Creative Thinking and Innovation in Banking Operations

This study focuses on innovating strategies that can be adopted for enabling the mobilization of creativity and innovation in banking operations. The study states about the scenario of the banking operations along with the importance of mobilization. The study have finally stated about the strategies that can be adopted based on the banking scenarios and importance of mobilising innovation and creativity.

Running head: CREATIVE THINKING AND INNOVATION
Creative Thinking and Innovation
Name of the Student
Name of the University
Author Note

1CREATIVE THINKING AND INNOVATION
Executive Summary
This particular study is aiming towards the innovating strategies that can be adopted for
enabling the mobilization of the creativity and innovation. The mobilization of innovation
and creativity can support the banks in enabling the profitability which is driven by
increasing the primary functions of the bank. The bank that has been considered for the study
is one of the most popular bank that is called Bank Nizwa. It is one of the first banks that has
adopted the sharia law which has impacted the growth of the bank. However, the bank needs
to incorporate strategies that are innovative which can be adopted for increasing the
profitability of the bank. The study states about the scenario of the banking operations along
with the importance of mobilization. The study have finally stated about the strategies that
can be adopted based on the banking scenarios and importance of mobilising innovation and
creativity.

2CREATIVE THINKING AND INNOVATION
Table of Contents
Introduction................................................................................................................................3
Background of the Organization................................................................................................3
Analysis......................................................................................................................................4
Stages of Creativity and Innovative Thinking.......................................................................4
Importance of Mobilizing Innovation and Creative Thinking...............................................5
Incorporation of Creative Thinking.......................................................................................5
Conclusions................................................................................................................................5
Recommended Plan to Encourage Creative Thinking in Bank Nizwa......................................6
References..................................................................................................................................8
Bibliography...............................................................................................................................9

3CREATIVE THINKING AND INNOVATION
Introduction
Mobilisation of innovative and creative thinking is an important part for the banks to
enhance their profitability and which can contribute to their organizational benefits (Birgili
2015). The incorporation of the creative thinking and the production of the innovative
solutions have the potential to provide an easy and effective solution to the organizations.
With a precise focus on the intensely competitive business market, the creative thinking and
the innovation is seen to have greater significance for the modern business organizations and
that is one of the key factors which is influencing the modern business organizations in
promoting the individual creative thinking. The paper is focused in the elaboration of the
impact of individual creative thinking in the business operations of one chosen organization
which is Bank Nizwa. The mentioned organization operates in the banking industry of Oman
and is renowned for incorporating the innovation, creative thinking and the presence of
technology in their business operations (Banknizwa.om 2019). The paper elaborates the
various aspects of the environment that suits the process of creative thinking and along with
that, it also describes various tools and models that are much required in promoting the
individual creative thinking. Along with this, the paper also provides some of the crucial
recommendations that have the potential to enhance the creative thinking.
Background of the Organization
Bank Nizwa is one of the first Islamic bank in Oman. It is one of the largest banks in
the nation in terms of coverage and the number of customers. The bank started its operations
from January 2013. The organization is currently managed by CEO Mr. Khalid Jamal Al
Kayed. Mobilisation (Banknizwa.om. 2019). As the incorporation of the creative and the
innovative thinking contributes to the success of the organizations in increasing the
profitability, reducing the cost associated with the business operations and in increasing the

4CREATIVE THINKING AND INNOVATION
effectiveness of the products and the services that the organizations offer to their customers,
the selected organization is observed to put a strong emphasis in promoting the individual
creative thinking and innovation.
Stages of Creativity and Innovative Thinking
Baer (2014) commented that the success of initiating or promoting the innovative or
creative thinking significantly depends on the company’s ability to find not only the correct
solutions but also a range of applicable solutions that have the potential to improve the
effectiveness of the products and the services of the organizations. However one of the major
constraints of individual creative thinking is the urge of individuals in searching for the
“correct solution”. Carmeli, Gelbard and Reiter‐Palmon (2013) are able to hit the actual
barrier with the statement that the society or the educational system is forcing the students or
the buddying professionals to only find the right solution rather than influencing them to find
more than one solution so that they can use them in increasing the effectiveness and
uniqueness of their solution. Hence it is pretty evident that the urge of the individuals or the
professionals to join the race to identify the so called “correct solution” is one of the prime
individual block that restricts them from the creative and innovative thinking.
On the other hand, Fernández-Abascal and Díaz (2013) highlighted one of the crucial
fact while claiming that the emotions of the individuals is one of the major obstacle for them
in thinking creatively. Fernández-Abascal and Díaz (2013) further added that the decision
making in creative thinking is a significantly important aspect and under such situation, the
impact of the emotions of individuals is in need to be managed in an appropriate manner for
the much required success in incorporating the innovative and creative thinking to the process
or the services of the organization. Hence the success in managing the emotions of the
individuals is significantly influential in the improvement of the capability of the individuals
in providing innovative solutions.

5CREATIVE THINKING AND INNOVATION
Kampylis and Berki (2014) stated that one of the major concern for the organizations
in initiating the creative and innovating thinking is seen to be the personality of the
individuals as majority of the individuals who are bit serious in nature are seen to be closed
for the creative and innovative thinking. However Rawlinson (2017) commented that the base
of the civilization is largely the shared values, ethics and consistency with the thought
process of the individuals and none of them has any sort of issue with it and all accepts the
necessity of abiding by it. On the other hand, Ritter and Dijksterhuis (2014) also added that if
the group thinking is all what functions the society, then the individuals or the professions are
expected to tear apart the seriousness and think out of the box. Hence it is visible that the
nature of being serious and avoiding the scope of ambiguity is a genuine obstacle for the
individual and creative thinking.
Apart from this, Santos et al. (2016) highlighted that the apathy of the individuals in
trying out different tactics for solving the issues is one of the major individual barrier for
creative thinking and along with that, the intentional or forceful follow up of the arbitrary
rules is considered be one of the crucial individual block as well. Many of the organizations
are seen to have specified way of dealing or operating and when an individual comes up with
the question of why or why not in relation to the practices of those rules, the authority comes
up with a statement bit like “ everyone does in that way”. This is significantly demotivating
for an individual in thinking creatively or innovatively as he or she has the knowledge of
lesser possibility of getting any sort of recognition or the application of the outcome of his or
her innovative thinking.
Enhancement of the creative thinking:
The enhancement of the individual creative thinking is possible with the
establishment of the participative management from the part of the management of the
organization as that have the potential of involving the employees of the organization in the

6CREATIVE THINKING AND INNOVATION
decision making and it will certainly play a crucial role in avoiding their concern of not
getting any fruitful or required attention for their creative and innovating ideas. Apart from
this, avoiding the seriousness through accepting the ambiguity will be crucial for the
individuals in improving their approach towards the creative and innovative thinking.
Rawlinson (2017) highlighted the fact that the individuals are expected to take part in the
brainstorming activities as that will be crucial for them in overcoming the impact of their
emotions and in getting involved in finding a range of applicable solutions.
Conclusions
On a concluding note, the necessity of incorporating the innovative and the creative
thinking in the products and the services of the organizations is observed to increase in a
rapid manner and under such situation, the efficient reduction of the barriers of individual
creative and innovative thinking such as the emotions, urge of finding the correct solution
only, the apathy of the individuals in thinking out of the box, personality traits or the strict
guidelines of the organizations in following the rules has great significance in the
organizational context. The initiation of the brainstorming activities, practice of Osborn
checklist or the six thinking hats is notably crucial in enhancing or promoting the individual
creative thinking.
Recommended Plan
The following actions have the potential to enhance the individual creative thinking
amongst the employees of the selected organization:
1. Getting rid of boundaries:
The effective avoidance of the individual barriers such as the impact of the
emotions or the personality traits will be crucial for the employees of the selected
organization in the effective improvement of the creative thinking. The individuals are

7CREATIVE THINKING AND INNOVATION
expected to identify the reasons of any of the practices that they are asked to conduct
and the identification is in need to be conducted without any sort of impact of the
emotions of them. In a nut shell, the individuals are required not to think or take
decisions while emotions are running high.
2. Brainstorming:
The individuals are expected to take part in the brainstorming activities so that
they be able to think creatively. This will also allow them to gain different views and
opinions of the other individuals which can help their thinking or help them in
providing a better and improved solution to the selected organization. In addition to
this, the individuals are expected to take part in other creative thinking activities such
as the Osborn Checklist or the six thinking hats for improving their thought process
and providing unique solutions to the modern problems.
The participation of the individuals in the engagement activities will be crucial in
allowing them to gain a vast knowledge regarding the problems and along with that, it will be
crucial for the individuals in achieving a 360 degree evaluated information of the problems
for the identification of the best suited innovative solution. The company needs to come up
with an attractive rewarding policy for promoting or motivating the employees or the
individuals to think creatively and innovatively. This will be crucial in creating an
environment that promotes the importance and necessity of the continuing the experiments of
achieving improved solutions.

8CREATIVE THINKING AND INNOVATION
References
Baer, J., 2014. Creativity and divergent thinking: A task-specific approach. Psychology
Press.
Banknizwa.om (2019). Bank Nizwa Registers 97% Growth In Net Profit In Q3 2018 | Bank
Nizwa - First Islamic bank in Oman. [online] Banknizwa.om. Available at:
https://www.banknizwa.om/news/2018/october/29/bank-nizwa-registers-97-growth-in-net-
profit-in-q3-2018/ [Accessed 2 Mar. 2019].
Banknizwa.om (2019). Our Story | Bank Nizwa - First Islamic bank in Oman. [online]
Banknizwa.om. Available at: https://www.banknizwa.om/about/our-story/ [Accessed 2 Mar.
2019].
Birgili, B., 2015. Creative and critical thinking skills in problem-based learning
environments. Online Submission, 2(2), pp.71-80.
Carmeli, A., Gelbard, R. and Reiter‐Palmon, R., 2013. Leadership, creative problem‐solving
capacity, and creative performance: The importance of knowledge sharing. Human Resource
Management, 52(1), pp.95-121.
Fernández-Abascal, E.G. and Díaz, M.D.M., 2013. Affective induction and creative
thinking. Creativity Research Journal, 25(2), pp.213-221.
Kampylis, P. and Berki, E., 2014. Nurturing creative thinking. Educational Practice Series
(25).
Rawlinson, J.G., 2017. Creative thinking and brainstorming. Routledge.
Ritter, S.M. and Dijksterhuis, A., 2014. Creativity—the unconscious foundations of the
incubation period. Frontiers in human neuroscience, 8, p.215.
Sadler-Smith, E., 2015. Wallas’ four-stage model of the creative process: More than meets
the eye?. Creativity Research Journal, 27(4), pp.342-352.

9CREATIVE THINKING AND INNOVATION
Santos, S.D., Memmert, D., Sampaio, J. and Leite, N., 2016. The spawns of creative behavior
in team sports: A creativity developmental framework. Frontiers in Psychology, 7, p.1282.
Bibliography
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https://assets.kpmg/content/dam/kpmg/ae/pdf/Oman-banking-perspectives-2018.pdf
[Accessed 2 Mar. 2019].
Wallas, G., 1926. The art of thought.
Wechsler, S.M., Saiz, C., Rivas, S.F., Vendramini, C.M.M., Almeida, L.S., Mundim, M.C.
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