The paper "Creativity and Innovation in Business" is an outstanding example of a business literature review. With globalization taking shape in the business arena, companies are faced with challenges of competition and how to satisfy customer needs and wants. To remain competitive, therefore, companies must devise various strategies so as to provide value to their customers. The major strategies for any business are usually creativity and innovation. Currently, creativity and innovation are considered the most significant topics being researched, more intensely and frequently. Each idea, no matter how resourceful or effective, will ultimately require to be substituted with a new one (Getz & Robinson, 2003, p. 130).
However, some business managers, as humans tend to stick to their old beliefs, mental models and ideas for a longer time than they ought to. For example, Henry Ford notably insisted on abiding to produce the Model T for a long time after other market players had created dazzling new vehicles which considerably cannibalized the success of his once best-selling car (Getz & Robinson, 2003, p. 132). Based on this realization, this paper defines and assesses creativity and innovation in business. Creativity and innovation in business According to Amabile et al (2005, p. 367), creativity is described as people’ s capability to transform their perception of realism.
By changing perception they can then make new hypotheses, ideas, approaches and other approaches in life. On the other hand, innovation is defined as a transformation in reality (Amabile et al 2005, p. 367). Innovation implies taking a current idea like the new product, business model and service concept and changing it to reality. Similarly, in business, business managers must change the view on how they conduct day to day business.
Getz & Robinson (2003, p. 131) argues that Companies capable of creativity, innovation and differentiation of their products or services from rivals are on averagely twice as advantageous as other companies.
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