Innovation and knowledge management Essay Example | Topics and Well Written Essays - 2500 words

Innovation and knowledge management - Essay Example This research will begin with the statement that when it comes to the current competitive situations of organizations, innovation has been granted high regard by firms as it has been significantly associated with improved growth and performance through developments in quality, productivity, effectiveness and market shares. Often, the terms â€Å"innovation† and â€Å"creativity† are interchangeably used; however, primary differences can be distinguished between the two. Creativity is an essential step for innovation to be successfully applied. In fact, the current definition of innovation has become equal to creativity plus effective implementation. In the creativity stage, useful ideas are generated while the innovation process involves the course of action and the actual development of these ideas to reality. To simply put it, the innovation first starts with a particular need which brings forth a creative idea. Amabile et al suggest that all innovations start with th e formation of a creative idea. Innovation is therefore defined as a successful and effective achievement of creative ideas that are brought up in an organization. In terms of implementing a physical product or object, product design and development is extremely necessary. As in this stage, concept development, as well as the testing and manufacturing of the product or object, is undergone. When an organization has conceptualized and evaluated their ideas, through product design and development they are able to make them concrete and tangible using a systematic method.