New Creativity Research Report: Does Creativity Matter?

New research conducted by Forrester Consulting for Adobe asking whether creativity matters to businesses shows that “Companies Embracing Creativity Outperform Peers in Revenue, Market Share and Competitive Leadership”.

Key findings from the research are:

“Companies that foster creativity achieve exceptional revenue growth than peers.Fifty-eight percent of survey respondents said firms that foster creativity had 2013 revenues exceeding their 2012 revenues by 10 percent or more. In contrast, only 20 percent of less creative companies performed similarly.

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 percent.

Despite the perceived benefits of creativity, 61 percent of companies do not see their companies as creative. Only eleven percent said their practices were perfectly aligned with firms readily recognized as creative. The majority (51 percent) said they were neutral or not aligned with creative firms, and 10 percent felt their practices were, in fact, the opposite of what creative companies do.

Creative companies win recognition as a best place to work. A positive employee work environment is a fertile breeding ground for creativity. Sixty-nine percent of creative firms also reported winning awards and national recognition for being a “best place to work.” Just 27 percent of less creative companies achieved similar accolades”

You can download the full research report.