How can you use creativity to develop new business strategies?

One thing which i have realized in the corporate world in the prior years has been that creativity and innovation are very essential to ensure businesses success and sustainable. Businesses which are unable to creatively innovate their strategies are always bound to fail in the long term as their business strategies may become obsolete and thus not suitable and adaptable for them.

I believe that creativity is the first step for an approach that differentiates itself from the crowd and generates added value for clients. It allows me to generate innovative ideas to contextualize in a constantly changing world like that of finance and investments. Creativity is also essential to be able to adapt and find solutions that sometimes do not require major changes to be effective but just a look from a different angle.

Brainstorming, exchange, more "relaxed" meetings with different departments to receive different views/perspectives combined with the proper mindset: be & stay curious, be & stay open and with the right attitude: not too much pressure, "clear" your mind (old ideas & bias) and make space for creativity.

Being creative is essential for continued innovation as well as tailoring the product to suit consumer requirements both current and future and this is the key for making a product that is constantly delivering results.

1. Gathering business and subject knowledge to understand the requirements. 2. Use subject knowledge to develop various possible strategies using past experiences and available strategies used in industry. 3. Do not just go with what market or stakeholders suggests. Use your tools to evaluate those strategies. 4. Choose the best possible strategy for maximum benefit to the organisation. 5. Execution is very important as time and market doesn’t wait for any one. Hence time should be utilised in n a best possible way. 6. Using these steps anyone can be creative and as saying goes creativity comes from person who is most lazy.

Early in my career as a junior in business development, I faced a pivotal moment. Assigned to meet prospective clients alone, I recognized the importance of a pricing discussion. To create a favorable atmosphere, I decided to delay the negotiation until after a leisurely lunch on a warm summer day. I treated our clients to a sumptuous meal and adjusted the meeting room's temperature to encourage concise discussions. While unconventional, this strategy left a lasting impression. It highlighted the creative side of business development and the need for adaptability. This experience, while not a standard practice, taught me the value of innovative solutions when faced with unique challenges, reaffirming the dynamic nature of the field.

During my master's program, while researching innovative marketing for my scientific articles, I encountered Cirque du Soleil, a brilliant example outlined in W. Chan Kim and Renée Mauborgne's book "Blue Ocean Strategy". This extraordinary circus transformed the industry by fusing circus arts with theatre, creating a unique entertainment experience. Their innovative strategy, detailed in the book, eliminated competition, expanded their audience, and emphasized the pivotal role of creativity in shaping successful business strategies.

Only businesses with a creative capacity will grasp necessary adjustments and changes early on. If your company wants to be ahead of the game, it requires creativity to set the business strategy.

Imagine creativity as the wind in your sails as you navigate uncharted waters. It's the compass, mapmaker, and lighthouse that guides your ship through complexity, helping you chart new territories, stand out, harmonize diverse talents, and adapt to ever-changing environments. In essence, creativity is the transformative force that turns raw ideas into valuable gold, propels your business into quantum leaps, and weaves a tapestry of unforgettable customer experiences. It's the wind that sets off ripples of positive change, ensuring your business sails to new horizons and leaves a lasting legacy.

Creativity is vital in business strategies, being a catalyst for innovation, problem-solving, and employee satisfaction. A culture of creativity empowers teams to think beyond the norm, generating fresh ideas that differentiate companies from their competitors. Not only that, but it also enables staff to tackle existing problems and challenges in new, inventive ways, resulting in increased quality, reduced costs and higher customer satisfaction. Moreover, creativity contributes to a positive work environment that fosters employee engagement and satisfaction. By promoting a culture of creativity, companies can encourage employee-led innovation, facilitate organizational transformation, and promote learning.

Step outside of your comfort zone. Always be a student. Be open to criticism. Talk to someone outside of your circle. Meditate and reflect. You don’t always have to be in motion to be creative. Sometimes creativity comes from being still and looking within.

How to develop your creativity skills: Seek inspiration from various sources. Expose yourself to new ideas and perspectives by reading books, listening to podcasts, visiting museums, and exploring nature. Challenge your assumptions and biases. Ask questions and question the status quo. Be open to new possibilities. Brainstorm with others and invite feedback. Bouncing ideas off of others can help you to come up with new and innovative solutions. Experiment with different methods, tools, and formats. Try new things and don't be afraid to fail. Experimentation is essential for creativity. Use your failures and mistakes as learning opportunities. Learn from your mistakes and keep trying new things. Creativity is a process, not a destination.

In my experience creativity requires taking time. Taking time to expand your knowledge and experience, exchanging with people ideally not from your industry and experiment. Be inspired by art of all kind and practice art and sports. Creativity often manifests itself when we are bored and when we do nothing, but we only are present in the current moment.

Personally, I value creativity when it comes to understanding the emotions of the audience. The reality is that almost no one knows the hidden struggles behind your data. Unfortunately, a graph created based on advanced ML algorithms and another produced with simple Excel calculations might look the same to someone unfamiliar with your domain. What potentially matters is using your data to inspire others and prompt their next actions.

Think outside the box. As a marketer, I often deal with diverse sets of data, ranging from customer behavior patterns to market trends. Embracing creative thinking has allowed me to spot unconventional correlations, identify emerging consumer preferences, and envision innovative marketing strategies.

I use analytics a lot as an SEO Analyst. I see fluctuating numbers always and without creativity, these numbers will stay as numbers. My creativity helps me tell a story using these numbers.

Creativity can help you analyze data and information more effectively by: Recognizing patterns, trends, and insights that may otherwise remain hidden. Visualizing data in creative ways to reveal new perspectives. Interpreting data from multiple angles to generate hypotheses and questions to guide further research and analysis. Communicating your findings and recommendations in a clear and captivating manner. For examples: You can use creativity to develop new data visualization techniques that help you to identify patterns and trends that you might not have noticed before. You can use creativity to combine data from different sources to generate new insights and hypotheses. You can use creativity to tell stories with data.

Creativity is your strategic secret weapon. Use it to envision your business's future, explore unique options, evaluate with unconventional criteria, and execute with agility. It's the key to problem-solving, opportunity discovery, differentiation, and effective communication. Share your creative strategies and experiences with us!

Creativity is looking in the Box. For the solution outside. That is impinging upon a collective issue impacting us all. It’s those who can visualize walking through the library of Alexandria to see what we did or did we not loose. Creativity is the art of observation to eliminate monkey glitches that impedes the flow of humanity’s collective consciousness to obtain Homeostasis to flow forward from one generation to the next. It starts with the curiosity of a child that is encouraged not stifled. It was the elderly in the Journey that filled thy mind with wonders from stories of how they survived crossing the landscape of life to allow I to be here with all of you!

Here are some specific tips for using creativity in your business: Challenge your assumptions. Don't take things for granted. Ask yourself why things are done the way they are and if there is a better way. Be open to new ideas. Don't be afraid to try new things and to experiment. Look for inspiration in unexpected places. Inspiration can come from anywhere, so keep your mind open to new possibilities. Collaborate with others. Bouncing ideas off of other people can help you to come up with new and innovative solutions. Don't be afraid to fail. Failure is a natural part of the creative process. Don't let it discourage you from trying new things.

Learn from the masters! Literally. Salvador Dali and Andy Warhol both used their creativity not only as artists, but also as businessmen. Dali's moustache remains as iconic today as his dripping clocks, and Warhol is selling more prints than 90% of Insta influencers. Why? Here's my theory: they shared a clear understanding of their personal values and strengths, and of what they wished to achieve (in business speak, brand values, core competencies and goals). They also had the intellectual flexibility and emotional strength to detach from their art, take stock and go back to the drawing board when needed. Creativity does the same in business: it allows playfulness and exploration without severing the red thread keeping the whole together.

Thinking "outside the box" is dated and dangerously "blah." Creative thinkers drive innovation in all industries by demolishing the box and constructing a successful, inclusive, and profitable polygon capable of organic change and expedient scaling.

In case of ISRO , the development of strategy was based on developing a shared Vision, a mission and then fixing the goals and programmes as shared by Dr Kalam when he took over DRDL as director . He gave credit to great persons and scientists Dr Vikram Sarabhai and DrSatish Dhawan. Whom he always considered the mentors. Dr Kalam followed the same philosophy when he led DRDO.

Here are a few more thoughts on creativity: Creativity is not just for artists and musicians. Creativity can be used in all aspects of our lives, from business to parenting to personal relationships. Creativity is a skill that can be learned and developed. There are many resources available to help us boost our creativity, such as books, articles, and workshops. Creativity is essential for innovation. Innovation is the driving force behind human progress. Without creativity, we would not have new technologies, new products, or new ideas. Creativity is fun! Using our creativity can be a rewarding and enjoyable experience. It can help us to express ourselves, to connect with others, and to make a difference in the world.