Technological Innovation
New products and services are appearing all the time and the latest versions of products are appearing more quickly than ever before. Technological innovation facilitates this increasing rate of product development. Technological innovation also facilitates the development of new processes that produce these products and services more quickly or with better quality. Items that were thought of as belonging to science fiction only a few years ago are in common use today. Technology is pushing the pace of change in an already fast-changing world.
Globalisation and a Shrinking World
Furthermore, the world itself seems to be getting smaller as companies are no longer restricted by distance and time – fast air travel can bring people or products from the other side of the world in just one day. The advances in telecommunications and internet technology facilitate the immediacy of long-distance business. This globalisation of business and commerce has led to increased competition. On top of this, many countries and groups of countries are entering trade agreements with others in order to facilitate increased international trade both inbound and outbound. This too increases competition from abroad.
Internet Business Development
More and more industries are expanding their markets through ever developing internet business models and technologies. The internet itself has vastly lowered the barriers to entry into many markets which again has increased competition in ways unknown only a few years ago.
Economic Turmoil
The economies of Europe andAmericaare in turmoil and these are having a knock-on effect on Asian economies – the level of manufacturing inChinais decreasing month on month.
All of these factors mean companies are facing greater uncertainty, ever-increasing competition and a faster and faster changing operating environment.
The Need for Flexibility and Speed of Response
To succeed – indeed, to even survive – businesses have to be flexible and to be able to respond quickly to their changing environment. This flexibility and speed of response are strongly dependent on creativity. In a relatively high wage economy likeSingapore, the government has urged organisations to be creative enough to add value through creativity and continual innovation. It is through creativity and innovation that new ways of working are developed that ensure survival, profitability and success.
Creativity Skills Needed to Survive and Flourish
To become more creative and innovative, organisations need to train their managers and other employees in creative thinking and creative problem solving techniques. Creativity training will provide them with new skills and knowledge so that they are better placed to solve problems facing the business and exploit opportunities offered by the fast changing environment.
Whatever issue, problem, challenge or competition a company is facing, creative thinking, novel ideas and innovative approaches will make the difference between a stagnant or failing business and one that is thriving and successful. Being effective and efficient in the modern business world requires all employees to have creativity and innovation skills, and not just the managers.
Creative Capability Provides the Competitive Edge
Creativity and innovation training provides managers and other employees with skills that can exploit their knowledge and expertise of the company in new ways. Developing a company’s creativity capability by training employees in creative thinking and creative problem solving can lead to increased productivity; help make continuous improvement happen; develop new products or services; improve the quality and features of existing products or services; and improve processes for faster production and better service.
Creativity and innovation training (whether in-house or through external providers) provide the skills that make the difference in today’s fast-moving and complex world. Creative thinking, creative problem solving techniques and innovation skills are the key to competitive advantage.
