Assignment | The innovation is important for the evolution of any company.

RUNNING HEAD: Management 0
Management

Management 1
The innovation is important for the evolution of any company. The innovation tools are used
increasingly to drive the business forward. In order to be effective the business is required to
implement different approaches to the innovation. A business is required to discern what
precisely makes an innovative organization and how it subsidizes to growth. It has been
considered that more than 90% of the companies use new technologies to assist the
innovation process. Still, the companies face an obstacle to create and reassure a truly
innovative culture through the board. The innovation requires an investment of resources to
fulfill the requirements of innovative management in the organization. Effective
organizations devote hours in emerging an approach so that the new ideas can be cultivated in
the workers. The success of the organization is linked with the capability to get the finest out
of the inventive tasks of the employees. It necessitates an innovative culture so that the
employees can think independently. The business leaders perceive information as something
which initiates progress and missing it can supress the growth of an organization.
As per Sternberg, 2012, two theories of creativity are developed, the investment theory of
creativity and the propulsion theory of creative contributions. According to the investment
theory of creativity, creativity holds an important part in a decision (Sternberg, 2012). The
decision is specifically about the choice to buy low and sell high in the world of philosophies.
The creative people in the organization create ideas and work like good investors. Once the
ideas get accepted, the creative individuals sell high and reap profits. The creative people
tend to defy the crowd and seek to propose ideas in their own direction. The obstacles faced
in creativity are the limitations put on one’s thinking. The aspects comprised by the creativity
are abilities, knowledge, personality attributes, ways of thinking, motivation, and
environment (Demircioglu and Audretsch, 2017).
According to Li et al, 2005, the creativity is critical to the evolution of the human evolution
and headed to significant methodical detections. The individuals are anticipated to have
scientific detections if specific trait creativities are possessed by them. It comprises
imagination, curiosity, challenge, and risk-taking (Li et al, 2005). Add on, basic personality
aspects like extroversion, openness to experience, assiduousness, and amicability contribute
to the trait of creativity. Out of all, openness plays a significant role in determining an
individual’s trait creativity.
As per Csikszentmihalyi, 2011, the creativity is about capturing moments which make life
worth living. The factor leading to these movements is excitement. Add on, the knowledge