Creativity in business
Publish date: 25 January 2019
Issue Number: 55
Diary: CompliNEWS
Category: General
By Lee Rossini
How often over the last few months have you stopped to think about creativity in your business? With so much going on, it is easy to find yourself on a treadmill, doing things in the same old way. Now is the time to start thinking creatively and to mix it up with new ways of doing things. Creativity leads to innovative ideas, it encourages an open mind and it can open the door to new business opportunities.
Although it is a complex topic, creativity can be loosely defined as ‘the use of imagination or original ideas to create something.’[1] In a business sense this means thinking up novel ideas; the ideas do not all have to be new and exciting as they may consist of re-imagining or updating or transforming an old or existing idea. Creativity is about a process. Once you have decided on your goals or the problems that need solving, and you have analysed all the issues, the creative process kicks in. Implement plausible and workable solutions to solve the dilemmas faced by your business. Although some people are more creative than others, everyone in your business will have something to contribute to the creative process.
How can you foster creativity and innovation in your business? Creativity should be prioritized and encouraged by senior management; they should be prepared to take some risks. To foster creativity and innovation, management and employees should be comfortable with ambiguity, periods of transition and change itself. This includes constantly evolving business goals and priorities. Management should encourage employees to think creatively and to bring their ideas to the table. Employees working at the coalface usually involves close interaction with clients and as a result, they often have very good suggestions or new and unique solutions to manage problems or disruptive trends. A business that rewards creativity shows that they value it; this inspires employees to think out the box. Management should watch out for and carefully manage employee burn-out as this has a negative impact on creativity. Quality time must be set aside to foster creative thinking.
Creativity is an essential tool to differentiate your business from those of your competitors. Besides being used to manage the challenges coming your way, a focus on creativity can be used to create a competitive edge. Creative businesses are often more successful as they offer clients a more satisfying and engaged experience. This translates into higher revenues, bigger market share and a client base which is loyal and less likely to move to your competitors. In the bigger picture, ethical creativity, where new ideas are based on putting the best interests of the client first, stands to benefit the whole society.
Set aside some quiet time to think about whether your approach to business includes being creative. A different approach is needed considering all the changes that are coming our way. Doing things in the same way is only going to give you the same result. Now is the time to recognize creativity as an important aspect of the business mix as it contributes significantly to business growth and competitiveness. Now is the time for a fresh and different way of looking at your business and to do so, a good dollop of creativity is required.
[1] Oxford Dictionary of English 3 ed (2010) Oxford University Press (accessed on 24 January 2019).