Creativity and Innovation

Creativity

Creativity means introducing that thing into existence which does not exist before, it may be some thought, some process or a product. It is also said that Creativity is the tendency to generate new ideas, possibilities, that may either help in communicating to others, may be solving a problem or it may be entertaining others. Creativity is the ability of producing something new by imagination. It is also known to be richness of ideas or thinking originally.

We can also demonstrate creativity as inventing something which has not been invented till date or we can also say it as inventing something which exists somewhere else, but we people are not aware of it.

Creativity is also defined as invention of new process of doing something or the other.

Innovation

Innovation is introducing new ideas which lead to the creation of new process, products and services. It is not only invention of some new idea but also introducing it into the market. It means the giving that idea a practical shape in such a manner which leads to new systems, services, products and processes. (http://creative-innovative.com, Not Defined) Innovation includes management restructuring and transformation of technology. It means exploiting new technology and putting out of box thinking to get new value and bringing significant changes to the society.

Innovation is one of the most important drivers of economic growth. Innovation is creating something new. It is also said as invention with introduction.

Innovations are of various such as product innovation, process innovation, supply chain innovation, marketing innovation. Product innovation means introduction of a new product into market. Process innovation is the implementation of new product into the market. Supply chain management is transforming the source of input product by the market and giving the output products to the customers. Marketing innovation is the introduction and implementation of new marketing methods, like costing, packaging and promotion etc.

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