Chief executives have found other ways to create value.
|Scooped by Richard Platt|
In high-tech and fashion retail, more CEOs have a product development background than in pharma (around 60% in both industries), but we found that breakthrough innovation for public companies in these industries is rare; most happen pre-IPO. Instead, public companies are mostly exploiting and improving upon past breakthroughs, not coming up with new ones. In this context, CEOs with technical backgrounds don’t necessarily achieve higher shareholder returns than those without. But with rapidly changing technologies and consumer preferences, having the right specialist experience can help CEOs keep their companies and their offerings relevant.
How Does Your CEO rate as a breakthrough innovator?
What have they done to actually warrant this usually self promoting and self-aggrandizing statement?
One cannot manage what one does not measure, and this includes CEO's / Senior VP's who like to say they are about the "innovation thingy", yet don't have the skills, experience or background, that demonstrates that is a fact.
Admitting the truth of yourself, others or a situation is not a sign of being a failure or even failing, it is a sign of strength, humility and respect for yourself and others, and it is a way through to rectifying the issue at hand.
If on the other hand you might need to rethink over-reaching when making such statements, that you're a innovator, or even a breakthrough innovator, or at least hire real honest to goodness Serial Innovators to help the firm to be innovative, - Just saying...