Running head: Innovation, Design, and Creativity
Innovation, Design, and Creativity
This is a short summary paper to define the main roles of innovation, design, and creativity while incorporating their importance for a firm to meet their organizational objectives.
The Business Dictionary defines innovation as “The process of translating an idea or invention into a good or service that creates value or for which customers will pay” (Business Dictionary Online, 2013). Using this definition it is easy to infer that innovation is the stepping stone for a company to create new goods/services that are efficient and profit-producing. It is essential that a company incorporate innovation into their designs, as the world is a competitive market and innovative organizations stay in the lead. In most circumstances, the organizations objective includes being a profitable company and a leader in the products they product, this makes innovation an important part of the organizational objectives. Design
Using The Business Dictionary again design is defined as “Realization of a concept or idea into a configuration or specification… and which helps achieve the item's designated objective(s).” Design is putting into perspective how a concept is working and how it can work better. Design is the beginning of a product and lasts throughout the lifeline of the product. It could be said that design comes after innovation as innovation is the process of transferring an idea into a product that can be sold, and design is keeping that idea alive and working. Design is important to organizational objectives as it a process of experimenting and creating new solutions to any existing or predicted issues. This could save the company money in the future or create a bigger profit in the present. Creativity
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