Importance Of Creativity And Innovation In Business

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Innovation is the fundamental key that makes companies great, innovation in business is an organization's process for introducing new ideas, services or products, which involves intentional application of imagination, information and initiative in gaining greater or different values from resources, and this includes all processes by which new ideas are generated and converted into useful products. creativity and innovation in business, while there are a lot of definition for creativity and innovation, creativity can be seen as going beyond certain boundaries, whether is technology, knowledge, beliefs or social norms and acting on them by bringing them to life.

Innovation is not just about invention but also a style of behavior corporate with
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Studies show that the probability of economic success from innovation is between 20% and 30%. It takes guts to live with risk, get creative and innovate! As a 20% to 30% success rate, it becomes necessary to improve the chances of success. Leadership is of course the first key to success. Successful innovation requires a clear vision defined by the leadership of the organization as well as the creation of an environment where this vision can be shared by colleagues. This combination of vision and environment is called strategic context. Organizations rely on it to harness their creativity. Without a clear strategic context, creativity may blossom, but it will be misplaced. Strategic context gives purpose and direction, benchmarks and role models. It shows the way …show more content…
This means that senior and junior players in an organization act as innovators and entrepreneurs, and that they can inspire others to do the same. Taking risks is not just about jumping in foolishly, but assessing in a cool and rational way what the risks are and preparing for them. Innovation inevitably starts with creativity. Many of us have some creativity and it is the organizations role to provide an environment where we dare to be creative
A last key to insure success is marketing. In a competitive world where complete originality and genius are rare, good marketing is the innovators most important key to insure success.

like IT innovation, which calls for using technology in new ways to create a more efficient organization, business innovation should enable the achievement of goals across the entire organization, with sights set on accomplishing core business aims and initiatives.

In sum, innovation provides organisations a competitive edge, which makes embedding innovation so important. A few areas to consider are: ensure that a well-defined innovation process exists, create the conditions that support a climate for innovation, and build capability so that employees possess the skills and behaviours essential for

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