| Creativity can be defined as problem identification | | | | Microsoft can increase the quality of its Windows |
| and idea generation whilst innovation can be defined | | | | operating system but that may not lead to an |
| as idea selection, development and commercialisation. | | | | increase in value for the customer. This is especially |
| There are other useful definitions in this field, for | | | | true when a product reaches maturity, as options for |
| example, creativity can be defined as consisting of a | | | | improving the cost/performance mix begin to dwindle |
| number of ideas, a number of diverse ideas and a | | | | after years of improvement.b) Value is the worth of |
| number of novel ideas. | | | | the package as a whole and the relationship to the |
| There are distinct processes that enhance problem | | | | quality of each part of the package is tenuous. For |
| identification and idea generation and, similarly, distinct | | | | example, Microsoft increased the value of the |
| processes that enhance idea selection, development | | | | Windows package by adding Internet Explorer. |
| and commercialisation. Whilst there is no sure fire | | | | Neither of the two products was optimised for |
| route to commercial success, these processes | | | | quality but together they made a more valuable and |
| improve the probability that good ideas will be | | | | irresistible offer to the customer. |
| generated and selected and that investment in | | | | These and other topics are covered in depth in the |
| developing and commercialising those ideas will not be | | | | MBA dissertation on Managing Creativity & |
| wasted. | | | | Innovation, which can be purchased (along with a |
| Value versus Quality | | | | Creativity and Innovation DIY Audit, Good Idea |
| Most firms attempt to add value to their products or | | | | Generator Software and Power Point Presentation) |
| services in order to increase sales and prestige. | | | | from |
| However, few appreciate the difference between | | | | You can also receive a regular, free newsletter by |
| value and quality. But by doing so, they can more | | | | entering your email address at this site. |
| finitely increase their options for adding both value | | | | You are free to reproduce this article as long as no |
| and quality.a) Quality is directly related to the product | | | | changes are made and the author's name and site |
| itself. A firm can increase a product's quality, but that | | | | URL are retained. |
| increase may or may not be profitable. For example, | | | | |