Personal development

Why Creativity in Business Matters

“I never made one of my discoveries through the process of rational thinking”

– Albert Einstein

 

Building a modern business requires grit and a great deal of creativity. Marketing a new product, or creating items or services consumers want, beckons the entrepreneur to expand and abandon traditional business models. Giant companies like Amazon, Apple, Facebook, Tesla etc, prove a creative and ever evolving business model conquers competition, drives sales, and increases consumer loyalty.

So what’s the big deal about Creativity in Business and Why does It Matter?

The simple answer – Your Success in business counts on creative thinking

Fact is, we are living in times where companies are facing major disruptions in their markets and managers are forced to respond strategically in order to remain competitive.  According to a study conducted by IBM CEOs  “believe that — more than rigor, management discipline, integrity or even vision — successfully navigating an increasing complex world will require creativity.”

Another study conducted by Forrester Consulting and Adobe also found direct correlation between a entrepreneur’s ability to create new ways to engage the market, and the success of their companies. Over half of the companies surveyed in the study showed revenue growth due to enhanced creative practices—such as hiring interesting and unorthodox employees who foster innovation, increase brand recognition, and inspire methods of production and delivery never tried before.

“Creativity is thinking up new things. Innovation is doing new things.”

— Theodore Levitt

Good Leadership Fosters Creativity –

When it comes to problem solving, creativity and leadership can have a huge effect on the  performance of a company in various. Modern company leaders who allow freedom and creativity within their workforce see incredible dividends down the road. The most successful example, Amazon’s Jeff Bezos, created Amazon in 1994 with the mantra and philosophy: “Its easier to invent the future than to predict it.” That one line says it all. Creativity in the modern era makes or breaks companies. Small business owner’s ability to diversify ideas, products, and marketing techniques determines their success rate and bottom line. But, as Amazon proves, even well established companies use evolutionary creative business models to continue to maintain and increase their market placement.

Where do we go from here?

The simple lesson:  While ancient marketing, production, and branding methods still generate revenue,  business creativity flourishes success and helps avoid stagnation which leads to the dreaded going out of business.

Further reading on importance of creativity in business

How Senior Executives Find Time to Be Creative- (Harvard Business Review)

-Your Team Is Brainstorming All Wrong- (Harvard Business Review)

-Leading others to think innovatively together: Creative leadership (The Leadership Quarterly-ScienceDirect)

 

“Creativity takes courage. ”  ― Henri Matisse

Suceeding At Your Job, Facebook vs LinkedIn, Midlife Career Change

 

When just being good at your job isn’t good enough!- “To keep succeeding in your career, you must add value to your organization through continuous learning” (more at Strategy+Business). Also, here is how a ‘Craftsman-Like Approach’ helps to achieve greater joy at work (Forbes)

Okey! This one is a little tough- Is LinkedIn the new Facebook? Or Is Facebook the new LinkedIn? Either way, the game is changing. LinkedIn has completely transformed with some added functionality some of which include “Facebook-style” timeline. Facebook on the other hand, is now helping lower-skilled worker, freelancers, and those individuals who aren’t actively looking for a job.(see The Next Web)

Well, the big question is how would jobs seekers, employers and companies benefit from all of this?  Here’s how Facebook is helping small businesses having trouble hiring (Techcrunch)  Also, here is how to make  LinkedIn work for you (Converge) And finally, when you want LinkedIn  to retain its professional integrity, and avoid getting into a noisy conversation (Business2Community)

Midlife career changes happens more often than we can imagine. But with good planning, making a big career move in your late 30s or older is possible and can be quite rewarding. Here is what you need to do to  successfully make a midlife career change- (Entrepreneur) Also,  NPR shares a few posts highlighting reasons why people consider midlife career shifts (npr.org). At some point, radical change is required. Depending on your goals, if you choose a a completely new career direction you might require a re-training to improve or acquire new skills.(More at Stuff)

Yes, you can still  change jobs when you are near retirement. But there is need to understand the pros and cons, of voluntarily changing jobs on a retirement timing. Here is how -(Market Watch)  Also, understand how a midlif e career change can have a tremendous effect on retirement planning (Globe and Mail)

‘Referral hiring isn’t great for diversity’

“We will open the book. Its pages are blank. We are going to put words on them ourselves. The book is called Opportunity and its first chapter is New Year’s Day.”  ― Edith Lovejoy Pierce

Happy New year! Happy new changes!

New Year’s Day marks a new chapter in many peoples’ lives. For a large number of employees, career related changes are among their top new year’s resolutions.

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Source-Pixabay

The title for this post was taken from an article I came across on Bloomberg- “Hiring an Employee’s Buddy Is Fueling a Major Workplace Crisis”

As a job seeker, you’ve probably heard someone explain the importance of networking and why you should network, network and keep on networking!  It’s a fact that nowadays,  getting a job is mostly about who you know and much less about what you know!

But how well does the referral hiring work?- In an article- How do social networks affect labor markets? – Ian Schmutte,  assistant professor of economics at University of Georgia, USA  explains that “Referral networks can help employers find better workers as well as help workers find better jobs. More generally, these networks can speed up the rate at which workers and firms find each other.”

So where’s the catch?  In the article, Ian Schmutte also adds that ” … networks can also be segmented along racial, ethnic, and socio-economic lines, which brings into question the effect they may have on inequality between and within different groups of workers.” Read on the full article here

Other interesting reads-

-Thinking about recommending your friend to your employer?  Here are 12 things to keep in mind. (Forbes) Also, here are tips on  How to Recommend a Friend or Colleague for a Job

-‘Bore out’- a new term i learnt the other day. It’s all about boredom at work. I read a story about a 44-year-old Parisian Frédéric Desnard, who sued a firm for being ‘bored out’ of his job. Although he held a managerial role in a perfume business, he often felt depressed and didn’t like the idea of his former employers giving him menial tasks. He is not alone. According to a BBC article, workplace boredom is a common problem in various organisations and it’s usually a major source of stress for many people.  Can you handle boredom at work? Here are a few tips on how to cope with boredom at work

-The underemployed workforce- “Any job is better than no job at all…” right? Well, yes if it is temporary. And no,  if you’ll have to permanently do certain jobs involuntarily. Who are the ‘underemployed’?  Underemployment among recent college graduates is still a problem on the rise. It’s a fact that a high number of graduates find it difficult to secure well paying jobs right after college. According to sources, many settle for ‘low skilled’ jobs which are usually “non-college” jobs. –  How to get graduate jobs

–  Goal setting and achievement- How to set your goals and how to focus on them? Here’s a concept i watched on Marie Forleo  YouTube channel