Entrepreneurial creativity is the ability of a company to create a novel or original product or process. In this way, it seeks to generate value for the company; it’s a fundamental piece because it allows it to differentiate itself from its competitors and maintain a good reputation.
Some characteristics of business creativity are as follows:
- It depends on the human talent that the company possesses.
- Creative ideas can land in a product or service that has never been seen before.
- Allows the company to adapt to changes in the market, looking for solutions to face; for example, new competitors.
- The development of creativity depends on policies implemented by the company to encourage its workers to present their ideas freely. This relates to company culture. Thus, the more horizontal the relationship between the staff, the more likely proposals will be shared; for example, to improve the business model.
- Creative teams can learn from past mistakes. In other words, it is a trial-error process.
- A key element to fostering creativity is usually teamwork to encourage the exchange of ideas and experiences.
- Leadership is an important factor in fostering creativity, because it’s from management that the culture and values of the company will be raised.
Creativity and business innovation are like the two sides of the same coin. On the one hand, creativity refers to the generation of ideas.
However, once the ideas are implemented in the production process or the respective good or service, it becomes an innovation.
Creativity is the ability to generate new ideas, while innovation is the incorporation of these new elements to generate value for the organization.
Whatever the nature of these two concepts, they are essential elements for the business world.
DON’T lose sight of them.
