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Creative cultures and revenue, connecting the dots

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Pratima Harigunani
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NEW DELHI, INDIA: Companies that foster creativity achieve exceptional revenue growth than peers. About 58 per cent of a recent survey's respondents said firms that foster creativity had 2013 revenues exceeding their 2012 revenues by 10 per cent or more.

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In contrast, only 20 per cent of less creative companies performed similarly. Adobe has released this new research, a commissioned study conducted by Forrester Consulting on behalf of Adobe, that aims to quantify one of the great intangibles in global business: creativity. The Creative Dividend survey shows that what makes a company succeed — the ability to foster innovation; develop exceptional talent and leadership; and a high degree of brand recognition — is influenced by its creative perspective, practices and culture. But does creativity also impact the bottom line, and do companies experience more business success because they foster creativity?

Through this research, Adobe concludes that creativity is essential to current and future business success. Another key finding indicates that more creative companies enjoy greater market share and competitive leadership. Creative companies are more likely to report a commanding market leadership position with a higher market share than competitors. Of those reporting market share leadership, creative companies outnumber their less creative counterparts by a factor of 1.5 per cent. Despite the perceived benefits of creativity, 61 per cent of companies do not see their companies as creative.

Only 11 per cent said their practices were perfectly aligned with firms readily recognized as creative. The majority (51 per cent) said they were neutral or not aligned with creative firms, and 10 per cent felt their practices were, in fact, the opposite of what creative companies do. Creative companies also win recognition as a best place to work. A positive employee work environment is a fertile breeding ground for creativity.

Some 69 per cent of creative firms also reported winning awards and national recognition for being a “best place to work.” Just 27 per cent of less creative companies achieved similar accolades.