Innovative and Creative Skills

Innovative & Creative Skills in Business

(BUS2583)

Individual Coursework 2013

Nur Athirah Binti Idris

SCM 019188

Table of Content

No. | Assessment Title | Page |

1 | Question 1-Explaination on Creativity and Innovatiuon | 2 |

2 | Question 2- Components of Innovation | 3 |

3 | Question 3- “Necessity is the mother of Invention” | 4 |

4 | Question 4-Innovative and Creative ways for Business | 5 |

5 | References | 6 |

1. Explain creativity and innovation and in your point of view, why both creativity and innovation are vital in the business context. Support your answers with relevant examples

Based on the dictionary, creativity is defined as having the ability to create, being productive with new ideas, or being imaginative and innovative is defined as the act of introducing something new. In my own words, applying creativity in business is being imaginative and having new ideas in creating a new product or in a production. Innovation in business on the other hand, is defined as introducing or developing an idea or an invention into something that has a value or would be a demand in the market, making a creative new idea come true.

Creativity and innovation are important in business as being innovative is to mature the creative new ideas, to make sure a company is being innovative in inventing new inventions that will satisfy needs and is possible to be produce at an economical cost and also would be a demand in the market. Innovation also is being bold in taking risks because an organization that creates revolutionary products or technologies takes on great risk because they create new markets that might cause them losses in financial.

Example showing that creativity and innovation are necessary in a business is like big company such as the Apple Inc., where every new invention or devices and technology came from a team of managements who innovates their creativity and invented devices and technologies which became one of...