Stimulating Innovation and Creativity: The Way Forward

One of the most difficult challenges that companies face today is the rapidly changing market and its highly competitive environment. Those companies that are unable to adapt and correspondingly innovate face stiff competition. Continuing our discussion on innovation and technology development, my current note explains how stimulating innovation and creativity in technology development can be used by companies to remain competitive in the market and further produce innovative products and services that meet customer requirements. Companies and the market, in general, have benefited from technology-driven improvements, such as efficient and effective products and services that provide value for money.

Companies must exploit their innovative capabilities by developing and using innovation programs and techniques. Innovation management starts with idea generation, so a theory of how to improve ideas (creativity) marks a contribution to this field.

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