Managing Creative Capital in the Contemporary Organization
RUNNING HEAD: Managing Creative Capital
Managing Creative Capital in the Contemporary Organization
Nizana Solognier
Saint Leo University
February 2013
1
MANAGING CREATIVE CAPITAL
2
Abstract
The competitive advantage of the successful contemporary organization lies in their ability to build tailor-made capabilities that are part of their inherent identity, making it hard for any one else to duplicate. Therefore it is essential for the organization to determine what the required capabilities are to make a difference in their business environment. This paper illustrates that if a company wants to be better than anyone else at its core business and the value it brings to its customers, they must employ professionals who are more efficient, technically proficient and creative than ever before. Not only is it essential for the organization to find the right creative talent, they should also possess the ability to engage and maintain these “company assets”, or as further referred to in this paper, the creative capital of the organization. It can be concluded that having the financial capital and strong corporate image will take the contemporary organization to a certain level of success, but in order to increase competitive advantage and survive in the dynamic operational environment of the twenty-first century it will take skilled, smart, creative and hardworking employees. The organization has to focus on attracting, engaging and retaining its creative capital. An imperative for the growth of the contemporary organization is the ability to welcome diversity and foster creativity. Managing the contemporary organization is all about putting the right people with the right skills at the right time in the right place (Harvard Business
Review OnPoint, 2012).
MANAGING CREATIVE CAPITAL
3
Managing Creative Capital in the Contemporary Organization
As humans we are confronted by dramatic changes in our environment, both in our
Managing Creative Capital in the Contemporary Organization
Nizana Solognier
Saint Leo University
February 2013
1
MANAGING CREATIVE CAPITAL
2
Abstract
The competitive advantage of the successful contemporary organization lies in their ability to build tailor-made capabilities that are part of their inherent identity, making it hard for any one else to duplicate. Therefore it is essential for the organization to determine what the required capabilities are to make a difference in their business environment. This paper illustrates that if a company wants to be better than anyone else at its core business and the value it brings to its customers, they must employ professionals who are more efficient, technically proficient and creative than ever before. Not only is it essential for the organization to find the right creative talent, they should also possess the ability to engage and maintain these “company assets”, or as further referred to in this paper, the creative capital of the organization. It can be concluded that having the financial capital and strong corporate image will take the contemporary organization to a certain level of success, but in order to increase competitive advantage and survive in the dynamic operational environment of the twenty-first century it will take skilled, smart, creative and hardworking employees. The organization has to focus on attracting, engaging and retaining its creative capital. An imperative for the growth of the contemporary organization is the ability to welcome diversity and foster creativity. Managing the contemporary organization is all about putting the right people with the right skills at the right time in the right place (Harvard Business
Review OnPoint, 2012).
MANAGING CREATIVE CAPITAL
3
Managing Creative Capital in the Contemporary Organization
As humans we are confronted by dramatic changes in our environment, both in our
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