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Wednesday - 15 Jul 2020 on LinkedIn
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CEOs Must Act to Make Creative Changes

Creativity is an attribute that is natural to all human beings. Some are able to act on their creative nature and some are unable to do so. In the existing business environment expression of creativity to come up with novel solutions and innovations is an imperative. The CEO of a firm is expected to set an example to the employees of that organization. A vision statement is the first step to give shape to a dream. But a vision remains just that unless it is shared with the members of the organization. Everyone in the firm must adopt this vision and work towards the realization of that vision. They must feel rewarded and satisfied with who they are at work.

Change is the way of the world. Change can be so staggering and so compelling that people find it difficult to hold fort under its sway. But sometimes changes have to be made and those changes must work for the growth of the people in the firm. To make these changes in a creative manner is one of the most important roles of a CEO. A CEO is responsible for the growth of a firm. Firms that are focused on growth are reliant on performance and results and a strong sense of urgency is built into them. Markets and technologies are the prime areas of interest and the contours of these fields always change.

Creative change is synonymous with innovation. Innovation involves discovering and implementing what is “new”: new ideas, new practices, new technologies, new services and new models of business. A study conducted by Accenture reveals that 83% of senior executives feel that change and innovation is vital to the success of a firm. Some famous examples of success brought about through creative change are the evolution of Inkjet printing as the leader in low-end printing solutions, emergence of retailing in the domain of home furnishing, and the emergence of low-cost airlines in many countries.

CEO must have a framework within which to make changes that are truly creative and truly beneficial to the firm.

                                                                INNOVATION FRAMEWORK

                 Source and Discover Ideas > Bring Together Resources > Transform Ideas into Practices

                                                             INTERACTIVE ENVIRONMENT

The first step is to identify what is new and what can be used for the firm. All that is new need not be appropriate for the firm. It is not as easy as it sounds. Innovation requires the breaking of many preformed notions and beliefs. One way to do it is to brainstorm with the people who need the service, that is, the customers. All resources must be brought together to pool in ideas. Ideas do not mean anything without a strategy to implement them. This will require that the CEO creates an interactive environment where people can voice their thought. One study showed that 45% of CEOs felt that they were directly responsible for making creative changes. They are responsible to improve the context of change as well as to spearhead outsourcing of activities so that implementation is effective. In order to improve the context of change CEO must focus on performance management and the learning curve of the employees.

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