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Creativity impacts business results

Anuradha Shukla | Oct. 3, 2014
Adobe research shows creative companies improves revenue and market share.

Creative companies have greater market share and enjoy competitive leadership.

A May 2014 global study conducted by Forrester Consulting on behalf of Adobe indicates that success of a company is influenced by its creative perspective, practices, and culture.

58 percent of respondents said their firms' foster creativity had 2013 revenues exceeding their 2012 revenues by 10% or more. 20% of less creative companies performed similarly.

Creative companies outnumber their less creative counterparts by a factor of 1.5 in terms of market share.

"Leading companies recognize the need to infuse creativity into all aspects of the business environment - from strategy and culture, to innovation and customer engagement," said David Wadhwani, senior vice president, Digital Media at Adobe. "And creative companies are 50% more likely to report a commanding market leadership position over competitors."

Awards and recognition

69% of creative firms won awards and national recognition for being a "best place to work." 27% of less creative companies achieved similar accolades.

61% of the companies don't see their organizations as creative and only 11% said their practices were perfectly aligned with firms readily recognized as creative.

51% were neutral or not aligned with creative firms, and 10% said their practices were the opposite of what creative companies do.

Paul Robson, president, Asia Pacific, Adobe advises businesses to incorporate creativity as a key organizational key performance indicator (KPI), on par with revenues and brand equity, as a measure of success.

"Businesses across Asia Pacific have embraced the shift towards a knowledge-based economy; those which focus only on efficiency and pricing will eventually reach a glass ceiling, while those which embrace and foster creativity and innovation will lead the way," said Robson.

 

 

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