A CEO friend of ours recently complained about the difficulty of keeping creativity alive in his business during this difficult period. He had previously cut back on "discretionary" spending—such as development of new products and marketing plans—in order to survive the Great Recession, and he hasn't yet seen his company's revenues bounce back enough to invest heavily in future growth.
We told him he was nuts—that creativity is even more important in times when sales are harder to come by and customers are less loyal. We also told him that two separate research studies (one by Bain, the other by Booz Allen) showed long ago that market share gains made during bad times are more likely to stick than those made during growth periods. Despite our scolding, he still felt he couldn't afford to invest more resources to foster creativity, and simply had to get more from what little resources he had. So, could we help him or not?
To read the full, original article click on this link: Getting the Best Out of Your Creative People - BusinessWeek
Author: Kevin and Shawn Coyne
