How Innovation and Creativity can Benefit an Organisation, Its Customers, and Stakeholders

How Innovation and Creativity can benefit an organisation, its customers, and stakeholders. The present age of globalisation, deregulation, and acquisitions has led to increased competition and rapid technological advancement. Today’s organisations are increasingly looking toward Creativity and Innovation as a business strategy to enable them to compete and survive. The past widespread use of management initiatives such as, ‘low cost outsourcing’ ‘downsizing ‘business re-engineering’ and over the counter IT enterprise packages ERP, SAP , ‘Six Sigma’/’Kanban’ lean manufacturing have all played their part providing a competitive edge of lower costs and reduced expenses by streamlining internal processes. Nevertheless, with the majority of companies now having followed suit these methods have become commonplace and are now less effective. Trott (2008), states that corporations must be able to adapt and evolve if they wish to survive. And goes on to say the dominant companies that have established themselves as technical and market leaders (Apple & Nokia cell phones), (eBay & Google new services), (Pfizer & GlaxoSmithKline pharmaceuticals) and (Microsoft SAP computer software) have shown a unique inventive ability to develop successful new products. Furthermore, it is likely the success of these companies has led to the increased interest now in creative development and innovation as a strategy, for once established provides enhanced consumer products and benefits to the organisation, by way of increased growth and financial reward for its workforce, shareholders, and all its stakeholders. Ultimately, innovation of the kind here can give far-reaching economic, social, and environmental benefits by improving Health, Communication, live...

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... that it be handled separately from the everyday running of the business.

To summarise, the results here suggest that an organisation engaging in innovation, when setting its strategies, needs to be mindful of the creative environment required and how it can affect creative people. Although there are other factors to consider, it is unlikely, in an organisation, whose systems, policy, rules, and attitudes are geared to profit- making that innovation will take place on any great scale among the everyday activities of generating revenue. Inadvertently, these systems are barriers to creativity they do not offer time, resource or give tendency for it to take place. However, by understanding the principles of creativity and innovation and implementing a specific strategy to support this and help develop a creative climate could be of benefit to many organisations.