Importance of Innovation and Creativity in Business

INTRODUCTION
• The intent of this presentation is to discuss the
concept of Innovation and Creativity and their
importance in business.
• The presentation is also highlighting the
importance of innovation and creativity for
Competition
• In addition to this, it is also presenting the
examples of performance improvement
strategies

CREATIVITY AND INNOVATION
 Creativity is said to be the function of curiosity,
evaluation, imagination, and knowledge. It has
been believed that the greater base of knowledge
and curiosity level, the business get more ideas,
combination, and patterns can achieve, which
then related to creating innovative services and
products.
 Innovation is generally the application of an idea
and in a number of cases, it is said to be the
collaborative enterprise (Borrus, 2017).

VALUE OF CREATIVITY AND
INNOVATION
 Innovation is essential because it supports in
building and executing new solutions for every
type of issue or problem that could not be
resolved with traditional ways, and when
prevailing elucidations does not support in
attaining the desired outcomes.
 Creativity is essential as it is the main ingredient
of the innovative procedure and in its absence
innovation is impossible.

VALUE OF CREATIVITY AND
INNOVATION TO BUSINESS
 Creativity and innovation go hand in hand.
Creativity and innovation in business have been
identified as a definite path to attaining success.
Motivating creativity and discovering totally new
result enhancing the organization’s productivity.
Inspiring workforce to think beyond the
boundaries and providing the proper time as well
as resources in order to discover new innovative
ideas is the path to cost-effective solutions for
business.
 Innovative approaches and creative ideas can be
gained from anywhere from customers, employees,
partners, target groups, etc.