Creativity, Innovation, and Market Performance
Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.
There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas.
There are distinct processes that enhance problem identification and idea generation and, similarly, distinct processes that enhance idea selection, development and commercialisation. Whilst there is no sure fire route to commercial success, these processes improve the probability that good ideas will be generated and selected and that investment in developing and commercialising those ideas will not be wasted.
Creativity, Innovation and Market Performance
In the broadest terms, strategy is about growth. Decision makers are constantly looking for growth, in fact, in listed firms, shareholders demand it and at ever increasing rates.
Decision makers have therefore to decide how to grow. There are a number of growth models and one of them is the Ansoff Model, which is useful for this argument:
a) Market penetration ? existing products in existing markets
b) Market development ? existing products in new markets
c) Product development ? new products in existing markets
d) Diversification ? new products in new markets.
The strategies above suggest, at least, that:
a) There should be a strong correlation between new products and market performance. This is proved correct (Tidd et al, 2005).
b) Innovation is required consistently no matter what strategy is chosen. Existing products in existing markets must consistently improve their cost / performance mix to beat off rivals and innovation is required to find new markets for existing products. It is more obvious that innovation is required when new product strategies are engaged in.
These and other topics are covered in depth in the MBA dissertation on Managing Creativity & Innovation, which can be purchased (along with a Creativity and Innovation DIY Audit, Good Idea Generator Software and Power Point Presentation) from http://www.managing-creativity.com.
You can also receive a regular, free newsletter by entering your email address at this site.
Kal Bishop, MBA
**********************************
You are free to reproduce this article as long as no changes are made and the author's name and site URL are retained.
Kal Bishop is a management consultant based in London, UK. He has consulted in the visual media and software industries and for clients such as Toshiba and Transport for London. He has led Improv, creativity and innovation workshops, exhibited artwork in San Francisco, Los Angeles and London and written a number of screenplays. He is a passionate traveller. He can be reached on http://www.managing-creativity.com
 Google News Updated : Wed, 15 Oct 2008 17:58:10 GMT AMR Plan to Buy 787s Will Update Fleet, Bolster Boeing Program - Bloomberg
Bloomberg - By Susanna Ray and Mary Schlangenstein Oct. 15 (Bloomberg) -- AMR Corp.'s American Airlines said it may buy as many as 100 Boeing Co. AMR overcomes fuel costs to squeeze out small profit AMR 3Q Net Down 74%, To Buy Up To 100 Dreamliners Publ.Date : Wed, 15 Oct 2008 17:24:10 GMT It's officially over: Madonna and Guy Ritchie are divorcing - New York Daily News
New York Daily News - BY LEO STANDORA Madonna's marriage to Guy Ritchie really is kaput , her rep told the Daily News on Wednesday. "Madonna and Guy Ritchie have agreed to divorce after 7 l/2 years of marrige," Liz Rosenberg said in a statement. Video: AP Exclusive: Madonna, Guy Ritchie to Divorce It's Official: Madonna And Guy Ritchie To Divorce Publ.Date : Wed, 15 Oct 2008 14:56:56 GMT Hurricane Omar gains strength and nears Puerto Rico - Reuters
Reuters - By John Marino SAN JUAN (Reuters) - Hurricane Omar strengthened on Wednesday as it bore down on Puerto Rico and the small islands of the northeastern Caribbean, and could be a "major" storm by the time it reaches them, US forecasters said. Omar on the Move. Paloma Next? Hurricane Omar heads for US Caribbean islands Publ.Date : Wed, 15 Oct 2008 16:12:36 GMT Jerry Jones exposed as gutless by Goodell's ruling - FOXSports.com
FOXSports.com - by Ian O'Connor Ian O'Connor is the author of the New York Times bestseller "Arnie & Jack: Palmer, Nicklaus, and Golf's Greatest Rivalry," which Kirkus Reviews calls an "exemplary sports history. Video: Dallas' Adam Jones Suspended Again Give Cowboys credit for not counting on Adam 'Pacman' Jones too much Publ.Date : Wed, 15 Oct 2008 16:52:30 GMT Obama’s spending how much on ads? - Christian Science Monitor
Christian Science Monitor - By Jimmy Orr | 10.15.08 It’s been a week of non-surprises thus far. Dallas Cowboys cornerback Adam “Pacman” Jones has been suspended - again. McCain calls for 'voter fraud' inquiry A stolen election? Publ.Date : Wed, 15 Oct 2008 16:03:33 GMT Migraine-hit Janet Jackson to resume US tour - Reuters
Reuters - By Alex Dobuzinskis LOS ANGELES (Reuters) - A rare form of migraine forced Janet Jackson to cancel several dates on her Rock Witchu concert tour but she planned to return to the stage on Wednesday in Washington, DC, her manager said. Jackson was laid low by migraines Janet Jackson: She's Baaaaack* Publ.Date : Wed, 15 Oct 2008 17:02:47 GMT Polls: McCain forced to play defense in some red states - CNN
CNN - HEMPSTEAD, New York -- New polls out Wednesday in some crucial states that could decide the race for the White House suggest Sen. John McCain is having to defend himself in areas that once were reliably Republican. Union sues over policy banning political material at polling places Pollsters say odds of McCain winning election 'incredibly remote' Publ.Date : Wed, 15 Oct 2008 16:34:00 GMT Increase Online Traffic |
PARLOT::Ebooks, Scripts,
Websites, and more... For the past several years, I have found joy working... Read More If your to-do list seems as long at the end... Read More When stressed or blocked it is wise to make a... Read More This was a very easy article to write. I was... Read More Creativity can be defined as problem identification and idea generation... Read More Have you ever had one of those days when you... Read More Here are some odds & ends I have observed in... Read More Ever been on a project where you had trouble keeping... Read More From time immemorial mankind has wished for an Aladin's lamp,... Read More Did you know that all of your most cherished dreams... Read More Creativity can be defined as problem identification and idea generation... Read More Imagination is the source of creativity. It's a place where... Read More The key to making time for art is the ability... Read More When you hear, "tell me a story," does your mind... Read More It was 8:00 PM and I'd hit a creative wall... Read More Deadlines are something all of us face from time to... Read More Copyright 2005 Cherry Communications/Be Heard SolutionsThe creative arts enhance our... Read More (5 minutes a day) There is no limit to what... Read More You're stepping onto the stage, amidst opening night flurry and... Read More Modern science tells us that on a sub-atomic level --... Read More What's the biggest problem with memory tricks? Remembering to use... Read More We all use tools in our work, and all of... Read More Some years ago, when the world seemed to close in... Read More Leadership, especially in times of change, depends increasingly on the... Read More Inventors make a ton of money when the invention is... Read More
Adsense
websites
The Healing Powers of Journaling
Creativity: The Key To Getting More Done In Less Time
20 Ways to Keep Your Writing Inspiration and Creativity High
7 Things Sapping Your Creativity Right Now
Creativity Management ? Don?t Write, Rewrite
Computer In The Shop? What Do You Do Now?
Characteristics: Creative Types VS Clods!
Mind Mapping
How To Let The Subconscious Mind Do The Creative Work
Lucid Dreaming: Discover a Whole New World
Creativity Management ? Intellectual Cross Pollination
Tap the Creative Inside You
How to Make Time for Art
Telling It Like It Is (Or Can Be)
Produce Creativity: 4 Ways To Motivate Your Melon
How To Increase Creativity... Set Deadlines!
Get your Creative Juices Flowing
True Power Series Part I. Visualization: Image Production and Verbal Thought
Breathing Out Stage Fright
Our Limitless Quantum Reality
Creative Memory Tricks
Re-Energize Your Brain
A New Discovery Of An Old Secret
Creativity: Getting Out of the Box
Are You Inventive Enough to be an Inventor? Some Guidelines to Invention Success!
Affordable and Reliable Web Hosting Starting at $4.49/Month
How A Creation Box Can Work For You
Bring to mind a time when you decided that you... Read More
Overcoming Artists Block (Part 1)
How many times does an artist stare down at that... Read More
Five Basic Steps to Benefit from Your Creativity
The ability to exercise your creativity is even more important... Read More
Gift of a Letter
"What cannot letters inspire? They have souls; they can speak;... Read More
Analysis of The Monkeys Paw by W. W. Jacobs: A Study in Lateral Thinking
I first read The Monkey's Paw as a youngster in... Read More
Connect with Your Inner Artist
In the "Roadblocks to Creativity" e-course, we look at the... Read More
Breathing Out Stage Fright
You're stepping onto the stage, amidst opening night flurry and... Read More
SoulCollage - Combining Collage Fun with Spiritual Practice
SoulCollage? is a unique blend of spiritual practice and the... Read More
Being Creative is Essential for Online Success
Do you have a strategy that ensures your online business... Read More
Top Five Journal Exercises
Keeping a journal is a form of creative expression that... Read More
Riches Through Creative Thinking!
When solving problems after you have exhausted the normal means... Read More
Dancing On Your Brain: The Cha-Cha Effect
My grandmother used to say that the secret to living... Read More
The Elements of Creativity: What-ifs?
What if there is no toilet paper and I am... Read More
Why Creative Visualization Works
Experience has shown that creative visualization works. It is quite... Read More
Codifying Creativity
Can we codify creativity? Within these few words are a... Read More
Creative Thinking The Secret Key To Lasting Success
What is creativity anyway? Well, let us look at the... Read More
Top Ten Creative Strategies for Inspiring Creativity Where You Work and Play
Websites, automobiles, milk cartons, living spaces. Design saturates every aspect... Read More
Push The Right Button
You can live a much more successful life than you... Read More
10 Ways to Thrive as a Creative Artist
1. Connect with your DREAM ? Indulge yourself in a... Read More
Improvisation in Life and the Arts: What I learned from Free Play by Stephen Nachmanovitch
Can you be an artist while you're washing the dishes?In... Read More
Creativity Stereotypes ? Are They Holding You Back?
Here's a quick quiz:1) When I see a see a... Read More
Sing & Be Well
When people find out that I'm a music therapist, the... Read More
Our Limitless Quantum Reality
Modern science tells us that on a sub-atomic level --... Read More
Top Ten Reasons To Start Creativity Coaching
DEVELOP YOUR ARTISTIC CONFIDENCE I'd really like to write but... Read More
Creativity and Inspiration
Creativity for the mystic has special meaning. In the world... Read More
Creativity |