Amid rapid market changes and constant technological evolutions, those looking to guide organizations to success in 2026 must make innovation key to their strategy.

Innovation—the ability to generate new and useful ideas or ways of doing things—can help organizations grow and stand out in an increasingly competitive market. Global employers predict innovation to be one of the 10 most important skills in the next five years, according to the latest GMAC Corporate Recruiters Survey.

So, what are the key skills executives need to boost their innovation capabilities? We spoke to Eric Porras, director of the EGADE–WP Carey Executive MBA, where innovation is central to the curriculum, to find out.

5 key skills for innovation

1. Strategic foresight

The ability to look ahead is essential in ensuring executives can anticipate industry changes, navigate evolving technologies, and prepare for upcoming challenges.

“Foresight and looking ahead in terms of strategy is important to innovation, because not only do you have to innovate in terms of final products, but also how you approach a particular market,” explains Eric. “It’s important to have the foresight to see the different scenarios ahead and decide how to set up a strategy that will be robust, regardless of which scenario prevails.”

With the speed of innovation increasing due to advances in technologies such as AI—64% of organizations say AI is enhancing their innovation capabilitiies, according to McKinsey—strategic foresight is becoming more important than ever.

“Another aspect is how you use artificial intelligence in your managerial processes,” Eric continues. “Executives need to be able to look ahead and have a really clear idea about how AI and other emerging technologies play out for their companies and impact their operations.”

2. Global perspective

To achieve business success on an international level, it is essential for executives to have a global perspective with an understanding of different markets, industries, countries, and cultures.

“There’s an important skill in relation to global vision, which is why we transformed our original Executive MBA into a Global Executive MBA,” says Eric.

The program is primarily based at EGADE’s campus in Mexico City, but students must complete three global residencies, including one at WP Carey School of Business at Arizona State University.

Through direct exposure to international business markets, executives can broaden their perspectives and open doors to professional networking opportunities.

“It’s important for an executive to make sense of global markets, but at the same time remain aware of the regional features they face in their local markets,” adds Eric.

3. Cross-functional leadership

Cross-functional leadership is essential across a range of industries, helping executives drive collaboration, solve complex problems, and achieve business growth. To be an effective leader, it’s incumbent upon executives to be able to bring together different elements of business, from project management to data and AI.

“A cross-functional managerial mindset is important—not only managing finance, marketing, and operations independently, but putting together all of these areas to have a unified executive strategy,” says Eric. “Soft skills are very important to make sense of all of the hard skills that executives need to know about.”

4. Speed learning

Studies show the business landscape is changing at a faster pace than ever, driven by factors such as emerging technologies, an evolving geopolitical sphere, and increasing market competition. According to Forbes, the rate of change impacting businesses rose by more than 180% in the four years preceding 2024. 

In order to keep up with the latest trends and industry shifts, executives must be able to learn quickly—leveraging the latest technology, implementing new strategies, and staying ahead of the curve.

“With changes in terms of geopolitics, technology advancement, and so on, executives need to be speed learners,” says Eric. “They should always be on the edge of learning, understanding these changes and making sense of uncertainty.”

5. Ethical values

Innovation isn’t just about using the latest technologies and achieving growth—ethical leadership is also essential, helping to build trust, create positivity, and foster a sense of responsibility.

“One of the most important skills of all is the idea of purpose and human-centered leadership,” explains Eric. “Sustainability and system thinking is important to managing companies in an ethical way.”

Implementing ethical practices is becoming increasingly important for organizations, as 68% of prospective business school students agree that a potential employers’ commitment to ethical and sustainable practices would significantly influence their decision to accept a job offer, according to the latest GMAC Prospective Students Survey.

“Leading with ethical values is something that we pay a lot of attention to within the EMBA, and we have specific courses on ethics, governance, and compliance issues,” Eric says.

“Purpose is another important part of the program,” he continues. “It’s not only about making money for their companies—it’s about having a purpose and having a real, positive impact in terms of society and the environment.”