Page 17 - 100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

Asa consequent e tit ille. challenge. facet Of host

ness, from overall strategy to daily operations, is lull of new

problems and opportunities. And the task of just "doing

business" remains. This in itself is difficult enough without

all of these additional burdens. How can a business or any

part of it survive and prosper in the face of such challenges?

By innovating! Virtually every leading authority on business,

including Fortune 500 CEOs, researchers, and consultants, agrees
that there is only one way firms can cope with all the challenges
confronting them in the 1990s, not to mention those they'll have to
face in the twenty-first century. They must be innovative.' Intel,
Johnson & Johnson, Nordstrom, and Hewlett-Packard all inno-
vated in order to survive and prosper. Innovate or evaporate.

INNOVATION AND 101
CRE"TIVE
CREATIVITY PROBLEM
SOLVING
Innovation is how a firm or an indi- TECHNIQUES
vidual makes money from creativity.
3
Organizations, their managers,
and other employees seek to cre-
ate original ideas and concepts
that will end up as innovations,
such as new or enhanced products
or services, processes that in-
crease efficiency, highly competi-
tive marketing campaigns, or su-
perior management. The process of
generating something new is known
as origination.

Something original is something_
new, something that didn't existi
before. Creativity is the proce§§' -ofIetterating som
new that has value. There are many original ideas and con-
cepts, but some may not have value and hence may not be
considered creative. A creation is something original that
has value.

Innovation is the process of creating something new that has
significant value to an individual, a group, an organization,