Importance of Creativity and Innovation

Entrepreneurship-and-Communication-Skills-notes

Creativity and innovation are key to generation of new ideas and methods of improving goods and services for customer satisfaction. They are key to the success of a business particularly when strategizing during strategic planning, and when designing new products and services. Creative thinking and innovation are particularly useful during planning and setting out strategies to compete.  Thus creativity and innovation:

  1. i) Leads to increased productivity
  2. ii) Helps in profit maximization

iii) Motivates employees to become more creative

  1. iv) Leads to diversification of products and services
  2. v) Introduces a variety of goods and services

In order to arouse creativity, the following ideas may be explored:

  • Is there a better way of doing things in a business organization?
  • Need to challenge custom, routine and traditions of the organization.



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