Newsletter – How to turn creativity into shareholder value
The last month seems to have passed very quickly and Summer seems to be fading into the past. On the plus side, there are fewer distractions so what have you been up to?
I tinkered with the soft skills training that I mentioned last month and have seen an improvement. So if you know of anybody that is looking for soft skills training such as Presentation Skills, Attention Management, Assertiveness etc with a creative twist and lots of fun then please point them in my direction. Oh, and please don’t forget the Creativity and Innovation stuff that I do too.
I have just returned from the Inspire 2018, the Professional Speaking Association annual conference. My head is filled with ideas that I need to turn into real possibilities so watch this space …..
I don’t think that I am a recycling fanatic, I just like to make sure that as little as possible gets buried in a big hole in the ground. But why is it that we can recycle metals, plastics, cloth etc but we still throw huge amounts of food into landfill? Being organic it can be used for fertiliser, It can also be used to ‘brew’ alcohol which could be used to power vehicles.
So how can we make sure that we get some value out of Creativity? After all, it is really only playing on bean bags with brightly coloured pens, isn’t it?
Well, to be completely honest I do sometimes do some of the stuff with pens, Lego and Play Doh. But really Creativity in a business context is about thinking differently.
This leads to different solutions to business issues as well as new products and services that nobody else has thought about. Competitive advantage, sustainability – call it what you like. It has to be good.
Superior performance is associated with Creativity according to Consulting company McKinsey. In particular, 67 percent of companies surveyed had above-average organic revenue growth. 70 percent had an above-average total return to shareholders.
McKinsey also identified four practices associated with Creativity and Innovation.
- Hardwire creativity and innovation in daily practices. As obvious as it may sound, creativity and innovation need to be business priorities.
- Become customer fanatics. Companies who rank highly have an almost fanatical devotion to understanding their customers and use many tools to understand their requirements.
- Feed the need for speed. Speed may be the defining attribute of modern businesses and companies at the top of their game are quicker at translating ideas and insights into action.
- Adapt or die. The top companies showed an ability to adapt, some actually expanding under adverse circumstances.
I can hear people saying ‘its easy for you to say’. Well, I have helped companies embrace and make use of Creativity in a variety of situations. Please get in touch if you would like to know more.
Please do get in touch or provide feedback by replying to this newsletter, or using any of the contact methods listed on the website derekcheshire.com.
Can I help you to find the difference that makes the difference?
Derek is a Fellow of the RSA, a speaker, facilitator, award-winning radio presenter and Adjunct Professor at VIT University, Chennai. He has been working in the field of Business Creativity and Innovation since 2002.