A creative economy is such an economic system which is based on people using their creativity and ingenuity to increase the value of an idea. This concept was developed in the year 2001 where worth is based on new qualities than the conventional land, employment, and resources.
So how does creativity benefit the economy?
Imagination and creativity
Imagination and creativity help inspire new ideas which, in turn, form the basis for the progress of the economy. But is it whimsical to value creativity in this day and age? In the twenty-first century?
The global economy is uncertain, it has its ups and downs and it is this sort of progress, which is innovative in nature, that creates jobs and benefits the society globally. This emphasizes on the fact that there is a need for creativity now, more than ever. This is the sort of hidden motivation that helps us take another step forward in the right direction.
It is creativity and out of the box ideas that make businesses stay afloat in this economy. If you own a business or co-own it, you need to flexible and open to all sorts of innovative suggestions which help solve a host of problems. Because, practically speaking, owning a business isn’t easy and comes with its own set of challenges.
Keep the business afloat
It is these ground-breaking ideas and thoughts that help keep the business afloat in this indecisive economy. These viewpoints help to understand what customers like and what makes them happy, therefore resulting in a steady stream of clients. Take the example of Google; it hires interns right from universities all over the world. This results in fresh ideas, thinking and thoughts across different cultures, therefore, making it one of the best and successful companies in the world.
Creativity and new ideas can also keep the business extremely competitive. Competitions make or break a business. Razor sharp competition among business helps them be always on their toes and keep a lookout for new and more ways to lure in customers, therefore increasing the value of their product.
Those enterprises that give emphasis to creativity become influential in their domain since they are never satisfied with the status quo and are constantly discovering new solutions and ideas.
Create entirely new industries
On a much bigger scale, creativity holds the control to create entirely new industries. Take into consideration the bio-medical as well as the alternative energy industries. Professions are being created in response to the growing demand for the innovations from these new and fast-growing industries and it is because of this reason that new electives and majors are being introduced in colleges and universities, therefore expanding the scope of education. If it weren’t for the creativity that created these industries, these jobs would not exist today and so many new inventions, beneficial to the society as well as the environment would not have been created, resulting in a major loss.
Let us never lose sight that today’s creativity and ingenuity create tomorrow’s industries.