Role of Creativity and Innovation in Transforming a Business Essay

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Innovation, and the Rules of Innovation

Creativity

Creativity refers to the act of converting new and creative ideas into reality. It is classified by the ability to understand the world in new ways. It is the ability to identify invisible styles, to make relationships between apparently unrelated phenomena, and to produce solutions. Creativity includes two processes: thinking and generating. Anyone with ideas, but not acting on them is considered as creative but not innovative. Creativity is about releasing the potential of the brain to conceive new concepts. Those ideas could reveal themselves in any number of possibilities, but most often, they become something that can be touched, smelt, seen, heard, or tasted. However, creative suggestions can also be thought tests within one individual's mind. Creativity is highly subjective, making it challenging to evaluate the innovative capacity of an individual (Hunter & Bedell-Avers, 2008).

Innovation

Innovation is the execution of a new or considerably enhanced product, service, or process that makes the value of a company, government, or community. Unlike creativity, innovation is measurable. It is about presenting change into some relatively constant systems.

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It is also involved with the work required to make a concept more practical. While determining an unknown and unmet need, a company can use innovation to implement its inventive sources to design appropriate products for the realization of its investments. Companies often pursue creativity when they are expected to focus on innovation. What is often missing is not creativity in the sense of creating ideas, but innovation in the sense of producing action, including putting concepts to work (Hunter & Bedell-Avers, 2008). Particularly, Square is concerned with innovation since its plug-in system helps an incredible number of mobile providers and small company proprietors. They are not confined to cash payments or costly credit card devices. Square observed that the economic system was rapidly becoming digital and offered clients a way to keep up.

The rules of innovation

In the business world, there are three key rules of innovation as described below:

Rule One: Manage Creative Friction

The incorrect friction in teams may make individuals hate each….....

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