The Role of Creativity and Innovation in Business Success

Running head: HI6008- M1– Business Research
HI6008- M1– Business Research
Assignment 2
Submitted by – RUPIKA
Student id- ZME3076

HI6008- M1– Business Research 2
Table of contents
1. Introduction............................................................................................................................3
2. Project Objective....................................................................................................................3
3. Project Scope..........................................................................................................................3
4. Literature Review...................................................................................................................3
5. Research Questions/Hypothesis.............................................................................................5
Primary Question....................................................................................................................5
Secondary Questions...............................................................................................................5
Hypothesis..............................................................................................................................5
6. Research Design and Methodology.......................................................................................6
Qualitative research................................................................................................................6
Quantitative research..............................................................................................................6
7. Research Limitations..............................................................................................................7
8. Time Schedule........................................................................................................................7
9. Conclusion..............................................................................................................................7
Reference List............................................................................................................................9
Appendix..................................................................................................................................11

HI6008- M1– Business Research 3
1. INTRODUCTION
In the present day business scenario the development is largely evaluated on the basis of a
drastically changing operational perspective and huge development in the competitive
aspects. The increased need for customer oriented market is leading to some of the major
issues like growth of retail consolidation, enormous burden over the manufacturers as well as
suppliers and margin erosion. Coping with the negative impacts of these factors is one of the
most important concerns of the present day business structure. In order to develop a coping
mechanism the availability of creative and innovation based operational structure is highly
recommendable. It helps in developing solutions for the pre-existing issue and also facilitates
the development of new process that can be utilized in order to minimize the negative
impacts.
2. PROJECT OBJECTIVE
 To explain the role played by creativity and innovation in the success of a business.
 To describe different models of introducing innovation in a business.
 To identify the concepts related to innovation in a competitive environment.
3. PROJECT SCOPE
This project is related to some of the major aspects that are related to application of creative
and innovative aspects that are related to the development of an organisation. The concept of
innovation and its application process is of major importance in order to facilitate the
conduction of this research. The assessment of creativity and innovation based perspectives
are of major importance and thus its inclusion in different fragments of an organisational
operational system is largely discussed in this research.
4. LITERATURE REVIEW
Innovation and creativity are defined as ability of an individual or a group of individuals who
can perfectly develop proper measures in order to facilitate the overall developmental
implications that are related to a system. It helps an organisation to assess the profitable
aspects and determine the relative developmental possibilities that are related to smooth
business conduction and future oriented strategies assessment. The use of innovation is so

HI6008- M1– Business Research 4
intensely incorporated in the developmental aspects of a business that there perfect alignment
can be observed with a widely varying service area. According to the views of Sarooghi,
Libaers & Burkemper (2015), companies like Proctor & Gamble, Inc. and IDEO have
incorporated the use of creative and innovation based business conduction as it helps them develop
major possibilities that are largely important for future of the business. In the time frame of 20 th and
21st century, the availability of innovation and creativity has largely governed the overall business
operation structure around the world. Almost all of the major organizations have included these two
factors in their core organizational values and relay over them in times of crisis and thus facilitate the
overall development of an organizational operational structure. According to the views of Amabile &
Pratt (2016), a major reason that is related to the development of a huge consideration for creativity
and innovation is their ability to analyse the situation and provide sustainable approaches that can be
utilized for performance related result development. In order to facilitate the overall understanding of
inclusion innovation into a business process, assessment of production and manufacturing unit can be
largely taken into consideration. This segment of a business is incomplete with the inclusion of
innovation and creativity as production of a specific product is largely related to the developmental
opportunities that are associated with inclination of individual idea into the desired configuration and
proper implementation (Dentchev et al. 2016).
Design thinking is related to the application of individual creativity and innovative thinking in the
decision making process of an organization. It helps the business structures to develop major
possibilities that are of major importance in order to facilitate the overall developmental possibilities
related to an organization (Roth, Schneckenberg & Tsai, 2015). The inclusion of design thinking
helps an organization to extract innovation based ideas and by applying them it increases its
respective efficiency and orientation. The availability of major possible ways in which an
organization can assess the required creativity and innovative possibilities from its belonging
executives is an important factor that can be assessed in order to facilitate the overall development of
an organizational system. In majority of the cases there is a pre-developed understanding that
innovative and creativity skills are qualities that can be assessed only by birth. This is a major
misunderstanding as according to the views of Spieth, Schneckenberg & Ricart (2014), creativity
and innovative qualities can be developed through proper orientation of ideas and development of
individual learning. Increased use of practical applications is also considered as a major factor that
can be utilized in order to facilitate the overall developmental applications in terms of innovation and
creativity development.
The fact that, no one is perfect and everything needs to be replaced by the advanced version of it in
order to keep the pace with developmental possibilities and innovative aspects. This concept is also
important in order to facilitate the understanding that is developed by the organisations and such