8/3/2019 Navan OHP

1/4

CREATIVITY AND MANAGEMENT OF INNOVATION

Creativity and Innovation

Creativity is the nature of creating something new, either a new idea, concept

or method. Innovation is using creativity to enhance performance of a process,

person, team or organization.

If implementation is putting an idea into practice, creativity is coming up with the

idea in the first place. Creativity is an essential part of innovation, is the point of

departure.

Creativity and Innovation

Creativity

Creativity is defined as the production of new and useful ideas concerning

products, services, processes and procedures by individuals or small groups of

persons working together.

Creativity in entrepreneurship include being independent and spontaneous

and processing a problem solving attitude.

Innovation

Innovation is introduction of a new idea into the marketplace in the form of a

new product or service or new market or an improvement in organization or

process.

Ideas have little value unless they are converted into useful product and

services

8/3/2019 Navan OHP

2/4

Creativity Process

DO IT is a process for creativity

D - Define problem O- Open mind and apply creative techniques I - Identify best solution T Transform

Innovation Process

Research and Development (R&D) Production MarketingInnovation is an opportunity for something new, different. It is

always based on change.

Innovators do not view any change as a threat but as anopportunity

8/3/2019 Navan OHP

3/4

The six focus areas for innovation are:

y Product --- what we produce and selly Service --- exceeding customer expectationsy Process --- continuous improvement of how we do thingsy Management --- business strategies, systems and structuresy Open --- working beyond boundaries and collaborating globallyy Value --- creating unique value that eliminates the cost to compete

Looking through this list, consider where you need to focus your innovative efforts

right now and write down a couple of project ideas/potential focus areas.

Product innovation A good or service that is new or significantly improved. This includes

significant improvements in technical specifications, components and

materials, software in the product, user friendliness or other functionalcharacteristics.

Process innovation A new or significantly improved production or delivery method. This

includes significant changes in techniques, equipment and/or

software.

Marketing innovation A new marketing method involving significant changes in product

design or packaging, product placement, product promotion or

pricing. Organizational innovation A new organizational method in business practices, workplace

organisation or external relations.

Technological innovations based on specific technology, invention,discovery,

Social innovations in critical historic periods more important thantechnological ones (mail, educational systm, social systm, health care, )

8/3/2019 Navan OHP

4/4

DEGREE OF NOVELTY

Incremental innovations Radical innovations Systematic innovations

Incremental Innovation:

Incremental innovation is generally exploiting existing ideas , like

Pentium Dual Core shows and incremental on Pentium IV.

Radical Innovation:

Radical Innovation is like finding a commodity , something new to

world like the transistors , these generally require R&D and take a lot of time.

Systematic Innovation:

Systematic Innovation teaches companies how to define their organic

growth strategy (which, after all, is the reason youre innovating in the first place).

It also advocates the use of a balanced innovation portfolio, one that tempers

breakthrough innovation with less risky projects.

Conclusion

Creativity and Innovations will be the key to success for new generation

entrepreneurs to exhibit their innovative abilities to survive in the business. The

coming century will be the age of idea generation and implementation which need

speed, accuracy, quality to bring ease for human life

Creativity is essential for innovation for a product must exist at least in a

concept stage for you cannot innovate anything that does not exist. Thusinnovation depends on creativity while creativity does not depend on innovation.

Though the better success of creativity depends on innovation.