The IBM 2010 Global CEO study revealed a very interesting and notable result that can change the world for the better.
A total of 1500 CEOs participate in the survey from 60 nations in 33 industries worldwide. The poll revealed that less than half of their executives surveyed felt that they or their businesses can successfully handle the growing complexity caused by the changes in global economic power centers, hastened industry transformation, increasing volumes of information, and rapidly evolving customer tastes.
The CEOs seem to believe more than rigor, management discipline, integrity, or even dreams are needed to equip them and their enterprises because of this growing complexity. The only skill that could browse the business in an ever-increasing complex world and business is CREATIVITY and this has been recognized as the number one leadership competency now and in the future.
The poll is crucial evidence that the planet is entering a new age where creativity is becoming increasingly more important. This finding also indicates that there’s a need to find innovative strategies to manage a company’s structure, finances, people, and strategy, and that old business models can’t offer all of the solutions a business needs to stay competitive, profitable, and sustainable. Read also TPP and dairy industry.
A challenge nonetheless exists…
The challenge would be the attitude, fear, and perceptions people have towards the imagination. People associate creativity with a particular personality or genius of a person, others see it as a specific thinking style (correct brain led thinking) and some view it that people are simply born artistic. So, defining and understanding originality can be debatable. The concept that imagination is a predetermined personality characteristic appeals at a psychological level since it gives people an explanation for not innovating or initiating change themselves, reducing the problem of creativity to a recruiting challenge. This makes creativity in business a scarce commodity. But this can no longer be approved.
So what can business leaders do today?
This article aims to give an interim solution. The article will first clarify the link between imagination and innovation and then show how innovation and creativity can be implemented at work.
The link between creativity and innovation
In literature, various definitions exist to spell out the conditions of creativity and innovation. For this article, creativity can be defined as a psychological and social process involving the discovery of new associations of ideas or theories which is fuelled by the process of either conscious or unconscious insight.
Three items are needed for creativity:
Resources – knowledge, experience, and access to information.
Creative thinking – an individual’s capacity to think outside the box and put existing ideas together in new combinations.
Internal motivation – inspiration from inside; an individual’s personal needs and fire to be creative.
There are three main aspects to be aware of:
Creativity discards preconceived assumptions.
A Creative person attempts a new approach or method which may seem unthinkable to others.
Creativity requires divergent thinking (generating many unique thoughts ) and convergent thinking (mixing those notions to the best outcome ). Creativity is not only a right-brain directed believing strategy but a whole-brain approach.
In business, creativity is required for innovation. Innovation is the process of generating and applying creative thoughts in some particular context. To put it differently, innovation involves the addition of something new and beneficial – an artifact or a strategy – to a working production, marketing, or management strategy like the Alberta labor union.
Three factors specify a company’s strengths and weaknesses of the creation process, namely:
Exactly what a company has (the Value of funds ),
How a company does its work (the Value of processes), and
What a firm wants to perform (the companies’ worth ).
It’s important to note There Are two phases in the process of innovation, namely:
An invention that consists of idea generation, idea analysis and opportunity recognition (imagination ), and
Exploitation is composed of growth and commercialization (innovation).
Innovation is connected with behaviors, activities, and personalities of the individuals, or actors, engaged in the creation and exploitation steps.
Implementing creativity and innovation in the workplace
Creativity is your basis for disruptive innovation and continuous reinvention required from the volatile, uncertain, and complex business environment and begins with”creative thinking” leadership. Business leaders will need to motivate others to drop outdated approaches and take balanced dangers. They will need to embrace ambiguity by exemplifying breakthrough thinking. Business leaders will need to lead and interact in new ways, shedding long-held beliefs and business versions when required, challenging the status quo, be different and revolutionary and search for answers that will not become tomorrow’s issues.
Business leaders will want to foster cultures of authentic creativity and invention. This can be done by ensuring that associations meet people’s core needs, namely physical needs, emotional needs, mental needs, and religious demands according to Schwartz (2010:1). This is the key to creativity. The more individuals are preoccupied with unmet needs; the more energy they will bring to their work and the less creative they will be.
Creativity could be taught and business leaders should put in the effort to teach creativity systematically to employees. Business leaders can utilize a six-step strategy to teach their employees to be creative and innovative. These six measures are a blend of Plsek’s Directed Creativity Cycle created in 1992 and Luecke and Katz’s Innovation version of 2003 (Cropley 2008:271). The first four measures involve creativity and also the last two steps involve innovation. Also, read about Alberta labour union and TPP and dairy industry.