We are continuing to explore different success factors across business and entrepreneurship space. Several recent research found surprisingly strong statistical correlation between creativity and business success.

In current environment where disruptive technologies and shifting customer expectations have rendered traditional business models obsolete, creativity emerges as a key differentiator that enables companies to innovate and adapt to these changes effectively. Creativity is not an innate talent possessed by a select few, but rather a skill that can be nurtured and developed within organizations.

Most creative companies found are performed better than peer firms on three key measures:

• 67 percent had above-average organic revenue growth.
  
• 70 percent had above-average total return to shareholders (TRS).
  
• 74 percent had above-average net enterprise value or NEV/forward EBITDA

Here are the numbers that support that statement:

There are three key levers that winning companies use to turn creativity into tangible business value.

• The first lever is fostering a culture of creativity within the organization. This involves creating an environment where employees feel empowered to think outside the box, take risks, and challenge the status quo. Company's leadership in setting the tone for creativity and providing the necessary resources and support to encourage creative thinking.
  
• The second lever is integrating creativity into the company's strategy and operations. This means embedding creativity into every aspect of the business, from product development and marketing to customer experience and organizational processes. Multiple companies have successfully incorporated creativity into their strategies, such as Apple's emphasis on design and user experience, and Nike's focus on innovation in athletic footwear.
  
• The third lever is leveraging technology to enable and enhance creativity. Technology can be a powerful enabler of creativity, providing tools and platforms that facilitate collaboration, experimentation, and idea generation. It is important to keep investing in digital capabilities and leveraging data analytics to gain insights that drive creative decision-making.

Of course, there are a number of common challenges that companies face when trying to harness creativity. These challenges include resistance to change, risk aversion, and a lack of diversity and inclusion. However, creating cross-functional teams, fostering a learning mindset, and embracing diversity of perspectives obviously can help to overcome those

We hope this information and insights will help your organization to become more creative and therefore, more successful!