Innovative Companies • High Performance Work Practices • Learning Culture • Transformative Capability, the ability to turn knowledge into action • Self-efficacy of a leader is important
How It’s Changed Profit 2008 Profit 2016 223 470 161 110 -14.9 KMART TARGET BIG W -195 KMART TARGET BIG W Profit 2008 Profit 2016
Start Today RELEVANCE
Lessons Nokia's CEO Stephen Elop. “we didn’t do anything wrong, but somehow, we lost”.
The Moral of the Story “If you don’t change, you shall be removed from the competition.” Ask Yourself Today: “How Do I Stay Relevant with my Business?”
Success Is Your Responsibility
Intensely Curious
Vision – Goals - Priorities
Productive Relationship With Failure
Enjoy the Tough Stuff – It’s Small Steps
Make the World a Better Place
The Take-Aways Innovative Leaders Innovative Companies • Own their Success • High Performance Work Practices • Intensely Curious • Learning Culture • Prioritize Vision • Transformative Capability, the • Are Productive with Failure ability to turn knowledge into • Enjoy the Tough Stuff action • Making the World a Better Place • Self-efficacy of a leader is important
Tony Curl P: 1300 824 287 E: tony@tagb.com.au thinkandgrowbusiness.com.au
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