Innovation and Creativity

[Innovation and Creativity]

Question1: Benefits of innovation, design and creativity in attaining established objectives

The corporate sector is characterized with swift radical changes influenced by customer preferences as well as demand-supply changes mounted on various factors in respective industries. In order to comprehensively reflect customer demands as well as prosper in the current competitive society business organization are endorsing innovative techniques in transforming their entities to greater heights. Through innovative productive development, customers are satisfied and the fundamental objective of a business entity is achieved via market maximization as well as gradual increase in profit margins. The notion of product development through design is geared towards enhancing product’s competiveness as well as coping with emerging competition in respective industries. Therefore, designing of products facilitate product differentiation aimed at achieving not only laid down objectives but also competing favorably (Herstatt, 2007, 24). Creative thinking plays an instrumental role in facilitating coordination in the business entities as well as propels an organization to greater heights in terms of efficiency and competiveness. The core aspect of a business organization that influences consistent development is highly affiliated with the established plans and strategies. Based on the learning objective coupled with need for innovation, research and design and creativity in ushering new ideologies formulating a strategic plan based on the factors would not only improve organizational competitiveness but also play a significant role in enhancing unity of direction and productivity.

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