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CREATIVITY IN BUSINESS AND TYPES OF INNOVATION

The different types of innovation and creativity in business are crucial factors for the success of any business organization. Creativity is the ability to turning new and imaginative ideas into reality. Moreover, it is the ability to find hidden patterns, making connections between phenomena that do not relate, perceiving the world in new ways, and generating solutions. Additionally, it involves the process of thinking and producing. Contrastingly, innovation is the implementation of a new or a better product, service, or process that creates value for a government, society, or business. Furthermore, both innovation and creativity are disciplines and they both result in value creation.

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THE ROLE OF CREATIVITY IN BUSINESS

Creativity in business provides a competitive advantage. It involves stepping out of the comfort zone and exploring new solutions and stimulating creativity. However, creativity and the different types of innovation go hand in hand in business. Moreover, creativity helps to discover new ideas that interest and engage the users. This is vital for the success of any business. Also, creativity improves the productivity of the workplace. It aids people in thinking and producing new ideas to improve the situation. Additionally, it helps to solve business problems. It aids in finding opportunities and seeing challenges as a chance of improvement.

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THE BASIC TYPES OF INNOVATION IN PROBLEM-SOLVING

Sustaining innovation is a type of innovation where people seek to get better in whatever they are doing. Furthermore, they work towards thinking and producing better products or services to improve their existing capabilities in the existing market. Breakthrough innovation is one of the types of innovation where a different domain solves a problem arising in an adjacent domain. Basic research is also a type of innovation that helps businesses to compete in competitive markets. It involves creativity in business and enables business in design thinking, open innovation, business innovation models, and planning for the future.

Read more on the basic types of innovation in problem-solving at;

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