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Exploratory and value-added innovation require different leadership styles and behaviors to succeed. [14] Value-added innovation (PwC, 2010) involves refining and revising an existing product or service and typically requires minimal risk taking (compared to exploratory innovation, which often involves taking a large risk); in this case, it is most appropriate for a leader for innovation to ...
Professor Clayton Christensen has defined "disruptive innovation", and by extension disruption, in a different way. For him, disruption is the process of newcomers penetrating at the low end of a market and then moving up the value chain. Jean-Marie Dru has always promoted a broader definition and practical business applications.
According to Stoll and Temperley (2009, 69–74), creative leaders foster conditions that can help to inspire creativity in others. These conditions include: "stimulating a sense of urgency if necessary, exposing colleagues to new thinking and experiences, providing time and space to facilitate the practicalities; setting high expectations, promoting individual and collaborative creative ...
Innovation management allows the organization to respond to external or internal opportunities, and use its creativity to introduce new ideas, processes or products. [2] It is not relegated to R&D; it involves workers or users at every level in contributing creatively to an organization's product or service development and marketing.
Creative entrepreneurship is the practice of setting up a business – or becoming self-employed - in one of the creative industries.The focus of the creative entrepreneur differs from that of the typical business entrepreneur or, indeed, the social entrepreneur in that they are concerned first and foremost with the creation and exploitation of creative or intellectual capital.
Radical innovation: "establishes a new dominant design and, hence, a new set of core design concepts embodied in components that are linked together in a new architecture." (p. 11) [28] Incremental innovation: "refines and extends an established design. Improvement occurs in individual components, but the underlying core design concepts, and ...
The creative industries have been seen to become increasingly important to economic well-being, proponents suggesting that "human creativity is the ultimate economic resource", [7] and that "the industries of the twenty-first century will depend increasingly on the generation of knowledge through creativity and innovation". [8]
The Design of Business: Why Design Thinking is the Next Competitive Advantage is a 2009 book by Roger Martin, Dean of the University of Toronto's Rotman School of Management. [1] In the book, Martin describes the concept of design thinking, and how companies can incorporate it into their organizational structure for long term innovation and ...