Creativity in organizations has become an issue of great importance, but how does a company encourage personnel to find creative solutions to budgeting, product development, marketing and training? With engaging contributions from leading academics and professionals, this book explores the key factors that are critical to the development and promotion of creativity in any organization.
Chapter 43: Creativity at Woolworth Corporation
Creativity at Woolworth Corporation
Some say that hitting a baseball is the most difficult act in all of sports. Perhaps introducing a new venture is the most difficult act in all of business. Because we are willing to take risks, we sometimes fail. In recent years, we have introduced several formats that no longer exist. However, we try to cope with the inevitable failures associated with creativity by managing our businesses so that discontinued new ventures do not result in material loss. The only guarantee against failing is not trying—but this is an alternative we reject.
At Woolworth Corporation, creativity includes improving current activities, as well as undertaking totally new activities. New ...