Bureaucracy is the
most likely obstacle to creativity in companies, according to a survey of business
managers by the Chartered Institute of Management Accountants.
The web-based survey, carried
out for CIMA’s Global Business Management Week, reveals that time scarcity and
risk aversion are the other main factors thought likely to stifle innovation.
More than half of those surveyed believe
that during a recession, businesses should focus on their customers and 40 per
cent think that innovation is key.
Both factors are considered
more important than cost-cutting as a means of remaining competitive in
"The results of the survey
show a strong connection between creativity and entrepreneurship and also
demonstrate the power of personalities among business leaders," CEO of CIMA Charles Tilley said.
"CIMA recognises that
management accountants are increasingly faced with the challenge of quantifying
creativity in their organisations.Our qualification encourages a problem–solving approach which equips
today’s management accountant with a broad set of skills to come up with
Richard Branson was voted the
most creative business person by the 2,386 business managers who took part in the research.
Virgin also topped the league
of the world’s most creative companies.
By Lisa Bratby