· Things or products will be invented, sold and one day decline in term of its sales and popularity. This is called product life cycle and a lot of technology products nowadays changes very fast to the market trends, technology development, power of advertising, and the taste of consumers. If the organizations are not having creative talents and try to innovate its current products, it may see itself shrinking in the market, revenue and potential lose to its competitors and force to shutdown. See Nokia innovation in market in its mobile phone design. Its 3310 it’s popular in Malaysia market at one time captured large slice of market due to its user-friendly feature. However Nokia keep-on innovates according to latest technology trend and may have to cannibalize its successful 3310 product to ensure its future in the long term because consumer trend is changing fast and product life cycle is short.
· Sometimes it is more on economic opportunities for organization to improve creativity and innovative. Organization need to strive for creativity and innovative because it is already reached a point where all excessive cost has been controlled, downsizing and reengineering may not have work well. So organization must try something different such as innovation in its products or services as a key to continue its sustainability in the market.
· Sometimes organization operates in highly competitive market where most products is quite identical and be replace by any of the consumers who are influence by marketing ploy, pricing, design, historical experience, after market services and other consumer behavior. For example is competitive American car market where Big 3 is competing with a lot of Japanese and Asian car maker to fight for the market. In order to compete in market, constant innovation in products, design, services and price must be place on hand to compete with other organization.
· Continuous improvement will reach a point of diminishing returns. At some point an entirely new platform or category is needed. Motorola seemed to have made this mistake by improving analog cellular phones after the market had shifted to digital technology. For example if company A is producing and improving walkman that play on cassette, it is a no future product because cassette is going to be short in life cycle as constant innovation in disk and flash based system. So in order to survive, it must be creative and innovate in new product line.
· Value and wealth creation is important to ensure a healthy return to organization and the shareholder. Raw material at the very first point is low in value but through upstream production by adding new product process will add up its value to the market. For example if Company B only do plantation of tea, it will only earn its money from selling that raw material. However if the organization creatively add up its own process such as processing the leaves and do packaging and set up own distribution channel it will earn a lot of potential income selling package teas such as Lipton rather than keep on in static manner doing only plantation.
· Sometimes organization needs creativity and innovation to revitalize itself after dampening market situation poor company performance. For example Apple Computer loosing a lot of its PC market to conventional IBM compatible PC market in 1990s. Creative approach and innovation by ex founder Steve Jobs bring the company to life and competitive by introducing newly design translucent Mac, IPod flash based music player and online songs downloading network.
· Strong creativity and innovation will be a reputable name for the organization where organization associated to these values such as Motorola, Apple, 3M and GE is said to be one of the best place to work and employees will have sense of pride in them.
· Creative drive is important to fulfill the high taste and demand from the customers which is ever changing in fast trend line.
· Creative and innovation is important to prepare the organization to face the challenge in the future, Technology is changing very fast and organization must be prepare to be a technological leader to control the market and earn healthy profits in short term. This is because technology catching up game is very fast and in long run all firms will only earn low profits if there are a lot of competitors entering the market.
· Creativity and innovative drive will push up competition and cooperation among all employees in the organization. This will prevent the employees from falling in the comfort zones.
· Sometimes it is more on economic opportunities for organization to improve creativity and innovative. Organization need to strive for creativity and innovative because it is already reached a point where all excessive cost has been controlled, downsizing and reengineering may not have work well. So organization must try something different such as innovation in its products or services as a key to continue its sustainability in the market.
· Sometimes organization operates in highly competitive market where most products is quite identical and be replace by any of the consumers who are influence by marketing ploy, pricing, design, historical experience, after market services and other consumer behavior. For example is competitive American car market where Big 3 is competing with a lot of Japanese and Asian car maker to fight for the market. In order to compete in market, constant innovation in products, design, services and price must be place on hand to compete with other organization.
· Continuous improvement will reach a point of diminishing returns. At some point an entirely new platform or category is needed. Motorola seemed to have made this mistake by improving analog cellular phones after the market had shifted to digital technology. For example if company A is producing and improving walkman that play on cassette, it is a no future product because cassette is going to be short in life cycle as constant innovation in disk and flash based system. So in order to survive, it must be creative and innovate in new product line.
· Value and wealth creation is important to ensure a healthy return to organization and the shareholder. Raw material at the very first point is low in value but through upstream production by adding new product process will add up its value to the market. For example if Company B only do plantation of tea, it will only earn its money from selling that raw material. However if the organization creatively add up its own process such as processing the leaves and do packaging and set up own distribution channel it will earn a lot of potential income selling package teas such as Lipton rather than keep on in static manner doing only plantation.
· Sometimes organization needs creativity and innovation to revitalize itself after dampening market situation poor company performance. For example Apple Computer loosing a lot of its PC market to conventional IBM compatible PC market in 1990s. Creative approach and innovation by ex founder Steve Jobs bring the company to life and competitive by introducing newly design translucent Mac, IPod flash based music player and online songs downloading network.
· Strong creativity and innovation will be a reputable name for the organization where organization associated to these values such as Motorola, Apple, 3M and GE is said to be one of the best place to work and employees will have sense of pride in them.
· Creative drive is important to fulfill the high taste and demand from the customers which is ever changing in fast trend line.
· Creative and innovation is important to prepare the organization to face the challenge in the future, Technology is changing very fast and organization must be prepare to be a technological leader to control the market and earn healthy profits in short term. This is because technology catching up game is very fast and in long run all firms will only earn low profits if there are a lot of competitors entering the market.
· Creativity and innovative drive will push up competition and cooperation among all employees in the organization. This will prevent the employees from falling in the comfort zones.
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