Most people tend to confuse these two words. What is innovation? When somebody else is doing something great, you study it so that you can apply it to your own context, then you are innovative. Today, the business model fad is the sharing economy. Uber is already in Uganda. Many business people are trying to copy the Uber business model. They are trying to be competitive so that they don’t run of business. In that case, they are copying and pasting but with a twist thus are being innovative.
On the other hand, to be creative is to make something that has never existed. For Christians, you have read in Genesis, the story of creation. God created things that never existed at all. Creativity requires huge investment in money to ensure that people have a lot of time to think and make mistakes until they get it fine. Unless a country has a lot of resources to spend on people for research, you can’t be creative. Creativity requires a lot of thinking. Trial and error. And massive investment.
The best way to succeed in business, focus on competitor intelligence. Study about the competitor, and get fresh ideas.
For many economies especially developing countries, we need to nurture innovation. The best way to succeed in business, focus on competitor intelligence. Study about the competitor, and get fresh ideas. Innovation is all about studying and applying. Creativity is doing something from scratch – it requires a lot of originality.
Let your staff focus on innovation other than trying to invent the wheel. It is costly to invent the wheel. Focus on improving what is already existing.
