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Abstract
With the increasing competition, it is imperative for organizations to bring about managerial innovation and focus on managerial effectiveness. Studies indicate that only 27% of success at work is contributed by an employee's Intelligence Quotient, the rest of it being contributed by Emotional Intelligence. This paper attempts to study the role of Emotional Intelligence in Managerial Innovation and Effectiveness. The results of the study indicate a positive correlation between Emotional Intelligence and Managerial Innovation and Managerial Effectiveness implying thereby that Emotional Intelligence should be an integral part of an organization's recruitment and developmental process. Keywords: Managerial innovations, managerial effectiveness, intelligence quotient, emotional intelligence Introduction

In the dynamic world of rapid technological development and intensifying global competition, it has been seen that organizational imperatives change from efficiency to adaptability, with major implications for how our corporations are organized and managed. Increasingly, today?s corporations see themselves as having to become more inventive in all aspects of their operations and management, if they are to survive and thrive in the new economy (Leavy, 2002). In an environment where product quality is regarded as an inherent component of marketing, product innovations become the only factor that can gain a competitive edge. Previously, structured and fixed corporate procedures, processes, and job descriptions discouraged the development of creative thinking in many organizations. However, the necessity to produce innovative products forces corporate planners to integrate the creative process across the full range of the organizational structure. A growing number of executives believe that creativity can come from anywhere within the company, including technicians, accounting specialists, and secretaries. At Clorox, R&D encompasses all aspects of its various departments. At the Global Advanced HVAC Innovation division of General Motors, department manager Den Black encourages creative thinking by establishing an ?innovation council,? which consists of volunteers from different departments. Pointers in creating an idea-friendly culture include giving employees? freedom to fail, giving them opportunities to ask ?silly? questions, and providing them with management support. Employees should also be trained on their potential to think creatively (Caudron, 1998). Although in this effort to excel and produce the best in this era of competition, somewhere the corporate world has been very mechanistic, consequently neglecting the softer aspects of the human resource of the organization. Emotional Intelligence

The term ?emotional intelligence? was first coined by Peter Salovey and John Mayer (1990). They carried out comprehensive tests to establish EI as a genuine intelligence, based on the theoretical concept and definition of intelligence. Their goal was to produce a test that measured EI in a similar manner as IQ and the Wechsler Adult Intelligence Scales. Recently, Salovey and Mayer (1990) have succeeded in producing a norm-tested EQ scale. They postulated that EI is made up of four branches: managing and regulating emotion, understanding and reasoning about emotion, assimilating basic emotional experiences, and perceiving and appraising emotion. In Working with Emotional Intelligence, Goleman (1998) applies the emotional intelligence concept to the workplace environment. In this analysis, he argues that the emotionally intelligent worker is skilled in two areas, which he presents in his emotional competence framework. These are ?personal competence? (how we manage ourselves), and ?social competence? (how we manage relationships). Each broad area consists of a number of specific competencies. Emotional Intelligence plays an important role in helping organizational leaders make good decisions about new products, markets,...
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