When a company is in need of new leadership, chances are the board and CEO are going to enlist a search firm that will comb through the same old group of people in search of that new leader. They will search for someone who has served in that job at a similar type of company and almost always in the same industry.
It’s the way the business world works.
But is it always the right approach? Not necessarily.
Instead, Lloyd A. Perlmutter, a C-suite executive with years of experience leading businesses through exceptional growth curves, says cross-pollination in business — hiring executives outside of the industry — can be the way to get the kind of innovative ideas that spark innovation and disruption.