What is creativity and why is it important for businesses?

This an excerpt from my bachelor’s dissertation (references are removed to increase readability).

Modern economies are increasingly dependent on knowledge. The management guru Peter Drucker argued in 1988 that the organisation of the future will be knowledge-based and “composed largely of specialists who direct and discipline their own performance through feedback from colleagues, customers and headquarters”.

Concurrently, creativity, which is closely related to knowledge, is claimed to be an essential organisational competence. Indeed, over the last decades, innovation and creativity has become the primary engine of growth in developed economies and have replaced raw materials, labour and capital as the key sources of economic value. Florida claims human creativity has become “the decisive source of competitive advantage”.



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