Creativity & Innovation of an entrepreneurship

1. DIFFERENCE
BETWEEN
CREATIVITY &
INNOVATION
DR. SHISHMA KUSHWAHA

2. DEFINITION
• Creativity: Creativity refers to the ability to generate
novel and valuable ideas. It involves thinking outside
the box, making new connections, and coming up with
original concepts or solutions.
• Innovation: Innovation, on the other hand, is the
process of turning creative ideas into tangible products,
services, or processes that have value and are adopted
by the market. Innovation involves implementation,
execution, and bringing something new to the world.

3. FOCUS
• Creativity: Focuses on ideation and the generation
of new and imaginative concepts. It's about breaking
existing patterns and thinking differently.
• Innovation: Focuses on the practical application of
creative ideas. It involves taking those ideas and
turning them into something real and valuable.

4. NATURE
• Creativity: Often seen as a mental or cognitive process
that results in the emergence of original ideas. It's about
the ability to think divergently and come up with unique
solutions.
• Innovation: Involves a broader process that includes
the development, testing, and implementation of
creative ideas. It requires a practical, hands-on approach
to bring new concepts to life.

5. TIMING
• Creativity: Can happen at any time and in any
place. It's the moment of insight or inspiration that
leads to a new idea.
• Innovation: Involves a more structured and often
time-consuming process. It requires planning,
development, and the implementation of ideas over
time.

6. OUTPUT
• Creativity: The output of creativity is the
generation of ideas, whether they are written
concepts, sketches, or mental constructs.
• Innovation: The output of innovation is a tangible
product, service, or process that has been
successfully implemented and has practical value.

7. RISK
• Creativity: Inherently less risky as it involves
generating ideas without the immediate pressure of
implementation or market viability.
• Innovation: Involves more significant risk as it
requires investment, resources, and the potential for
failure during the implementation phase.

8. • Creativity is the spark that ignites the generation of
novel ideas, while innovation is the process that
transforms those ideas into practical and valuable
outcomes.