The mark of the developed intellect is that it could accommodate two contradictory ideas at the same time.
John KaoCompanies have to take risks to get new knowledge, in a manner similar to how jazz musicians take risks when they go after a new approach to a tune or a performance.
John KaoAll of these creative ideas and decisions about new ways to reach the consumer can be tracked with regard to how well they are working, whether and how they are building awareness for the product, how well they motivate the consumption of the product, and so on.
John KaoThere are some pretty obvious ways of benchmarking creativity. One way is to perform what I call a creativity audit, which is to look at your capabilities and look at your performance and examine the percentage of revenue that comes from products that are less than five years old, less than three years old and that are current with the present accounting period. You can then compare those figures to those of your competition along the same axes.
John Kao