Importance of Innovation in Business: A Study on Diverse Start-ups in India

Running head: CREATIVITY AND INNOVATION
CREATIVITY AND INNOVATION
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1CREATIVITY AND INNOVATION
Innovation is important in business because it facilitates organizations with an edge in
successfully penetrating thriving markets at rapid pace and provides an improved connection to
emerging markets. Innovation can proficiently advance companies to bigger opportunities
especially in economically developed nations. Thus, a company with an innovative culture have
has the propensity to grow easily regardless of the fact that creative process does not always
works in undemanding manner. Though tried and tested methods may be consistent but trying
out new things is considered as a sensible experiment. In the article “Leading Innovation-
Innovation is Simple, but Not Easy!” published on Mindwerx.com, Bill Jarrard has noted that
areas regarding innovation tend to emerge from systemic issues or weaknesses with a business
along with shifting consumer demands or technological advancements (Jarrard, 2018).
Furthermore, Jarrard (2018) has essentially noted, that the key to surpass the need to
successfully target areas which require innovation can enable organizations to efficiently
progress towards their set goals and objectives. Meanwhile researchers studying business
innovation are of the perspective that sincere and effective form of creativity and innovation can
only develop primarily with successful implementation of new product, service or strategy.
Though author on the other hand has negated such idea but it is important to distinguish the need
of innovation of newly developed products in order to attain immense success in prospective
days.
Meanwhile, article “Doblin - Ten types of innovation” revealed that though innovation
faces diverse challenges, many business enterprises have been embracing innovative ideas to
advance towards success (Doblin, 2018). For example, Walmart Inc, an American multinational
retail corporation continues to develop lucratively through major process innovations based on
real-time inventory management systems, price or delivery agreements with merchandise

2CREATIVITY AND INNOVATION
suppliers which efficiently enable managers to distinguish shifting consumer attitudes and
further aid to act responsive with new pricing as well as merchandising configurations (Gudem,
Steinert & Welo, 2014). On the other hand, based on Doblin-Ten types of Innovation, Harley
Davidson has been creating a worldwide community of millions of consumers to innovate their
consumer experience as part of the way the customers primarily perceive, think and feel
themselves (Gudem, Steinert & Welo, 2014). However, many companies face difficulties in
embracing innovation because of fear of uncertainty to involve in ambiguous work of innovation
(Doblin, 2018).
1. Unique Identification Authority, start-up business firm aiming to offer paperless
provisioning of banking services as well as welfare benefits to diverse range of Indian
communities who have been devoid of authenticated identification until recent past. As
the organization deals with multimodal bio-metrics such as fingerprint services,
photographs and iris scans, it should primarily implement product performance type of
innovation belonging to offering innovation category (Uidai.gov.in, 2018). This type of
innovation type primarily will deal with the value of the product which this organization
is offering. Through innovative implementation of product performance the company can
efficiently recognize various features as well as the quality of service it is offering as it
primarily deals with welfare of millions of people in need of proper identification
(Uidai.gov.in, 2018). This type of innovation will be a prosthesis which will correspond
to the needs of marginalized communities and further deliver efficient services to its
clientele base (Fast company staff,2014).
2. Zipdial, the second innovative start-up business organization fundamentally developed
its business processes to circumvent costly call and messaging charges in order to convey