Innovation - apple Assignment Example | Topics and Well Written Essays - 3000 words

Innovation - apple - Assignment Example Smooth and quick flow of information, rapid advancement of technology and highly customer centric behaviour of Apple makes it one of the most successful business organizations in the industry. Recently Apple has launched its new product, iPhone 5C and iPhone 5S. The company had to overcome their traditional box of ideas so as to come up with new developments. However, Apple’s CEO, Tim Cook, currently emphasises on the development of its existing products, instead of creating a whole new generation of ideas for innovating new products. In this paper, the context of creativity and innovation by Apple would be studied in detail to understand the factors that affect the level of market performance by the company. 2.0 Literature review Creativity and innovation are the most important buzz words in the current business world. Companies are trying to become more creative and improve their innovative ideas in order to maintain their competitive position in the market. However, these t wo concepts are not identical. They refer to different aspects of organizational development. Creativity refers to the capability of individuals to create new ideas or hypothesize new facts. This is the change in people’s â€Å"perception of reality† (Iny and Brabandere, 2013). Innovation, on the other hand, is the â€Å"change in reality† (Iny and Brabandere , 2013). In case of innovation, new ideas that have been created are taken up and worked upon to turn it into reality. For example, the idea of development of the idea of a new kind phone led to the creation of the first concept of iPhone. With this new idea, the iPhone has been created. Once the new iPhone is created, Apple could make various changes in the original product. The company has made different iterations of the iPhone by altering their own understanding of the product possibilities thereby changing the understanding of the customers regarding the facilities that can be offered by a mobile phone . Although this fundamental difference exists between creativity and innovation, these two concepts represent two very important facets of any organization. Creative thinking leads to an innovative product. Hence, it is not possible for any firm to move ahead by making innovative activities, if they lack creative talent amongst their employees. 2.1 Creativity and innovation Innovation is one of the key drivers of growth for any organization in the 21st century business world. Innovation allows the companies to invent new methods in which they might be able to grow in future. Innovation is not a skill that a company can develop within a short period of time through training. It has to have the knack, creative mind set of employees and risk taking attitude to invent new products, or strategies to serve its customer better. This in turn improves the company performance and its market share. This implies that, creativity and innovation is present within the organizational culture and is a part of its fundamental view towards growth. For an organization to be creative and innovative, it