Skip to content

Improve your creativity or lose your job

The economy upon which companies and employees have built their future has changed. The creative economy requires that you improve your creativity or lose your job Just do a quick comparison of market capitalization to book value for public U.S. companies over the last two decades.  There is a drama

Phil McKinney
Phil McKinney
1 min read
improve your creativity

The economy upon which companies and employees have built their future has changed. The creative economy requires that you improve your creativity or lose your job

Just do a quick comparison of market capitalization to book value for public U.S. companies over the last two decades.  There is a dramatic rise in value attributed to intangibles – ideas, innovations, intellectual capital, etc.  In 1978, book value averaged 95% of the market cap – machinery, buildings, etc.  Today, the book value makes up 28% of the market cap. That means that 72% of the value attributed to companies is now coming from intangibles.

The value attributed to such things as intellectual capital is evidence of the transition we are experiencing to the creative economy which requires different skills from its workers.  It places a higher premium on creativity and the ability to translate the ideas generated into meaningful innovations.  A well-known formulation of this argument comes from Robert Reich, who argues that the economic well-being of any country now depends on the creativity of its workers rather than the profitability of its corporations.

The economic well-being of a country depends on the creativity of its workers rather than a company's profitability.

In this new world, wealth creation is dependent on continually being able to create new ideas.  Workers who have embraced this creative economy by improving their innovation skills earn an average of $20,000 a year more than other workers. So you better get started and improve your creativity.

A Conference Board survey of CEO’s found that creativity is growing in importance (97%).  To reinforce this point, these same CEO’s said:



“they prefer the creative employee over the technically skilled one” 63% of the time.

Do you have the creative skills to succeed?

BlogCareercreative economycreative employeecreative skillcreativityimprove your creativityinnovation economyinnovation skillmeaningful innovations

Phil McKinney Twitter

Phil McKinney is an innovator, podcaster, author, and speaker. He is the retired CTO of HP. Phil's book, Beyond The Obvious, shares his expertise and lessons learned on innovation and creativity.

Comments


Related Posts

Members Public

The Imperfect Pursuit of Balance

Why is finding balance so hard? Pursuing balance requires reflection, prioritization, and embracing imperfection. Discover how to prioritize what's truly important in life and embrace imperfection.

The Imperfect Pursuit of Balance
Members Public

Is Boredom the Silent Muse?

Unlock creativity through boredom? Our fast-paced lives fear silence, but stillness may be the key to focus and innovation. What should you do? Embrace boredom, reclaim your attention, and unlock your full potential.

A man walkin the woods deep in thought
Members Public

How to Manage Cognitive Load and Optimize Your Thinking

Did you know your brain can overload like a computer with too many tabs open? This phenomenon, termed 'cognitive load,' can decrease focus, retention, and overall performance.

Image of a brain that overloaded. AI Generated.