Innovation Leadership: Managing Your Resources

Innovation leaders need to take stock of their resources, including human resources, financial resources, physical products, brand reputation, and relationships with customers, suppliers, and marketing services firms. They should ask themselves what they have on hand, what condition they are in, and whether they have enough to accomplish their goals. Leaders also need to develop a competent team by identifying A, B, and C players, and work closely with their HR partner. They should learn as much as possible about their budget, products, and services, and examine their channels of distribution as well as customer information. Most importantly, they need to understand what gives them the right to win in the marketplace.