Creating a project climate for successful product innovation

This paper reports the results of a study into leadership of new service development projects in consumer banking. A sample of UK businesses embracing both new entrants and mature incumbent players was studied. The results highlight considerable similarity in the project “micro‐climate” for successful projects. It is argued that a micro‐climate is created by appropriate leadership practices and styles. The paper highlights lessons in the organisation of innovation and the contributions of different types of leaders.