“Now we’re selling experiences, and those experiences need to be well-designed,” Marion says. Public Health Careers: What Can You Do With a Master’s Degree? Creativity in business is a crucial first step that needs to be prioritized by senior leadership. Find out the steps you need to take to apply to your desired program. #mc_embed_signup{background:#fff; clear:left; font:14px Helvetica,Arial,sans-serif; } Hello! Best Practice Consulting, an organizational consulting firm, explains three key benefits. The more creativity we cultivate, the more we all benefit, both personally and as a society. It doesn't matter if we're talking about developing a new strategy or an innovative way to stay ahead of the competition. /* Add your own Mailchimp form style overrides in your site stylesheet or in this style block. The “right” people in this context aren’t solely creatives. Creativity and its importance in business points to four main creative strengths that can be taught: Fluency: Coming up with more than one idea along the same topic or theme. Several retailers, like Apple, are trying to rise to the challenge by creating “experiences.” Take Starbucks, for example. At Northeastern, faculty and students collaborate in our more than 30 federally funded research centers, tackling some of the biggest challenges in health, security, and sustainability. “Not everyone is going to be creative, but most people can learn the tools and techniques for being innovative,” Marion says. We offer a variety of resources, including scholarships and assistantships. “If you’re looking at an iPhone versus a Samsung, at the outset, they’re very similar. If you want to keep your business moving forward, creativity is essential. Integrating Creativity and Strategic Business Practices in Entrepreneurship. Just because someone is first to market with a feature doesn’t mean they’re more creative. A study by Adobe and Forrester Consulting found that 82 percent of companies believe there is a strong connection between creativity and business … (McKinsey). The chain recently announced plans for how it’s reimagining its more than 1,800 stores. “Creativity is essential in business because it’s a differentiator,” says Tucker Marion, an associate professor in Northeastern University’s D’Amore-McKim School of Business and director of the Master of Science in Innovation program. */. Your business can’t lose with creativity on its side. Global conglomerate Tata gives out a “Dare to Try” award to employees with the “most novel, daring, and seriously attempted ideas that did not achieve the desired results,” while Google’s innovation lab, X, offers bonuses to each team member who worked on a project the company ultimately decided to kill as soon as evidence suggested it wouldn’t scale. Organizations today operate in a highly competitive, global environment, making creativity crucial. Creativity will always make your employees want to learn more by seeking multiple options, ideas, and solutions for the business. This ultimately attracts more employees and retain quality workers. The brand has become one other companies mirror their strategy after. Taking “no” off the table ensures all ideas are heard. simply flashing the Apple logo can inspire people to be more creative, companies who have excelled at creating a culture of creativity, Use contract management to get value. By observing and interviewing tens of employees, they found that creativity is an important element of employees' everyday practices. Companies that reward creativity show they value it, inspiring individuals within the organization to pursue untested theories and concepts. The benefits of creativity can be life changing (they have been for me! But once you start digging, there’s more creativity in the iPhone. Take facial recognition, for example: It’s a seamless user experience. Creativity is different because creativity is a mechanism to being innovative. Customers visit for more than the seasonal beverages; they go for the ambiance. According to a survey by Forrester Consulting, the answer is… very! Why? Design and the user experience mean a lot to overall creativity of a feature or service.”. Creativity needs to be prioritized—and for good reason, reminds Marion. the rewards. One method for spurring creative brainstorming is trying a technique used in improvisational theater: “Yes, and…” The approach encourages colleagues to build off their peers’ thoughts by first agreeing and then adding something to the discussion. Eighty-two percent of executives surveyed by Forrester agree that companies benefit from creativity. Creativity is no longer a side dish for businesses; indeed there are an increasing amount of studies that have found whatever the vocation of the company, introducing creativity into the workplace has a number of benefits. Is It Time to Renegotiate Your Supply Contracts. Master’s in Project Management or an MBA: What’s the Difference? It’s why 58 percent of respondents said they set goals around creative outcomes, and why … “Every industry is being challenged by dynamics globally and changes in technology,” Marion says. We’ve made a list of […] Has Procurement REALLY Evolved Beyond Saving Money? 7 Business Careers You Can Pursue with a Global Studies Degree. Many companies boast about being innovative and creative, and most are in some way, shape or form. The second entrance will bring customers to the store’s other beauty, fashion, home, and electronics displays. Plus receive relevant career tips and grad school advice. Among those benefits include increased revenue and greater market share. Because, “Companies who are creative are more successful,” Marion says. They also had greater market share and were able to attract talent in the form of competitive leadership. It’s why 58 percent of respondents said they set goals around creative outcomes, and why another 48 percent claim to fund new ideas spun out of creative brainstorming. Eighty-two percent of executives surveyed by Forrester agree that companies benefit from creativity. Here are five ways you can foster creativity within your own team: Not every idea will be a success, but big breakthroughs won’t occur if the company plays it safe. … Apple is a company synonymous with creativity. “There are a lot of competencies that go into realizing an innovation. There’s just one major disconnect: Despite the perceived benefits, 61 percent of executives don’t actually see their companies as creative.