Creativity & Innovation

Creativity and Innovation are like two sides of the same coin. Creativity and innovation decide the success of an organization or an entrepreneur or an individual. One needs to be creative as well as innovative in the area of business. The famous big corporations are known for their innovation and creativity in their strategies of activities, products and their unique way to run the business. Innovation and creativity help to add brand value and brand image of a company; it is a tool to fulfill the individual expectations of the customers. But nowadays less well known companies are well known for their creative strategies and innovative products (Brem, Puente-Diaz & Agogue, 2016).

This study focuses on the need of the innovation and creativity for personal and organizational development. To show how creativity and innovation are dependent on each other is a prime focus of this study. For this purpose, the study indicates the importance of creativity and innovation. In this study, there less well known companies are taken, and their innovative and creative strategies are explained.

Discussion:

This is a tough job to define creativity and innovation especially since both are more or less connected to each other. Creativity is the action of turning new and innovative ideas into reality. Now, for defining creativity, the term innovation is used. This shows the relation between creativity and innovation. To be creative, one needs to be passionate and committed towards their job and responsibility. A creative mind explores new ideas which were not discovered by others before. Creativity demands one to be thoughtful, and then convert their thoughts into new ideas. A person who thinks a lot will not be considered as creative unless he can covert his view into real ideas (Perry-Smith & Mannucci, 2015).

On the other hand, Innovation refers to the new ideas. One can say that the outcome of creativity is innovation. What comes from an innovative mind is innovation. In details, innovation means the process or method of implementing ideas which will add more value to the organization. The primary object of being creative and innovative is to create value for the organization or oneself. An innovative idea always caters to the needs of the organization (Somech & Drach-Zahavy, 2013). From the discussion, it can be said that one cannot define creativity without innovation and vise verse as both are interrelated to each other.

According to Tschmuck, (2012), creativity and innovation are psychological processes which enable the transformation of ideas to implemented methods. There is not much difference between creativity and innovation. But still, some differences exist between them. They are discussed under:

Creativity means to generate new ideas from thinking. One needs to be a thoughtful person to be creative as new ideas come from thinking. On the other hand, innovation means to implement those new ideas into action. Creative ideas cannot be considered as innovative ideas unless they are not implemented. Creativity is an imaginative process where innovation is a productive process. There is no risk involve in thinking as there is no chance of making a loss of money. But innovation is a risky process as it requires money to implement the creative ideas. Innovation leads to more productivity but not always. There are instances where innovative ideas failed to fulfill the needs of the organization. So there is always risk involves in innovation. One cannot measure creativity as it is a thinking process, but innovation can be measured as it can be implemented (Nijstad, Baas & Gevers, 2015). These are the fundamental difference between creativity and innovation.

Creativity and innovation are dependent on each other in a large manner. The starting point of innovation is creativity. A creative mind always gives birth of innovative ideas. There are some universal principles which a person needs to acquire to become creative and innovative. One needs to be motivated enough to become a creative and innovative person. Without the motivation factor, creative thinking will not come in the mind. Then comes expertise. One should have enough knowledge about his/her chosen field in order to think creatively. Lack of knowledge will hinder his/her thinking. And lastly, one should have the ability to covert the creative thoughts into actionable ideas. Otherwise, those thoughts will be of no use (Vantassel-Baska, 2016).

From the above discussion, it is seen that what starts from the creativity, ends at the innovation. Nowadays creative thinking and innovative ideas have their significance in the business. Every organization wants to be innovative in every aspect to compete with their competitors. The dependency of creativity and innovation on each other helps to add value to the organizations (Litchfield, Ford & Gentry, 2014).

According to Gundry, Ofstein & Kickul, (2014), entrepreneurs are the persons who can generate their business ideas and have the ability to implement them. By implementing the ideas, they can develop and start their own business. There is a huge role of creativity and innovation in entrepreneurship. They have the ability to recognize the opportunities around themselves and take advantage of them. They like to take responsibilities. For this whole purpose, creativity and innovation is needed. The business ideas of the entrepreneurs come from their creative minds, and then they convert them into reality (Yoshida et al., 2014).

 According to Kuratko, (2016), entrepreneurs need to possess a lot of abilities like the capacity for taking responsibilities, an ability for taking the moderate risk, etc. But the most important ability they should have is the ability to think out of the box, and that is the start of creativity and innovation. The main thing which separates entrepreneurs from the others is the presence of creativeness and innovation (Vaccaro et al., 2012).

There is a lot of importance of creativity and innovation in today’s growing world. Nowadays it is utmost important to have creative and innovative people in the business as their presence will distinguish the business from the competitors. The role of creative people in the organization is a vital role. They will help in creating new ideas and formulating effective strategies. Creative people are the assets of an organization. Creativity and innovation is something which can be developed as not all people born with these abilities. Creativity can be prepared by having knowledge, by concentrating. Every organization should hire creative people. But the creative individuals in the organization should be motivated. There should be some reward programs for the creative people of the organization as it will work as a motivator for them (Edwards-Schachter et al., 2015).

According to Sarooghi, Libaers, & Burkemper, (2015), creative innovation helps to create new developed products and services in the area of business. The research and development section of a business nurture the creative ideas and innovate more appropriate methods to satisfy the demands of the customers. Nowadays technological innovation helps small companies to come up with innovative products and services. With the help of creativity, one can solve problems much easier than before. Creativity and innovation also help to increase the productivity of an organization (Runco, 2014).

Innovation is an ability of a person for the transformation of anyone's invention, ideas and thought with a twist. The companies which are not so famous in Australia in the sector of the innovation are Planet Innovation Pty Ltd, Seeing Machines, and ING Direct.

Planet Innovation Pty Ltd is one of the innovative companies which are listed in the Australia and aims in providing services to developing strategic innovation, products which are advanced and developed, manufacturing regulating products, and commercialization. The company also aims in providing innovation in the field of the business in the sector of biotechnology, pharmaceuticals and sector of the health. In the strategic innovation, it is the stage for designing and proving the core technology, for verifying the need for the market and for establishing the concept of the product prior moving to the next phase of the commercialization and development. The product development phase aims in developing sophisticated devices which include "mechanical engineering and CAD, designing of the industries, mechatronics, software, optics, electronics, manufacturing, and science (Anderson et al., 2014).

In the commercialization phase the company aims in providing services related to quality control, compliance related to regulatory, establishing the manufacturing in the region of the low cost, the routes related to market negotiation and selection, support, servicing, and sales marketing. Blamey Saunders, a head hearing solution giver has ventured with the Planet innovation for the development of the new system in the field of a hearing head. This head hearing solution is included in the program enabled in Bluetooth and application of the Smartphone. This solution is named as “Incus", with the use of this solution patients needs not doing face-to-face interaction for adjusting the aid of hearing with that of a real audiologist. The technology of the Smartphone can be easily managed by the system of the hearing aid. The management has implemented this creativity in the innovation. This aid hearing service is providing more relief as compared to any other solution of the hearing aid to the patients all over the globe. In the health sector, it is one of the most innovated solutions which helps in saving time as well as the money of the patients (Planet Innovation,2016).

Seeing machines is another well known company Australia. This company engages in providing solutions in Fleet, Automotive, Mining, Aviation, Railway and Consumer Electronics. This organization has incorporated an image of the portfolio for processing the abilities which are related to eye and opportunity of tracking the face. In the past years, the company is undertaking the program of the rapid improvement in bringing the Distraction Management System and Specific Fatigue (Kobayashi et al., 2012). Due to the weakness in fleet vehicles, the road accidents are increasing at increased rate in Australia. The effect of this has led in utilizing the smart camera and algorithm for tracking the eyes, eyelids and face of the drivers for monitoring the attention and inattention of weakness in the drivers. The device helps in capturing the information. This will help in measuring the attention level of drivers. So real time feedback will be given to the driver. This company provides the protection of the system during the last level which will be adjacent and weakness of the drivers. The solution provides an alarm which is audible and stimulus which will be within the stimulus or the seats which are vibrating. The alarm starts when the driver is in the fatigue and the event of distraction. So with this involvement the company has achieved to decrease the number of fatigue and distraction to 80%. Further, it has engaged in signing an alliance with Takata Corporation for providing the system with a developed safety (Seeing Machines,2016). 

ING Direct is a company which aims at becoming the most important in the then financial institution. The secondary heritage of the bank is meant by a majority of the ING Direct clients are holding an only savings or product of the home loan, and is not considering the ING Direct as the choice for the wide needs of the banking. ING DIRECT perceives that an ordinary exchange record is the center money related item for most of the Australians, So for expanding Orange Everyday exchange records was the way to their objective of turning into their clients' essential bank. In 2014, it created by another client recommendation to empower new and present clients to move the regular banking in ING DIRECT. In the industry to start with, initial rates were eliminated on the item of Savings Maximizing. It was supplanted with another recommendation located around continuous client devotion. Clients who were using ING DIRECT as major fundamental budgetary foundation get a progressing reward loan cost on the investment funds (to procure one of the most noteworthy rates in the business sector) while moving their pay into Orange Everyday record. This new recommendation gives clients true serenity, realizing that they are getting an awesome arrangement that isn't just for a restricted starting new client stage. As an extra reward, Orange Everyday clients who store their pay into their record every month to have free access to each ATM in Australia, independent of the sum they are pulling back (Enachescu & Damasaru 2013).

These advancements had huge effect which includes, a triple increment in quantity of client for opening an Orange Everyday item; 65% development in the prior 12 months of clients who now utilize ING DIRECT as their center monetary establishment; and a business sector is driving Net Promoter score for Primary Bank clients of more than 40. Moreover, the stage of rivalry for ordinary keeping money items in the Australian business sector has in this manner expanded, giving more noteworthy choices and upgraded esteem for every single Australian shopper (ING DIRECT, 2016).

Conclusion 

Finally for concluding the above discussion it is said that the essay has clearly fulfilled the topic given for the discussion. The essay has clearly defined creativity and innovation in the beginning, which says creation is related to the invention or can be said that it is a synonym of ‘Creativity.' Whereas, Innovation is implied as the factor which is in advanced with the invention, innovation can be defined as an act which adapts and takes the thought, idea of the another author and moves toward in the development of the product. Further, the discussion includes a difference between innovation and creativity, which has been clearly defined in the above paragraph. It also includes dependency of the creativity and innovation on each other and how this will be getting affected in each other. With the example and case, it has been clearly stated above. The role of entrepreneurs in the process of the innovation and creativity. This will also help to know the role of manager and executive in the company. The discussion further includes importance or advantage or benefit of creativity and innovation and its effect on the company. The further discussion includes a study on the ‘less well known' companies in the Australia and discussion has been done on the innovation, creativity which the companies have engaged in the recent years. The discussion includes products, services which have done by the companies and explanation of the most innovated and products in the above three companies have been clearly discussed.

References:

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