Definition of organisational capital

Managing Organisational Creativity–M.S. Srinivasan  October 16, 2016 – 05:13 pm
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[Published in The Management Accountant, Journal of the Institute of Cost and Works Accountant of India, Mar 2012]

The future belongs to the creatives.  In the emerging and future world of business, competitive advantage depends not on capital, not even on technology, information or knowledge but on creativity and innovation.  Those companies which are able to harness the creative and innovate energies of its people will be the leaders of the future.  How to do this at a collective or organizational level?   This question is one of the current debates in management.  This essay examines this question based on some of the latest studies and research on the subject and also on the Indian spiritual perspective and practices on creativity.

Tap ideas from all ranks

Invite ideas from all the levels of the organizational hierarchy and tap the creative potential of the whole organization.  Don’t depend on a few elite or “superstar” creatives.  This requires genuine empowerment of the front-line workers.  Recent research shows that giving complete autonomy and encouragement to the initiatives of workers at the lower level has enormous advantage.  For example, Google’s founders tracked the progress of ideas that they had backed versus ideas that had been executed in the ranks without support from above, and discovered a higher success rate in the latter category. Similarly, it was noted that Philip Rosedale, the founder and chairman of Linden Lab, the fast-growing company that manages Second Life, says the greatest successes come from workers’ own initiatives. (1)

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