Thank you for Subscribing to CIO Applications Weekly Brief
Enterprises Focus on Creativity Outperform Less Creative Counterparts
The Creative Enterprise study polled over 3,600 companies with at least $100 million in annual revenue and compared businesses that report being driven by creativity to those that prioritize efficiency.
Fremont, CA: Tenovos, providers of the modern, data-first Digital Asset Management (DAM) platform that helps brands tell meaningful stories, announced today the findings of new research indicating that enterprises that prioritize creativity outperform their less creative counterparts. The Creative Enterprise study polled over 3,600 companies with at least $100 million in annual revenue and compared businesses that report being driven by creativity to those that prioritize efficiency. The findings revealed clear trends demonstrating a direct positive correlation between a focus on creativity and favorable overall top-line growth, customer loyalty, profitability, as well as employee morale.
In fact, 100 percent of respondents said that when their business is performing well, creativity materially improves top-line growth. Furthermore, when their company is performing at its best, 100 percent of respondents said that creativity bolsters customer loyalty and increases overall profitability.
In addition, 97 percent of respondents said that creativity boosts morale throughout the organization. The near-unanimity of the data points above excludes those respondents who chose not to answer the question (14 percent of all respondents) because their organization could not measure the impact.
Despite the fact that most businesses recognize the enormously positive impact of creativity on the enterprise, most businesses do not prioritize creativity throughout their organization. In fact, 86 percent of people today prioritize or optimize for efficiency over creativity.
"The data speaks for itself. There's no question that enterprises that have creativity as a foundational pillar to their business perform better overall," stated D. Scott Bowen, CEO of Tenovos. "It speaks to the tremendous opportunity organizations have to grow and improve across categories by making creativity a strategic focus. Efficiency is a foundational operating principle, but it is creativity that will align your business and your organization with your mission."