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  In today’s world of business, where it seems like everything is moving and fast-changing, the secret to being ahead and succeeding as a business is largely dependent on your level of creativity and innovation.
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Creativity and innovation work hand in hand. Creativity has to do with creating new or unique ideas, while innovation is the implementation of the ideas. Creativity births innovation, and innovation births competitive advantage as it puts you ahead of others. Many organizations today do not only prioritize intelligence when hiring but go through a system to ensure individuals they hire possess creative skills. This article aims to enlighten you on the role creativity and innovation play as regards business expansion. The goal of every organization is to grow, not just that but also succeed. To achieve this, creativity and innovation are crucial elements required in the organization. Without them, processes will continue to run as they used to, and cash flow will not change. Ways in which creativity and innovation affect business includes:

  • Increased Productivity

When new ideas are birthed and implemented, processes change, problems that become opportunities are identified, and productivity increases. The increase in productivity translates to constant and more cash flow in the long run.
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  • Competitive Advantage

What differentiates business A from business B is each party’s Unique Value Proposition (UVP). The UVP is a result of creativity and innovation. Having a new idea is not enough, but implementing it in a way that saves time, saves cost and serves your customers better, gives you an advantage over your competition. Many businesses crash because they fail to innovate around processes to please their customers. Being innovative requires you to tweak what is already in existence or come up with something entirely different.
  • Development of New Products And Penetration of New Markets
When creativity and innovation are the core values of any organization, they always aim to churn out new products and services to serve their customers better. They also aim to develop ideas and strategize on ways to get their products and services into more markets. Although creativity and innovation are not so easy to identify in an organization, it requires that you think outside the box, focusing on what others are less concerned about. It is a process that has a lot to do with receiving feedback. The role of creativity and innovation cannot be overemphasized in a business as it is the secret to effective and successful companies. Featured Image Source: Plopdo
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This article was first published on 16th October 2021

grace-christos

Grace Christos Is a content creator with a proven track record of success in content marketing, online reputation management, sales strategy, and so much more.

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