SHR044-6 Bank Muscat: Continuous Creativity and Innovation Report

This report analyzes the implementation of creativity and innovation within Bank Muscat, focusing on how the bank mobilizes and sustains continuous innovation. The paper examines the role of HRM in fostering innovation, highlighting practices such as training, brainstorming, and encouraging innovative ideas. It explores transformational leadership's impact and discusses various innovation theories like dual and open innovation, crucial for enhancing the bank's competitive advantage. The report concludes with recommendations for improving innovation and productivity, emphasizing the importance of an open work environment, employee motivation, and addressing challenges in innovation implementation. It emphasizes the need for leadership strategies and the utilization of tools to encourage creativity among employees within Bank Muscat.

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Creativity and Innovation

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Contents
Introduction......................................................................................................................................3
Analyse the mobilize creativity and innovation to support continuous innovation.........................4
Process of creativity and innovation by using contemporary theories............................................6
Conclusion and Recommendations..................................................................................................7
References........................................................................................................................................8

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Introduction
The creativity and innovation in the banking sector will be discussed in this paper. This paper
will be based on the analysis of the mobilize creativity and innovation in the Bank Muscat as the
innovation is very important in the working operations of the bank. Bank Muscat is an
organization that provides financial services in the Sultanate of Oman and also provide corporate
banking, retail banking and several other banking processes. The bank works to encourage the
creativity and innovation among the people. This paper will be discussed about the various
aspects related to creativity and innovation used in the organization that helps in managing
continuous innovation. The process of creativity and innovation in the organization will also be
discussed in this paper. The creativity and innovation plays a major role in the Bank Muscat as it
supports the business environment in managing the innovative process. The promotional aspects
of creativity and innovation and its recommendations will also be discussed in this paper.

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Analyse the mobilize creativity and innovation to support continuous innovation
Creativity and innovation are the two important aspects that supports in the management of the
organization. Bank Muscat adopted the model of creativity and innovation to improve the overall
continuous innovation in the business. The continuous innovation helps to provide different
financial services to the customers. (Arshi and Chugh, 2013).
The process of the creativity and innovation provides several advantages to the innovation to the
Bank Muscat. The actions of the business organization become more creative by using the
innovative ideas. Bank Muscat needs several innovations in their business to make the operations
flexible and to help the customers for different purpose. It has been analyzed that innovation is
the key competence and it provides the necessary competitive advantage to the organization
(Amabile, 1988). All the complexities of the business organization can be reduced by using the
proper process of innovation.
The innovation process is important for the bank Muscat as it is used by the HRM process of the
bank that encourages the individuals and increases their business position in the overall
environment of the banking sector (Isaksen and Treffinger, 2004). For all this process, the bank
needs HR process to implement the innovation in a proper manner. The HRM manages the
employees to use innovative ideas in the banking sectors. HRM plays a major role in
implementing the creativity and innovation in the respective organization.
The concept of innovation is essential in the team environment of the Muscat bank. The
innovation is applied in creativity and it improves the work process of the employees in the
organization. The innovation is also beneficial for the employees of the Bank Muscat as it
increases the innovative ideas among the employees and the innovative employees manages the
overall productivity in the organization. These innovative employees execute the new process to
achieve the competitive advantage (Loewenberger, et al., 2014). The promotion of creativity and
innovation include several steps discussed below-
 Give the proper reason to use innovation
 Define the importance of innovation to the company
 Schedule the brainstorming sessions
 Give the training to the employees to become innovative

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 Encourage ‘Spying’
 Support the innovative ideas used in the organization
 Tolerate the mistakes occurred in the creativity and innovation
The transformational leadership is also essential in the process of innovation as the leaders that
use this leadership apply simulation and foster innovation to refine the several new problems and
approaching the old situations in new ways (Loewenberger, 2015). This leadership is very much
beneficial in implementing the creativity and innovation in the Bank Muscat of Oman.

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Process of creativity and innovation by using contemporary theories
The creativity and innovation in the banking services are essential and it indicates the new goods
and services which are provided by the business to satisfy the needs and desires of the customers
(Bucherer, et al., 2012). Creativity and innovation are more essential for the overall process of
banking services like financial services and investment services. Several business uses the
disruptive innovation strategies to define the proper value of time as per the recommendations
regarding the strategic business. Bank Muscat is very popular among Oman as it provides the
financial services to the customers with better quality.
The use of creativity and innovation in the bank helps in searching for the better development of
products and services. These two aspects plays a major role in achieving competitive advantage
in the banking sector and also used to attract the customers (Yogun, 2015). It has been
determined by the analysis that creativity and innovation are two crucial aspects in the banking
sector as it also works to improve the overall marketing process.
As compared to the disruptive innovation, dual innovation is better theory applied in the banking
sectors. The dual innovation is used to run the core business in an effective manner. The dual
innovation includes development, testing and validate innovations outside of the core business
and integrate the number of best innovations to the work in a reliable manner (Suifan and Al-
Janini, 2017).
The other main theory is open innovation in which innovative ideas can be used by the
organization in an open manner and it is also used to set the several challenges for the Muscat
bank to fulfil the requirements and desires of the customers (Jyoti and Dev, 2015). The open
innovation is a better aspect of innovation as it cannot hide anything from the employees and
also encourage them to support the company in implementing creativity and innovation. The
companies make a proper structure of the innovation to attract the customers that adopt the
financial services.

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Conclusion and Recommendations
The main aim and objectives of the report are directly relate to the implementation of creativity
and innovation in the Bank Muscat and increase the value of the business. The objectives relates
with the use of innovative ideas to improve productivity which can be fulfilled by using the
several theories of innovation. The above report has been concluded regarding the impact of
creativity and innovation in the related organization and innovative ideas used to improve the
productivity of the organization. The above information defines the several aspects of HRM
related to the innovation used by the organization. As the HRM plays a vital role in
implementing the innovation. The different parts related to promotion of innovation has been
discussed above. The leadership also plays an important role in innovation as the
transformational leadership provides several benefits to the organization that has been discussed
in the above information. The transformational leaders adopted several theories of innovation to
complete the work in an innovative and in a smart way. Several information regarding the
creativity and innovation in the Muscat bank has been briefly described in the above information.
The process of mobilizing the creativity and innovation is also described. As the mobilization
improves the use of innovative ideas in the particular aspect of innovation. The innovation
theories are also discussed in the above areas as these theories are essential to implement the
innovation.
The implementing of innovation in Bank Muscat is very essential so it is important to implement
the innovation in the bank in a different manner and also analyse the several improvements
regarding the implementation of creativity and innovation. The several recommendations are
considered to improve the innovative ideas among the employees and the improvement of
productivity in the respective organization (Al-Belushi, et al., 2015). The organization need to
face several challenges occurred in the implementation of innovation as these challenges
implemented in various ways. Effective innovation improves the productivity of the bank and
increase customers. The organization need to adopt the different strategies to improve the
innovational aspects as the organization adopt several leadership theories to analyse the proper
implementation of creativity and innovation. The innovation also needs the proper management
strategy to increase the different aspects of the organization. The organization needs to motivate

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the overall team to use innovative ideas in a better way (Riffai, et al., 2012). The encouragement
in diversity is also important to mobilize the creativity and innovation in the Muscat bank of
Oman. The tools are also required by the leaders and employees to implement innovative ideas in
the organization. The Muscat bank needs to make an open and creative work environment to
improve innovation and creativity in the process of the business (Zhou and Li, 2012).

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References
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Amabile, T.M., 1988. A model of creativity and innovation in organizations. Research in
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Arshi, T. and Chugh, G., 2013. Strategizing for Innovation: An Empirical Investigation on
Strategic Orientation and Innovation Types. Business and Management Horizons, 1(1), pp.138-
152.
Bucherer, E., Eisert, U. and Gassmann, O., 2012. Towards systematic business model
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Isaksen, S.G. and Treffinger, D.J., 2004. Celebrating 50 years of reflective practice: Versions of
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Jyoti, J. and Dev, M., 2015. The impact of transformational leadership on employee creativity:
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Loewenberger, P.A., 2015. Creativity, innovation and human resource development. Palgrave
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Loewenberger, P.A., Newton, M. and Wick, K., 2014. Developing creative leadership in a public
sector organisation. International Journal of Public Sector Management.
Riffai, M.M.M.A., Grant, K. and Edgar, D., 2012. Big TAM in Oman: Exploring the promise of
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Suifan, T.S. and Al-Janini, M., 2017. The relationship between transformational leadership and
employees’ creativity in the Jordanian Banking Sector. International Review of Management and
Marketing, 7(2), pp.284-292.

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Yogun, A.E., 2015. Cyberloafing and Innovative Work Behavior Among Banking Sector
Employees. International Journal of Business and Management Review, 3(10), pp.61-71.
Zhou, K.Z. and Li, C.B., 2012. How knowledge affects radical innovation: Knowledge base,
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