Innovation & Creativity

Running Head: Innovation & Creativity
Innovation & Creativity

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Table of Content
Introduction to Innovation....................................................................................................................2
The Problem/ Missing part of the existing ecosystem...........................................................................3
Internal & External Drivers for Innovation.............................................................................................3
Internal drivers of Innovation............................................................................................................4
External drivers of innovation...........................................................................................................4
Barriers to innovation........................................................................................................................5
 Lack of thought leadership....................................................................................................5
 Risk involved-.........................................................................................................................5
 Lack of resources...................................................................................................................5
 Generational differences.......................................................................................................5
Implication of the innovation- An analysis............................................................................................6
Diffusion of innovation..........................................................................................................................7
 Innovators..................................................................................................................................7
 Early adopters............................................................................................................................7
 Early majority.............................................................................................................................7
 Late Majority.............................................................................................................................7
 Laggards.....................................................................................................................................7
Conclusion.............................................................................................................................................7
References:............................................................................................................................................9

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Introduction to Innovation
Innovation in the simplest from can be understood as application of new and better solutions that
can meet new requirements, unarticulated needs or the existing market needs. Innovation is both
science and an art and in its purest form always does something noble for the society (Davies, 2014).
It is the process of converting an idea into a good or a service which in turn creates value for its
customers. The 2 pillars of innovations are; idea to be replicable at an economical cost and it must
satisfy a specific market need of its target audience. Innovation involves application of information,
creativity and imagination with great initiative to derive higher or different values from existing
resources (Verganti, 2016)
Technology and innovation influence both the company and the society in totality, and this impact is
on-going. Entire industries can be created or disappeared very quickly because of new technologies
and innovation. For example the entire music industry changed in the span of 40 years, starting from
record (LP’s) to eight track tapes to cassette tapes, moving to compact discs, then MP3 and now
smartphones and iPod’s. It can also be said with an ease that technology and innovation influences
not only the technical aspects of businesses but also the behaviour and attitudes of individuals and
groups within the organization (Gawer & Cusumano, 2014)
For the purpose of this report, innovation and creativity will be applied to a newly designed
application for emergency pertaining to any injury, terrorist attack and sick people. The rationale
behind launching the application will be discussed, the challenges in the existing solutions and how
the application fits in the current ecosystem to satisfy the market needs. An analysis of the potential
internal and external drivers, conditions and barriers to the innovation pertaining to the security
application will form the basis of this report. Further, analysis and implication of the innovation and
its potential diffusion will also be discussed. Innovation and entrepreneurship go hand in hand;
hence it becomes really important to manage innovation for integrating technological, market and
organizational change.

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The Problem/ Missing part of the existing ecosystem
As explained in the introduction, innovation is not just exploiting new ideas, which leads to creation
of new product and services, but in actual it is bringing the innovation in to the market and solves
the missing puzzle of the ecosystem. Innovation is exploiting the new age technology and infusing it
with out-of -the box thinking to create new value and bring remarkable changes in the society. The
same out of the box intuitive and innovative thinking is the rationale behind launching a security
application which fixes the elementary problem in cases of emergency, a very noble thought and
concept (Leiponen, 2014)
The team wanted to launch an application for the purpose of security in case of emergencies. Before
formulating the idea for the up the problem in the existing solution provided by other marketers
were noticed. Some of the key challenges they could envision were:
 In case of emergency, ambulance takes too much time to reach the accidental site.
 Whenever there is a terrorist attack, the news is circulated after a lot of analysis and
introspection, which basically jeopardises the security of the people.
 In case of personal injury at home, there are instances when one does not know what has to
be done.
Based on the abovementioned problems the team wanted to create a comprehensive application
which could tackle all these challenges and be an innovative and beneficial tool for the society.
Internal & External Drivers for Innovation
Innovation as a culture is being appreciated and embraced in organization in the present time.
Business managers are tasked with the responsibility of ensuring that the organization adapts,
maintains and ensures innovative culture in the organization. Innovation in an organization is a
function of both internal and external drivers; many experts have come up with models which can
explain these drivers of innovation (Singh, Chakaraboty & Roy, 2016). The various drivers of an
organization are employees, the organization, culture, processes within the organization, incentives
for innovation; psychological environment in the organization, economic climate, geopolitical
climate etc., and these factors can be further classified into internal and external drivers (Prange &
Pinho, 2017)