Managing for Innovation and Creativity Essay Example | Topics and Well Written Essays - 2500 words - 1

Managing for Innovation and Creativity - Essay Example Creativity and innovation are complementary values in business management. Creativity refers to an artistic outcome or result of the confluence of psychological and emotional dimension of such desire to ascertain business leverage in the market. Innovation, on the other hand, is effected only when all creative mechanism are maximized to take advantage of the rapidly changing and developing market. Innovative measures and creativity relate to some strategic process to unearth opportunities in unpredictable market. Innovation permeates the interfacing of the organization and its business environment. Such process involved planning which will detail some entrepreneurial conceptual framework; implement them and evaluate results to determine outcomes. Economists explained that every entrepreneur needs to be an innovator to see opportunities in market changes and can reinvent ways to attract customers or clients that will avail offered product or services. This are illustrated in strategie s about (a) how product’s quality is introduced to customers; (b) ideation of new method of production or service to satisfy customer’s needs, (c) developing access or opening doors in new potential market, (d) identification of raw materials suppliers who can offer competitive price for these utilities, and (d) business leadership and management as well as its expertise in managing performance. Such therefore require fundamental knowledge on management, marketing strategies and about business roles in order for a company to contribute economic growth to a nation through creativity and innovation. Meanwhile, creativity is essential in marketing activities: promotion, sell, branding, pricing and in strategically administering sales of products. This is an entrepreneurial skill that requires serious analysis in order for entrepreneurs to adapt to changes and developments. Creativity refers to what is trendy, new and the reinvented processes to challenge traditional and c ustomary business practice. It is about introducing a fresh perspective at products or services for customer acceptance and satisfaction.