Entrepreneurship Q&A

Thank you for the exciting question @Eloah Paes Ramalho . I hope my personal story helps give you some creative ideas on how you can make innovation an integral part of any business.

What is the difference between creativity and innovation?

There is a big difference between creativity and innovation. Creativity is the process of creating something from nothing. It can be an original idea or the result of combining different ideas.

On the other hand, innovation turns an existing idea or product into a new and improved version. It can be a creative solution to a problem or the result of applying new technology to an old product.

Can you have both creativity and innovation?

There is a lot of debate around whether or not you can have both creativity and innovation. Some say that creativity is more about coming up with new ideas, while others believe that innovation is more about turning those new ideas into a reality. The truth likely lies somewhere in between these two extremes.

However, it's important to remember that creativity and innovation are not mutually exclusive. It can both be essential components of successful businesses and creative projects.

How can you achieve both creativity and innovation in business?

There is no one answer to this question, as it depends on the individual business and its specific needs. However, there are a few general tips that can help achieve both creativity and innovation in business as follow:
 

1. Encourage employees to be creative and innovative. It can be done through praise and recognition and providing opportunities for employees to experiment and try new things.
 

2. Create an environment that is conducive to creativity and innovation. It means providing ample space for employees to work in, promoting collaboration among team members, and encouraging a relaxed work ethic.
 

3. Make use of technology tools that support creativity and innovation. For example, you can use software that helps employees brainstorm new ideas or tools that help them develop prototypes of their ideas.
 

4. Experiment with new business models and strategies. It can help you find new ways to market your products or services and explore new ways to generate revenue.
 

My Success Story
 

I want to share my personal story to suggest how you can introduce an Innovation Award, which is an "All Employee Challenge" program in your business.
 

I participated in a company's Innovation Award Program, where the Managing Director asked us to submit an idea based on a specific business challenge topic.
 

The idea I submitted was shortlisted and made it to the Top 3 based on the number of employees who voted for my idea during the competition period.
 

The final winners were selected subject to the Executive Leadership Team's (ELT) decision. However, the Managing Director decided who won the Top 3 spots since he would be the one providing the budget to get the ideas implemented.
 

As my idea made it to the Top 3, I received the funding to implement the idea on how the company can get better value from their underutilised assets.
 

As a surprise gift for participating in the Innovation Challenge, I received a free book, "Brick by Brick: How LEGO Rewrote the Rules of Innovation and Conquered the Global Toy Industry" by David C. Robertson with Bill Breen.

They told me the book was "for a little further inspiration". It was a pleasant surprise to have a winning idea and receive a kind gesture as a token of appreciation. The senior leadership team told me that the ELT appreciated my "awesome idea" (this was a quote from what a person said to me, so they are not my words).

We had seven days to submit an idea, and all employees could vote on a staff's idea as soon as the idea got submitted through on online portal. Everyone was encouraged to get involved in the challenge and have some fun. It was a great initiative as the management team saw the collective power of over 1,000 employees.

I enjoyed developing the plan with my colleagues on how the company could turn my idea into reality. I had to collaborate with different people in the company to create the process and decide on the steps involved to progress with my idea based on the budget the Managing Director provided to implement it.

If you want to find out more information on how you can implement this type of Innovation Challenge program in your organisation, please feel free to contact me. I am happy to help by providing more information based on my personal experience.