Leading innovation in organizations calls for changing strategies (objectives, business models), structures (processes, systems, hierarchies and ways of working) and cultures (behaviours, attitudes and organizational norms). Some attempts at deep transformational change succeed (IBM and Whirlpool are well documented) and many fail (Kodak and Borders books come to mind). The failures are often because of bad timing, skillsets that cannot cope with the unknown and an unreasonable imprisonment within the realm of reason. Here are three tips to overcome these challenges.

Tip #1: Set the pace and stick to it
Timing is always of the essence when change is effected in organizations. Keeping a lookout on what is going on out there and reasoned judgment on what new things are on the way are vital for strategic planning. Changes in the business context are of course beyond any single company’s control.

To forge a new strategy and gain competitive advantage in a new business context, especially one that is greatly affected by digitalization and new technology in its many forms, established companies must also transform themselves internally. This might mean extensive firing and/or hiring, redeployment, new jobs with new work content, new chains of command and changing the content and form of communication with clients and colleagues. Change is always disruptive in that, for a period, the organization will be working both in the old way and the new way. In the process not all people will be equally happy because people have different rates of resisting, accepting or adopting change. Crisis management nearly always requires more directive leadership (and less time to discuss) whilst anticipative strategies can be more participatory. In any case setting a pace for the new way to completely replace the old way is essential and, in general, fast is better than slow.

​Executive Excellence - Combine Leadership and Management to Create and Deliver Value”© is an impressive publication of nearly 400 pages, meticulously indexed and referenced that serves both as a practical guide and as a treasure trove for executives in organizations.

The authors, Nicos and Koralia Timotheou, father and daughter, presented their book on September 30 at the European University. The book is centered around their conviction that successful organizations are bound to create and deliver value to their stakeholders and they do this by organisational, management and leadership excellence. And the authors emphasize that successful leaders and managers are made, not born, they are self-made.  

We asked them a few questions: 
What would you say are the major milesetones on the road to excellence?

Successful executives continue through their life to expand their knowledge (their competences) and to improve their personal traits (their competencies).
They do not stop once they graduate a university - their first major milestone towards a successful career. They are aware that getting into any organisation, their academic qualifications are inadequate for success. They try to understand what they do not know and to bridge the gaps through study, active listening, networking with the best peers and, where possible, older managers.