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[Your full January 25, According to Jones, innovation is the process by which new products, services and operating systems are developed through which the organization is better able to respond to the consumers’ needs. Innovation within an organization sees quantum technological change and incremental technological change. Since innovation is expensive, it needs to be protected through copyrights, patents and trademarks. Intrapreneurship is the innovation and new product development by entrepreneurs within established organizations.
Creativity deals with ideas going beyond the boundaries of technology, social norms, knowledge and beliefs. When these three elements combine in an organization, then creative destruction takes place in which old companies which use old conventional methods are thrown out of the competitive market and business and new industries emerge as a result. When an organization follows such strategies that encourage the entrepreneurs to utilize their creativity in developing new products or in improving the efficiency of the older ones, then they come up with new innovative ideas and hence new product with increased efficiency is introduced in the market which better address the needs of the clientele.
This not only boosts the organization’s integrity but also add to its stability. Thus, these three elements are interrelated with each other and are considered to be vital for knowledge-creating organizations because such organizations needs innovation at all levels put forward by the creative entrepreneurs. This increases the entrepreneurs’ expertise, and guarantees the organization’s growth and increased productivity that eventually attracts clientele, results in better product outcomes, and creates good reputation in the market.
Works Cited Jones, G. Organizational Theory Design and Change. NJ: Prentice Hall, 2009.
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