Tag Archive: Marketing

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

“Does Donald Trump’s election as United States president mean that globalization is dead, or are reports of the process’ demise greatly exaggerated?”

The title of this post is from Project Syndicate with Barry Eichengreen, a Professor of Economics at the University of California, Berkeley, who wrote an interesting article on the condition of globalization and the world trade growth even without Trump in office- Globalization’s Last Gasp.

So what’s the deal with globalization? Is it here to stay?

I’ve personally come across articles with claims and opinions citing experts about why globalization is said to be dead. Other experts  have a different opinion on the matter. See for example- Globalization is alive and well.

Weekend Reads

  • Meet the marketing genius behind Snap’s new Spectacles-(Read on Recode)
  • Truth be told- Many companies still struggle with the idea of dealing and responding to a cyber attack. However, industry leaders such as  IBM, wants to train corporate security teams, CEOs, and PR departments to handle Cyber Attacks- (Read on Bloomberg)
  • How is the driverless car a great opportunity for healthcare? You guessed it right! The autonomous car is not just here to carry you to your destination. It can do more than that. For example the future Mercedes Benz– (Read on LinkedIn)
  • What is Zara’s secret recipe to success? In an article by Bloomberg, “Zara’s culture isn’t as easily copied as the latest fashion trends.” This is one of the reasons why Inditex, its parent company, is more successful than it’s competitors such as American Apparel, Gap and  H&M. (Read on Bloomberg)
  • Thinking about quitting your job? Here are 10 things you need to keep in mind about quitting your job- (Read on Forbes)

And how about you? What are you currently reading? Please share in the comments section below. I’d love to read from you.

Have a nice weekend!