Assignment 5 - Innovation and Creativity

Concepts of Innovation and Creativity
1. Innovation: Innovation means creating new ideas and is a driving

force towards corporate reimagining. Companies that innovate can shift
the organization into a new paradigm to uncover new opportunities and
the best solutions to current problems. Innovation is frequently
perceived as a form of idealization. Collaboration, idealization,
implementation, and value generation are all required for innovation.
The goal is to increase efficiency, effectiveness, or competitive
advantage. Innovation is defined as the successful application of new
ideas.
The following are the four categories of innovation:
I. Incremental
II. Disruptive
III. Architectural
IV. Radical
I. Incremental Innovation: Incremental innovation is critical to a

company's success because it allows it to expand and evolve in
response to consumer and employee feedback as well as a
changing market landscape. Incremental innovation, on the other
hand, does not value change for the sake of change.
Example: An activity that becomes increasingly difficult over time
II. Disruptive Innovation: Disruptive innovation refers to new ideas

and technology that make pricey or complicated products and
services more accessible and inexpensive to a larger market.
Disruptive innovation necessitates enabling technologies, a novel
business strategy, and a unified value network.
Examples: Mini mills shook up the steel business, which had
previously been dominated by the large integrated steel giants of
the twentieth century.
III. Architectural Innovation: Architectural innovation refers to the

destruction of a company's architectural knowledge while keeping
the usefulness of knowledge about the firm's product
components.
Examples: When new products or services employ existing
technology to generate new markets and/or new consumers who
did not previously purchase that thing, this is referred to as
architectural innovation. For instance, the wearable device packed
current cell phone technology into a watch.
IV. Radical Innovation: An invention that disrupts or replaces an

established business paradigm is referred to as radical innovation.
In contrast to architectural or incremental innovation, radical
innovation destroys the present system or process and replaces it
with something completely new.
Examples: Include the iPhone, which set the path for the
contemporary smartphone market, and the combination of
agricultural equipment and sensor technology, which provides
farmers with data that may be used to change the farming
business.
2. Creativity: The term "creative" refers to innovative and valuable

items, such as the airplane, which was a creative creation. The term
"creative" can also apply to the individual who creates the art, as in
Picasso was creative. Creativity then refers to both the ability to make
such works, as in How do we promote the creativity of our employees?
as well as the activity of creating such items, like in Creativity
necessitates hard effort
There are three types of creativity, and they are as follows:
1. Intelligence
2. Knowledge
3. Originality
1) Creative Intelligence: Capability to create new items, ideas, or devise

an innovative solution to a problem. The ability to generate, create,
or discover new ideas, solutions, and possibilities is referred to as
creativity. Crystallized intelligence is defined by acquired information
and the ability to recall it.
2) Creative Knowledge: Knowledge is the information we have acquired
from our forefathers' and present-day experiences. Knowledge is the
accumulation of all things discovered or experienced. Creativity is the
process of putting together previously available information in order
to come up with fresh answers to new challenges.
3) Creative Originality: Understanding the importance of context in

originality leads to a better understanding of our creative process as
well as a more effective learning path: discovering something that
already exists on our own is one of the finest ways to learn.

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Concepts of Innovation and Creativity

1. Innovation: Innovation means creating new ideas and is a driving

The following are the four categories of innovation:

I. Incremental Innovation: Incremental innovation is critical to a

II. Disruptive Innovation: Disruptive innovation refers to new ideas

III. Architectural Innovation: Architectural innovation refers to the

IV. Radical Innovation: An invention that disrupts or replaces an

2. Creativity: The term "creative" refers to innovative and valuable

There are three types of creativity, and they are as follows:

1) Creative Intelligence: Capability to create new items, ideas, or devise

3) Creative Originality: Understanding the importance of context in

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