Creative Strategy and
the Creative Economy
August 17, 2023 | CREATIVE ECONOMY, CREATIVE STRATEGY, CREATIVE INDUSTRYLast month, we explored creative strategy and how Canadian ticketing platform, Showpass, used creative strategy to adapt to the uncertainty of the pandemic and foster creativity and innovation to benefit their operations. In this blog, we’ll discuss why creative strategy is important for the broader creative economy!
Looking at the creative economy* in terms of creative industries, creative talent, and creative occupations, we see various ways that creative strategy can play a role in the broader creative economy:
Creative industries have the potential to contribute to a diversified economy and job creation (have you taken a look at Calgary’s Film, TV, and interactive media industry recently?). The economic potential points to why creative strategy is so important within creative industries, as it drives the production of novel products, unique narratives, and innovative business models.
Creative Industries
At the heart of the creative economy lie creative industries, which generate a large swath of creative outputs as well as substantial economic value. These industries, such as film, TV, interactive media, and more, not only showcase creativity in their products but also extensively utilize creative talent in their processes.
Creative talent thrives on generating novel outcomes without predetermined instructions. It's the difference between assembly line work in a car factory and envisioning a groundbreaking vehicle design. The power of creative talent lies in its ability to inject a unique edge into products and services, enabling organizations to stand out in competitive markets. This type of talent is underpinned by skills such as critical thinking, creative problem-solving, and the ability to envision what has not been seen before.
Creative Talent
A strategic approach that nurtures and harnesses creative talent is essential for businesses aiming to stay ahead in a constantly evolving economy.
The creative economy transcends the boundaries of specific industries. Creative talent is employed across various sectors, giving rise to what are known as creative occupations. These roles are characterized by solving problems in novel ways, creating work that cannot be mechanized, and contributing creatively to value chains. Think of photographers, graphic designers, and content writers who elevate businesses of all stripes through visual storytelling and branding.
Creative Occupations
This reinforces the idea that, like creativity, creative strategy isn't confined to particular domains; its principles are essential across diverse fields to foster innovation and enhance overall economic vibrancy. This supports the creative economy by showcasing how creative talent and occupations can bring additional strategic value to other industries.
Thread of the Creative Economy
Connection to Creative Strategy
The Role of Creative Strategy: Stitching Threads into a Vibrant Economy
The fabric of the creative economy is intricately woven from the threads of creative industries, talent, and occupations. Creative Strategy can be used as a means of maximizing the innovative capability inherent in these threads. As mentioned in our previous blog, creative strategy is developing a plan to get from point A to point B, but with an intentional emphasis on unique, innovative and creative ways to tackle problems and bridge point A and point B—you can see how the need for creative talent and the corresponding skills become integral.
MANY businesses had to implement creative strategy in a haphazard way while responding to the ever-changing situation of the pandemic. A well-defined creative strategy, however, can empower decision-makers, organizations, and individuals to maximize the innovative, value-adding potential of the creative economy. One of the strongest potential areas of creative strategy is in cultivating collaboration and cross-pollination within the creative economy. The interconnectedness of industries such as art, technology, and entertainment has given rise to new possibilities and synergies (recall how Showpass emphasized collaboration with venues and industry partners to differentiate themselves from their competitors meaningfully).
By embracing creative strategy, businesses can forge partnerships, foster interdisciplinary collaborations, and leverage the collective power of diverse talents. Such collaborations not only enhance the quality of creative outputs but also lead to the emergence of innovative products and services that can transcend traditional industry boundaries.
As we delve ever deeper into the creative economy, it becomes evident that creative strategy is becoming a necessity. Whether it's crafting compelling narratives, designing groundbreaking visuals, or adapting to an ever-evolving landscape, creative strategy can act as a compass guiding the creative economy toward a future where innovation, diversity, and resilience come together.
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