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INNOVATION AND CREATIVITY - Coggle Diagram
INNOVATION AND CREATIVITY
2 types of innovation
PRODUCT INNOVATION: Relates to the final product
PROCESS INNOVATION: Relates to how product is produced
ADVANTAGES
Improved productivity
Increased brand recognition
DISADVANTAGES
Falling productivity
Falling behind competitors
CREATIVITY
METHODS OF PROMOTING CREATIVITY
Brainstorming
rewards
Create a culture where "it's okay to make mistakes"
Provide training or weekly classes on how to intrapreneurial
ADVANTAGES
Promotes intrapreneurship
Boost employee confidence by making them work harder
CHALLENGES WITH CREATIVITY
Some employees prefer to be given instructions and just follow them.
employees can take advantage of the autonomy which could damage business reputation and decrease in sales
INNOVATION