Why a Creative Economy is important Script
March 9, 2022
Image: Creative Economy Article - Duangrit Bunnag | CI Talks
I just can't see what business can continue operating in the future without creativity. You all have creativity. You have the potential and ability to pursue creativity. If someone tells you that you don't have it, do not believe them.
Why a Creative Economy is important
Hello, I am Duangrit Bunnag,
A contracting population means less demand. Less resources, or scarcity, in the world affects supply. Both will be less. The question is how the global economy can evolve to continue to feed our planet and our needs. This is about sustainable development in economy.
Let me give you an example. Let's say I have a glass that is sold today at 20-30 Baht. But I can use the same material to produce a design-led glass. I might be able to sell the glass at a higher price, at 100-120 Baht.
This is the market of the future. You will have to create products that transform limited materials or resources into higher value goods. Such products must be distributed in diversified markets where specific demands need to be met, but the number of buyers will be lower. The only way we can improve or develop our economic thinking from this point is through creativity.
You will see from today that a number of things will have high competitiveness given new thoughts or new ideas or if certain businesses have embraced creativity. In my view, as an Architect, I do not see how any business can move forward into the future without creativity.
The question is, are we ready? Are we prepared? Do we have the right mechanisms to develop people with high creative potential? Potential is the backbone of a creative economy. It's an economy that creates people who have the potential to create.
Creative Economy, as the phrase suggests, is about creativity's economic contribution. It's not simply about films, books, music, or design. Creativity occurs in all facets of a business. I call it, or anything originating from creativity, a Creative Economy.
Today, I have five insights for you to take home on creativity and creative economy.
1. Focus on Creating Temporary Monopolies
First is Temporary Monopoly. In the future, we won't see a permanent monopoly of goods and services. Everything will be temporary.
It's a Sine Wave. A Sine Wave goes up and down. When it reaches the top, that's where wealth is created. Companies, from this point forward, should focus on creating Temporary Monopolies repeatedly.
A company will need to build and rebuild itself. For example, Facebook has built a Temporary Monopoly called “Meta” (Metaverse).
So I can tell you that the one thing that takes you to the peak of wealth again and again is creativity. I will show you that there is a direct correlation between Temporary Monopolies, wealth and creativity.
2. Make "Silent Knowledge" Your Business
Second is silent knowledge. One area where we keep failing is viewing knowledge as articulated knowledge or knowledge that can be recorded, be it books, websites,or information posted online.
To give you an example, let's say I give a musician a note to play. That note is articulated knowledge. Being able to read music is articulated knowledge. It doesn't mean that the musician can play an instrument or song in the same way as a music master. But when the master passes on all techniques and tips for the musician to play a song captivatingly, that is silent knowledge.
This is why the Thai education system, or education system generally, is failing. Because we don't place any emphasis on silent knowledge. We prioritize articulated knowledge.
But these days, any knowledge that can be recorded has already been recorded, and copied. So kids can easily access articulated knowledge at any time beyond school. Schools that aim for articulated knowledge will not be engaging for children.
If we can pass on both types of knowledge, articulated and silent, the environment will be interesting. Schools will be interesting.
An environment that has the potential to pass on both silent knowledge and articulated knowledge is an environment that breeds creativity.
3. Spark Creativity in the Right Context
Third, “creativity is what is possible within the context”. It starts with this sentence. It's how to look for possibilities given the current context.
To do this, you have to look further for possibilities, not from yourself, but from the surrounding context.
Picture a diagram. When you make a dot, you don't see what the possibilities of that dot are until the number of dots increases to 2 or 3 dots, or more. When there are three dots, you may see a triangle. When there are 4 dots, that's when you may see a quadrilateral instead.
Potential arises when there is enough context. When there are more dots, the potential becomes clearer. At one point, you will be able to say that it's a circle.
With enough context, new possibilities emerge. You don't even have to consciously think about it. You will see that it can be a circle without effort. If you can see this and there is enough context, I can tell you that possibilities will automatically arise. That is the wonder of creativity.
4. Change the Context to Ignite Creativity
Fourth is altering the context. Sometimes when you are in certain contexts and can't find a path forward, I'd suggest you try changing the context.
Let's say you're looking into a room and you're trying to find an exit, I look left, right, in front, at the back, but I can’t find a way out. What I have to do to find an exit is to alter the context.
Imagine if I flip the room from one side to the other; flip it on the vertical axis and then the horizontal axis. I will eventually find an exit hidden in a perspective that I have never seen before.
For example, if you are a creative writer and are sitting at home one day with writer’s block, you may decide to change the scene and move to a different environment, like a cafe. This is a good example of altering the context.
So what I want you to try is to try altering the context whenever you can't see the solution. Try changing the context, changing the total perspective. This is the way to see new ways to innovate, by exploring different contexts.
5. You are Already a Creative Person
Fifth, I want you to remember that you are always already a creative person.
No matter what other people say, you have the potential to be creative.
If you don't believe me, close your eyes and drift back in time to when you were seven years old. You were brim full with creativity. Back then, everything was possible. You could do anything. You could become anything.
That is the wonder within yourself, the wonder of your life. So, you are already a creative person. You have always been creative. This is the thing that makes you realize that you can do anything with your hands.
In the future, there won't be anything that generates wealth without creativity.
I hope you will see that creativity lies within each and everyone of you. You have the ability to summon creativity whenever you need it.
Architect & Designer