Numerous research studies show that innovation is the key to the future success of organizations. Innovation is the creativity that adds value to an organization’s bottom line results and productivity. It’s the process that creates actionable new ideas furthering an organization’s mission and goals.

An IBM 2010 Global CEO Study surveyed more than 1,500 IBM CEOs and named creativity as “the single most important leadership competency for enterprises seeking a path through … complexity.” A Conference Board report released in February 2015 identified “creating cultures of innovation” as a key strategy to meet organizations’ top challenges. Furthermore, research from Deloitte, PwC, CapGemini, and other academic studies, supports the need for innovation within organizations. Even though innovation is recognized as a crucial strategy for organizations, research reveals that most organizations are not good at innovation. This is because most organizations do not encourage innovation – it’s simply not part of their culture.

Leaders play an important role in ensuring innovation becomes a part of an organization’s culture by creating an environment where a dedicated innovation team questions assumptions, thinks differently, experiments with processes, and implements new ideas and solutions.

Are you a leader who encourages innovation in your organization by inspiring curiosity, challenging current organizational perspectives, and creating freedom from fear of failure?