"Creativity and innovation are both necessary to identify gaps in the market. Creativity is the point of origination for innovation; one must be creative to be innovative. Innovation refers to a better way of doing something new that is commercialised in the market. An innovation strategy builds on creativity, invention, and technologies, acting within a value network, to commercialise new products and services effectively for its customers (Dorf and Beyers 2008 cited in Venter, Urban and Rwigema 2018: 63)." With reference to the above statement, critically examine the elements of an attractive innovation strategy in an organisation.

Principles of Management
OER 2019th Edition
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax
Chapter18: Management Of Technology And Innovation
Section: Chapter Questions
Problem 3CRQ: What are the five Cs of managing innovation, and how do they help direct a firms innovation...
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"Creativity and innovation are both necessary to identify gaps in the market. Creativity is the point of origination for innovation; one must be creative to be innovative. Innovation refers to a better way of doing something new that is commercialised in the market. An innovation strategy builds on creativity, invention, and technologies, acting within a value network, to commercialise new products and services effectively for its customers (Dorf and Beyers 2008 cited in Venter, Urban and Rwigema 2018: 63)."

With reference to the above statement, critically examine the elements of an attractive innovation strategy in an organisation.

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