Organizational Creativity and Innovation

Just as existing businesses, new ventures into business also embraces creativity and innovation as the excellent way to achieving success. Encouraging employees in the workplace, who are the agents of creativity by giving them enough resources and times to explore news areas promotes the generation of new and unique ideas hence increasing productivity of the organization and improving their performance and dominance in both regional and global market scale. Innovation and creativity have been a boost to the problem-solving process as it enables finding of suitable solutions to potential problems and hence enhances the business to competitively thrive in the market space. The main agents that generate creative ideas and innovative approaches are customers, target population, employees and even organization partners.

Therefore innovative ideas are produced anywhere within the organization as well as the outside environment, achieved by encouraging good communication by the organization so as to allow the exchange of ideas. According to Ottenbacher and Gnoth (2005) innovation is referred to as an idea, process or product which brings new changes in problem-solving when put in action and is recognized as new under a person's perception. Besides Queensland restaurant, most of the restaurants in the hospitality industry all over the world have too large extent implemented innovative ideas with a focus to maintain and improve their competitiveness in the industry. For instance, the Queensland restaurant has created some innovativeness in the menu perspective (Lin and Chen, 2007). By keenly looking at the research conducted in the Queensland land restaurants, it shows that innovation and creativity is a sure way to success because it allows restaurants to be more attractive to customers and hence this transforms to increasing profits levels.

Identifying and analyzing the market gap or opportunities is the main reason behind the necessity for carrying innovations within a firm, it helps in addressing issues that may have arisen from the staff, management or customers. For instance, it’s crucial to consider existing technology, financial resources available as well as organization’s preparedness to execute the available market opportunities realized. As a result of marketing opportunity analysis, one is able to identify new target markets, know unmet customer needs as well as realizing business’s competitive merits. The venture plan for new business setups, market opportunity analysis is very much important has it helps new proprietors to understand their customer needs by identifying the best market gap. For instance, based on the Queensland restaurants in Australia, the restaurant identify the market opportunity and take in action all the efforts in terms of innovations to ensure that they meet their customers’ wants hence earning increasing profits.

To identify possible market opportunity in any analysis the following steps are adhered to: Identify current activities in the organization or company’s environment. The outcome of this step is that you can venture into the best and suitable market channels. Target market description. By developing a marketing plan which comprises of the business ideal customers, you can have a clear focus on the sales and marketing efforts and eventually reach your targeted customers. through the implementation of innovative ideas, one is able to give a clear description of a marketing plan which shows describes the potential customers, what products are most consumed, customer needs and wants and being able to trace any market development and changes. The final step is making your projections.

Developing a high-value proposition of your innovations on products and services will transforms to increased sales since customers allude to innovations with high perceived value. The value proposition is all about understanding your customer needs and giving back what they want. Thus, it is all concerned with your client input and feedback. For instance in the case of Queensland restaurant in Australia, the major management interview some of the staff and even customers in order to explore on what areas need to be improved and what are their opinions on how to make improvements and what are the improvements. Alongside interviews, questionnaires were administered to be filled by some of the staffs, customers and even stakeholders which the management put into consideration the ideas recorded.

The most crucial component in a business model is identifying who the customer is, it explains that the customers play many roles such as being the consumer of organization's products and services, the buyer and the business partner. Therefore a successful business start-up is developing a value proposition for the new innovative products and services which gives increased value and benefits to target customers by addressing their unmet wants and ensuring customer high level of satisfaction. Besides focusing on the value proposition, this model also focuses on creating a profitable business by developing an approach for value extraction as far as money making is concerned as well as reducing costs invested. Therefore putting into action improvement suggestion made by your customers on their point of view and incorporating new things in the new products and services will earn your business enormous sales because of the high perceived value of the products and services.

Marketing and channel approach strategy. Through the implementation of innovative ideas, many businesses have carried out product differentiation and value addition such as blending and branding so as to meet customer needs. For instance, in the case of Queensland restaurant in Australia, marketing innovations strategies have been made on social media, brand image initiatives, sales promotions, and database marketing. Social media platforms such as the web, Facebook, and Instagram have become a major marketing arena in the 21st century. Besides Queensland restaurant many organizations worldwide posts and share their products on these platforms and thus gaining more familiarity with many interested customers transforming to increased sales. Both large businesses and medium and small size enterprises have registered their own websites which act as organizations online marketing space.

Competitive strategy and positioning Competitive strategy and positioning are all about what is the uniqueness of the products and services your company provides that is different from your competitors. Competitive positioning is referred to as how an organization can differentiate and create value for its market. This is simply about creating your own unique ground in the market arena. A proper competitive positioning strategy is influenced by the following factors which include market profile, customer segments, competitive analysis and method for delivering value. Competitive positioning is determined by looking at how you deliver value at the highest level in the market. Every business must ensure that the products are priced in a manner that they turn profits at the same time the customer incurs a reasonable price for the commodity.

This is not an easy task as it requires a lot of creativity and innovation from the early stages of product development. Therefore to turn more profits effective product differentiation and branding will eventually increase the buyers’ willingness to incur more to acquire the product, hence earning more profits for the organization and improving its competitiveness in the market arena. Financial Viability Financial viability is defined as the ability of a business or an organization to attain its operating objectives and reach its goals over a long-term period. There before starting any business, the venture plan should clearly state the ways used to determine the financial viability of the business over a certain given period of time. Calculation of break-even point depends on three assumptions which include fixed costs, variable costs per unit of sales and revenue per unit of sales.

By using Investment needs This is the simplest way of determining the financial viability of your business. For instance, before starting up any business you have to determine who are your prospective customers and what are the products to sell as well as how much need to be invested. In this case, to know if your business is successful, the returns on investment must surpass the cost investment and if so the innovative ideas implemented all through the product development to marketing will be said as a success. Conclusion In conclusion, innovation and creativity play the essential role in developing and ensuring sustainable and viable organization. C. , Ford, J. , & Ibrahim, E.  Strategic marketing: creating a competitive advantage. Oxford University Press, USA.