Innovation Management Assignment-01

INNOVATION MANAGEMENT V.
SHARAVANI
[MB202369]
INNOVATION MANAGEMENT
ASSIGNMENT-01
INNOVATION AND CREATIVITY ARE

INSEPARABLE AND COMPLEMENTARY TO EACH
OTHER.EXPLAIN
If you’re creative, you can probably do all sorts of things with your mind and
hands. You may write poems, paint beautiful paintings, or create interesting
designs of paper quilling art. They will be unique. But, does that mean you’re
an innovator? No. Nikola Tesla was an innovator. So what is the difference?
Innovation means coming up with something completely new; something that
no one has ever done before. It means inventing a new artistic technique, a new
genre in literature, or an entirely fresh approach to doing business.
There’s a difference between creativity and innovation, but these two processes
are also interconnected. As a hiring manager, you want to see both in your team.
THE DIFFERENCE BETWEEN CREATIVITY AND

INNOVATION
Let’s clarify the difference in the simplest way possible: by definition.

In Oxford Living Dictionaries, creativity is defined as “the use of imagination
or original ideas to create something.”Innovation, on the other hand, means “a
new method, idea, product, etc.”
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INNOVATION MANAGEMENT V.SHARAVANI
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When you look at it this way, creativity is crucial for writers, painters,
musicians, and other kinds of artists. It’s also needed for journalists and
marketing experts. But innovation is not isolated from those professions.
In business, in particular, innovation is needed to give a company a push
forward. If, for example, you have an app development company and you notice
a gap in the market for a specific kind of app, you’ll develop it. For that, you’ll
need a creative team that’s able to bring an innovative idea to action. However,
you also need innovative people in your team. These are the ones who will
analyze the market, notice the gaps, and suggest inventive solutions.
THE CONNECTION BETWEEN CREATIVITY AND

INNOVATION
Creativity can exist without innovation. When a professor asks a student to

write custom essays, they must be creative. They need a unique thesis
statement. Although the arguments will be based on research, they should
expose the student’s own point of view. However, the student is not inventing a
new format of an academic paper, style of writing, or anything else that didn’t
already exist. Unless they expose an idea that is literally going to change the
world, they are just being creative. And that’s okay.
Innovation, however, cannot exist without creativity. Creativity is its starting
point. Before Nikola Tesla became an inventor, he was a creative thinker. He
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accumulated a large base of knowledge, and he managed to combine it with his

imagination, so that he would come down to the unique outcome.
In fact, there are three levels of creativity, with invention being one of them.
THREE LEVELS OF CREATIVITY
1. CREATIVITY /DISCOVERY
This is the moment when the creative person comes to a discovery. It’s a
genuine idea that may come unexpectedly, but may also be the result of a
lengthy thought process. For example, you get an idea to create a product that
fills a gap in the market. The need for creativity will not stop at this point. It’s
the thread that connects the entire process.
2. INVENTION
Invention is creativity brought to a higher level. For example, Mark
Zuckerberg’s creative idea led to Facebook. But this is often something that
would’ve still happened. If Zuckerberg didn’t create Facebook, someone else
would have created something similar. If you don’t fill in this market gap,
someone else eventually will.
3. CREATION
Now, this is the highest form of creativity. Mozart created music no one else
would’ve created. When you relate creation to business, it’s something that only
your organization is capable of. Even if the company does not reach this point,
it may still be successful. Innovation, however, is necessary for a business to
thrive.
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HOW TO BOOST CREATIVITY AND INNOVATION

AMONG EMPLOYEES
1. INSPIRE YOUR PEOPLE TO LEARN

Before they can think of something that’s not available in the industry, they
must first know everything about the industry. Truly creative people don’t wait
for bursts of creativity to hit them out of nowhere. They learn and observe the
world around them with all their senses.
Therefore, you should inspire your employees to continuously expand their
knowledge. Your organization should organize training sessions and pay for
online courses on individual bases.
2. FOCUS ON HIRING CREATIVE INDIVIDUALS

“What have you invented so far?” is not a good question to ask during an
interview. Maybe someone still hasn’t invented anything special, but they may
still have the creative foundation to do so. Instead, you should evaluate their
creativity.
You may do so by asking tricky questions, such as: “What would you change if
you were the boss of this company?” Think of several critical thinking
questions, so you can see how this person’s mind works under pressure.
3. BRING THE TEAM TOGETHER

Put several creative minds in a room and see what happens. You just need to
give them a trigger, such as an issue you’d like to solve. Let them be flexible
enough to express all ideas and inspire them to build on each other’s ideas.
Such sessions may result in great inventions for your organization.
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CREATIVITY AND INNOVATION – FOUNDATIONAL

ELEMENTS OF A SUCCESSFUL COMPANY
A company that nurtures creative and innovative thinking processes is one that
has a bright future. These processes are dependent on a hiring manager’s work,
since they are the ones who choose the people to become part of the team.
That’s why we need to understand the difference and connection between
creativity and innovation, so we can drive our organizations to progress.
Innovation Only Tool to Solve Problems
The world is fraught with issues that are hard to solve, but at the same time will
continue to demand a solution. And going by Albert Einstein, we cannot solve
problems with the same thinking we used when we created them. Far-sighted,
creative ideas and innovative solutions are required to solve them, but at the
same time, such solutions will not emerge from simple and linear planning and
problem-solving processes.
Innovation is Driving the Global Entrepreneurship Movement
Considered as a global movement, entrepreneurship is presently embryonic in

emerging markets like China and India. Social, women, and youth sectors are
the sectors that demand innovative solutions, and entrepreneurs have a large
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playground to cater to, with out-of-the-box ideas that will impact the quality of
lives and contribute towards making the world a better and more sustainable
place.
Adapting to Changing Workplace Dynamics and Trends
Millennials now swap jobs at an escalating rate as they look for more gainful
engagement, independence, and egalitarianism. This has deeply impacted the
hiring process, which is now changing as recruiters have started relying on
Internet-based routes. ‘Reputation’ is becoming more important to
organizations. Freelancing and flexi-timing are fast emerging as a way of life
and a significant section of the workforce are working from home, taking
responsibility for generating their own income and wealth. The young
professionals are also opting for co-working and collaborative work
environments, thus networking and teaming to share and develop knowledge,
skills, and experience.
Responding to Increasing Customer Expectations
Major changes are necessary to understand customer’s need, want and

expectation as they are now empowered by the increasingly connected and
digitized world. Customer focus has rapidly shifted to receiving the value that
reveals that companies understand and support their lifestyle preferences.
Making the Most of Globalization Connectivity

Globalization has opened economies nationally and internationally and as a
result governments are espousing free-market economy. This is vastly
increasing their productive potential and creating new opportunities for trade
and investment internationally. The hurdles to global trade and negotiations for
promoting trade, in goods and services as well as in investments have also
greatly reduced.

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INNOVATION MANAGEMENT V.

INNOVATION AND CREATIVITY ARE

THE DIFFERENCE BETWEEN CREATIVITY AND

Let’s clarify the difference in the simplest way possible: by definition.

THE CONNECTION BETWEEN CREATIVITY AND

Creativity can exist without innovation. When a professor asks a student to

accumulated a large base of knowledge, and he managed to combine it with his

THREE LEVELS OF CREATIVITY

HOW TO BOOST CREATIVITY AND INNOVATION

1. INSPIRE YOUR PEOPLE TO LEARN

2. FOCUS ON HIRING CREATIVE INDIVIDUALS

3. BRING THE TEAM TOGETHER

CREATIVITY AND INNOVATION – FOUNDATIONAL

Innovation is Driving the Global Entrepreneurship Movement

Considered as a global movement, entrepreneurship is presently embryonic in

Adapting to Changing Workplace Dynamics and Trends

Responding to Increasing Customer Expectations

Major changes are necessary to understand customer’s need, want and

Making the Most of Globalization Connectivity

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