Tag Archive: Strategy

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

The Debate about Gender Equality Is Far From Over!

I was surprised when i read about Saatchi & Saatchi chairman Kevin Roberts thoughts on gender diversity. Roberts told Business Insider that didn’t think the lack of women in leadership roles was a problem in the advertising industry, and that the debate on Gender inequality in his industry was ‘over.’ -Oh Really?!

Well, according to sources, he stepped down after sparking the roar, and later apologized for his comments. (Read more on The Guardian)

Apology accepted! But i must confess that i didn’t expect that from such a high profile man!

I’m also tempted to ask – Why on earth would he say such a thing? And how many more agree with him?

Certainly not  US President, Barack Obama who publicly called himself a feminist. How awesome!

 

Or  Canada’s prime minister Justin Trudeau who understands what it’s like to be living in the 21 century!

 

There’s an excellent report by McKinsey on “How advancing women’s equality can add $12 trillion to global growth” which explains in depth why the public, private, and social sectors will need to work on closing  gender gaps in work and society. (Read all about it here)

On a separate article, “A CEO’s guide to gender equality“-McKinsey highlights why progress towards gender equality is so slow.

Big as the prize may be, gender equality still eludes companies around the globe. Despite modest improvements in the past few years, women are underrepresented at every level in the corporate pipeline—especially the senior level

The guide offers a solution for  executives to think about pressing forward with their own gender initiatives. Read on here