I have been reading lately on the word of the year – Innovation – The New Core Competency. This has been the main focus at many world business conferences, and also featured articles in Inc., BusinessWeek, and Fortune.
Knowledge used to be the core competency, but knowhow like software creation, programming, accounting, legal work, engineering and so forth can be outsourced to just about anywhere now, the new key to business prosperity is Innovation. Innovation in products and services that satisfy customer demands, either in niche product of the long tail or on mastering new design methods and innovation metrics of new products.
Leadership style and team management that fosters innovation I think will also have some play in creating business success in the new “creative” economy.