Final - Research Paper Example

Blockbusters Video: Tools and Techniques for Innovation and Creativity Affiliation with more information about affiliation, research grants, conflict of interest and how to contact Blockbusters Video: Tools and Techniques for Innovation and Creativity Blockbuster LLC, which was previously Blockbuster Inc., is an America-based supplier of video game and home video rental services. The company started its business operations as video rental shops (both franchised and owned), later on adding to it business like video on demand, DVD-by-mail, and kiosks.

Blockbuster had up to 60,000 workers at its peak period in 2009. There are approximately 1700 Blockbuster storerooms in the U.S. with locations in 17 nations worldwide. Nowadays Blockbuster LLC faces various unprecedented challenges, worldwide competition, financial uncertainty, and steady, fast, and unpredictable alteration. New ways of thinking are always needed in this business, to tackle the rising complexities in places of work. Innovation is indispensable to the growth of any business, and at the base of innovation lies creativity.

Only by creating new ideas and thoughts, one can be a blockbuster money creator for businesses. Innovation always has to pursue a structured procedure to create the right outputs and at the same time should try to motivate workers to participate and make amazing ideas. This is a hard and difficult exercise which can be accomplished only by those with an innovative civilization, and by those with the right set of tools for creativity. “There are two modes of thinking that INNOVETY uses and juggles between in order to come up with solid business concepts; divergence and convergence.

Through divergence, INNOVETY shows you how to think broadly and expanding ones mind. Once you create a big pile of ideas through divergence, the creative activity does not stop there” (Step 3: Create a Superior Innovation Lifecycle Process 2012 Para 4). In the next phase, INNOVETY assists in narrowing down the thought set into a extremely small set of thoughts which enable further growth. Levels of Innovation: Although the requirement for more innovation is extensively recognized, there is no generally acknowledged view of what innovation means in business context.

Through the evaluation innovations in their marketplaces, this organization has recognized that they have more chances to innovate than they had earlier thought of. It is significant to distinguish that innovation varies in its content. “There can be breakthroughs, which are normally referred to as radical innovations. They may be based on new technology and can create new markets or completely change existing ones. In addition, though, there are incremental innovations, small changes to existing products, services or processes that can also be important” (The Role of Innovation n.d). The degrees of innovation from no alteration to incremental changes, and from there to radical changes are significant in the business world.

Any form of innovation or creativity should progress through several phases, and prior to it is commercial viability. This is right, irrespective of the kind of innovation and creativity brought in a new service, new product, new procedure, an improved business procedure, or in the combination of all these. Reference List Step 3: Create a Superior Innovation Lifecycle Process (2012). INNOVETY. Retrieved from The Role of Innovation (n.d). Palgrave.com. Retrieved from