1.

The words creativity and innovation go hand in hand with each other, however, both

words are not the same. Creativity in business is often related to coming up with ideas

that makes a business stand out from its competitors, while innovation deals with the

actions involved in creating something new that drives the business to a new level.

Creativity is a humane quality that involves the ability to solve problems and overcome

challenges; it is not only coming up with an idea to mitigate an issue, but possessing the

skills to create something “out of the box,” to differ from a traditional monotone

approach as well as viewing problems and opportunities in a new way. Though,

employing creative thinking does not actually solve the problem at hand, it remains an

idea or though and is yet to become a reality; this is where the term innovation relates to

creativity. Innovation is the transformation of an idea into reality, creating new value to

fill customer needs; creating a new market to give the business an advantage over its

competitors. There are four types of innovations; invention, extension, duplication and

synthesis.

The word creativity simply suggests creation; however, creativity is more than just

having ideas, we can describe the word in any context so long that it applies to a form of

expression. Creativity can refer to experiments, product planning, tastes or sensation;

which are all relevant terms when considering success of a business, allowing it to keep

up to date on constant developments. Encouraging creativity in a work environment can

boost employee mood and performance, as great ideas come from a positive environment.

However, with that being said, it must be mentioned that creativity alone is not enough to

make a business thrive; straying from reality can be destructive to a business as it is easy
 to forget about practicality for implementing ideas or plans. In order for an idea to be

considered useful, it must be used, as the true value of creativity lies in its

implementation and its usefulness towards the business.

A successful entrepreneur is seen as an innovator; one which utilizes both creativity and

innovation to capitalize on the market. Entrepreneurship is the result of creativity and

innovation working in unison, mating new creative ideas with firm actions to structure a

business. The wise Peter Drucker once stated; “Innovation is the specific instrument of

entrepreneurship. It is the act that endows resources with a new capacity to create

wealth.” Being an entrepreneur is an ambitious step to take, most individuals face barriers

that undermine their journey; innovation and creativity must be implemented with a

strong entrepreneurial mindset, without focus on being; too logical, focused on rules,

fearful of looking foolish, fearing mistakes and believing that you are not creative.

Standing out from society may not be negative when it comes to businesses, creativity

and innovation can pave the way for longevity of a business so long that it is valuable and

valid.

2.

Decision making is vital to a business’ success; it is the step-by-step process undertaken

by a person or business in attempt to accomplish a goal. Poor decision making is more

common than you think, as most fail to utilize proper techniques that would benefit the

business, resulting in failure of new projects and loss of profits.

 Having options- When developing a new project or framework in business,

human tendency goes for the options that are immediately present; proper
 decision-making technique involves considering multiple options when faced with

a decision, pushing beyond what is known as “narrow framing,” where the mind

gives unbalanced favour to the first set of information it receives. This can

undermine an entire operation that was set out to solve a problem, often times

overlooking better options that benefit the business. A prime example of this is

when an individual or business is faced with options A and B, it is immediately

thought that these are the only two options available, when in reality there may be

more cost effective and efficient options that are attainable when thinking outside

of the box. Having options is one of the core frameworks of entrepreneurship; the

ability to seek out multiple opportunities, rather than jumping to readily available

options, in order to capitalize on the market and maximize profits. Making

decisions beyond the availability bias can be more beneficial to a business as it

takes creativity to innovate ideas.

 Getting the perspective of others- In every decision-making process, the

perspective of others may drive the thought process of an individual to the next

level. The perspective of others can bring new insight into decision making, as

reaching out to others with a different perspective can help the individual or

business approach the decision-making process from all angles. The perspective

of one individual is limited to their own experiences, therefore, allowing the

perspective of others to influence decision making can help impact the process in

a new way. An example of this can be seen in entrepreneurship; while being an

entrepreneur deals with filling a gap or niche in the marketplace, the ability of one

to realize a gap might hinder growth, as experience influences actions. Allowing

and ideas leaving it up to the entrepreneur to conceptualize the information of

others and turn it into monetary gain.

Poor decision-making hinders growth of an individual or business, by searching for

ways to minimize such poor decision, only then can a business or individual thrive.

3.

A successful entrepreneur is one who places themselves in an environment with like-

minded individuals, it is possible to create such environment in an organization by

implementing procedures that help creativity and passion flow through the workplace. An

entrepreneur can implement a number of actions to push innovation in their organization.

I. Empower and Encouraging employees to share ideas- Empowering employees in

the work place encourages creativity and helps develop their critical thinking

skills, by giving an employee more responsibilities it helps them develop,

strengthening their place in the work environment. Empowering employees in the

workplace helps promote the culture of intrapreneurship, giving the employee

pride in the company. Encouraging employees to voice their opinions and share

ideas allows for the flow of new perspectives which can help the organization

achieve its goals, ensuring that a more efficient, cost-effective approach to

success is not left out.

II. Leading by example- In order to promote innovative culture in the workplace, an

entrepreneur must first lead by example; example meaning, taking risks and

demonstrating how creativity and innovation is the driving force of an

as most believe their risks would be penalized, while not all risks result in reward,

the experience and creative thinking that was involved can help fuel future

prospects. The entrepreneur must create an environment where the employee is

comfortable with taking risks without fearing negative repercussions from

management.

III. Reward proactive decisions as well as not punish those who have less practical

ideas- Giving incentives such as; raises, promotions or public recognition, to

those who are proactive helps in driving innovation and creativity in the

workplace, as employees would have some sort of reward for their efforts. It is to

be said that no idea is a bad idea, as such, an employee should not be punished for

sharing their opinion or idea, as this would hinder creativity and creates a negative

work environment.

IV. Encourage equity and equality among employees and employers- Creating a level

playing field for employees and employers encourages a diverse workforce

despite differences in role and position, having the employee view the

organization as their own, motivates them to be creative and innovate ideas and

projects, that benefits the organization. Furthermore, treating everyone in the

organization as partners, creates a positive work environment.

V. Create a sense of urgency- Placing weight on an idea gives the organization a

reason to work towards problem solving, doing this, encourages cooperation with

each person in the organization. Employing this action in the workplace alongside
 allowing employees to share ideas help promote the innovative culture needs for

the business to succeed.

Innovative culture is the driving force of an organization; any action that promotes

this, encourages the organization to get better and move forward.

4. Afluent Co., A subscription-based catering service

a. Afluent Co is a subscription-based catering service, dedicated to building a healthier

world. Innovation comes in the ability of our business to tailor make meal plans to

suit customer needs, as well as, guidance and check-ins from our team of certified

wellness-coaches. Whether it be; losing weight, gaining weight, maintaining weight

or adopting healthier eating habits, our goal is to provide whole foods that are tasty

and nutrient rich, fulfilling macronutrient goals for the day. Diet plans can be tailored

made to suit each individual or an existing plan can be tweaked, such as; Paleo,

Vegan, Low-Carb/ Low-Fat, Keto and much more. A healthy lifestyle starts with

adopting healthier eating habits, Afluent Co is dedicated to build a healthier world.

b.

1. Attracts Investors- In order to attract investors, specific information on the

business’ processes must be disclosed, which allows for an investor to

determine if he/she wants to invest in the business.

the public helps reach untapped markets and extends the firms’ target

audience.

3. Increases Competition- While competition may seem like a bad result of

revealing an innovation, it may promote growth of the business, as we now

have to improve our services to be more attractive than competitors. It can be

used as a motivation to grow the operation.

4. Aids in problem solving- By disclosing innovations to the public, it is possible

to receive feedback and different perspectives on ideas or product design,

allowing the business to enhanced the product before fully entering the

market; testing the market beforehand.

5. Create collaboration- Collaboration between businesses can help take a new

venture to the next level, however, in order for effective collaboration to take

place, there must be transparency of the operation to the willing party,

creating a joint venture reduces the risk that a single entrepreneur has to bear.

c.

1) Hinders size of operation- Withholding innovation can reduce the possibility

of attracting potential investors. Funding a new venture with limited capital,

limits the scale of the operation being launched, an investor only makes an

offer after assessing business potential, this is only possible if the business

innovation is made transparent.

the public extends the firm’s target audience, as people are being made aware

of new innovations and are influencing product design and development;

withholding innovation reduces the marketing potential of the product.

d. Revealing the innovations of Afluent Co increases the business’ potential to thrive in

numerous ways, attracting investors and widening the target market. Investors aid in

providing a source of funding, well needed to launch a new venture. Accessing new

target markets promote growth of the business, as more people would be aware of the

services offered at Afluent Co.