The Interlinking of Innovation and Creativity in Entrepreneurship
The GDP of New Zealand per person stood around 15%, the gap between per capita income of the New Zealand and Australia is now about 26%. In New Zealand, the business or company consist 20 employees are consider being an important part of their economy. According to the latest data, New Zealand has 487,602 small enterprises that contribute around 26% to the GDP. Today the small industries of New Zealand are operating in highly competitive, global environment. To stand in the worst conditions the small-scale business of New Zealand need to be creative and innovative. Creativity work as a fuel to the small businesses, it will help them in generating big ideas, provide ability to face challenges and open doors to new business challenges. This report contains two parts part A is developed to understand the importance of creativity and innovation in the success of Entrepreneurial venture for that critical thinking and logical arguments is been provided. For understanding the questions arise in part B Dad’s Pie is been selected, the entrepreneurial idea, entrepreneurial process and value proposition of company are discussed in this report.
The terms creativity and innovation are interlinked with entrepreneurial venture. Any entrepreneurial venture without creativity and innovation cannot exist in the competitive environment for the long time. Innovation, Creativity and entrepreneurship are skills that create or develop the positive change in the world (Somech and Drach-Zahavy, 2013). Creativity in the business arise when the individual decide to set up their business, they are required to think creatively to avoid the chances of risks to get success. Innovation exists in the business to provide the competitive environment to the business and help the entrepreneur in turning the small business into a big company or in a MNC (Yoshida, et.al. 2014).
Innovation is the process, which will help the entrepreneur in implementing and creating new business ideas. Innovation is the process of taking useful idea and converting them into useful services and products or processes or method of operation. The ideas involve in the innovation are the result of a creativity, creativity is the prerequisite for innovation (Sarooghi Libaers and Burkemper, 2015). The economy of the country is comprised of business and enterprises. The terms changes an innovation are related terms even though they are not same. Changes also involve new ideas or better ideas. The new ideas can be considered to be a creation of new process or products or it can be an idea about how the changes will be carry out in the business (Ahlin, Drnovsek and Hisrich, 2014). Successful organisation knows the importance of involving innovation and change to satisfy the needs of their stakeholder. For both new and existing organisation innovation, become important in a dynamic and changing environment (Gundry, Ofstein, and Kickul, 2014). When any company fails to incorporate new innovation ideas in the business then its customers community and employees suffers at a large scale.
Innovation as the Key to Turning Small Businesses into Large Companies
Innovation in entrepreneurship is very important. The present market of the world is highly competitive and innovative ideas are the key factors that will separate the business from rest. In order to build an outstanding product, strong brand image and to build a customer network the business or entrepreneur needs to be innovative (Anderson, Potocnik and Zhou, 2014). Creating new is not consider to be innovation, taking something which is already in market and change it, improve it make it work better and make it as per the requirement and needs of customers consider to be innovation. Innovative idea considers being those steps that will make a start-up competitive. Innovation cannot be attained overnight it will take time and efforts to create something new creative and innovative that will make difference. The terms Innovation and creativity are interlinked and they both walk together when they are linked with Entrepreneurship.
Creativity is an essential tool for every business whether it is small, medium and large, the word creatively involves the power that will help the entrepreneur to keep moving their business forward. So many organisations have designed some cool creative funky environment for their employees to keep them relax and spark. When the entrepreneur think out of the box will generate a passion, excitement and creativity (Perry-Smith and Mannucci, 2017). Developing the creative environment or creative culture will take time in the beginning, it is important that the entrepreneur will be more open-minded and less judgemental while suggesting some creative or innovative idea to the team. The most important skill that the Entrepreneur should consist will be he should have a quality of being patience. It is important that the business will provide time to the businessperson to become creative and think creatively (Oman, et.al. 2013). The leader of the company, it is expected from them that they will think creatively and come up with new ideas and innovative solutions to solve the problems. Creativity will increase engagement of employees in the business, increased interaction between management and employees and will increase the morale of employees, increase the passion, will motivate employees, increase problem solving and develop the team collaboration and bounding.
Innovation is a factor that facilitates entrepreneurship and way of empowering people to take charge of their lives and economic prosperity.
There are many issues or problems are present in the world that can provide their impact on the business of an entrepreneur, all the problems that are arise they all demands solution. The great scientist Albert Einstein stated in one of his quote the ‘we cannot solve problems with the same thinking’ in the particular thought he wants to state that the businessperson needs to think creative to solve the problems. Creative ideas and innovative solution are required to solve problems at same time (Oman, et.al. 2013). However, the entrepreneur need to understand that innovation particularly about perceives, seeing and solving problems with the help of creativity. A profound sense of passionate determination and futurist thinking are essential to deals with solving problems and comp up with operative entrepreneurship based solution.
The Importance of a Creative Environment and Leadership in Promoting Innovation
In present time, all factors that are internal or external effect the business equally on this note the Entrepreneurs need to have a full knowledge of the global issues or problems that can affect the business. In the Global context the sectors like women, social and youth demands a high innovative and creative solution and for these sectors entrepreneur also have the large playground to caters (West, et.al. 2014). In the global context, the entrepreneurs need to think out of the box and required to generate quality impact towards making the world a better and more sustainable place. With entrepreneur, the government of the particular country also need to think innovatively because with the global issues the GDP and economic condition of the country associated. In global context the government is very is the main tool that can provide their assistance to the entrepreneur by introducing different policies, schemes and programmes.
Latest technologies itself are the example of creative thinking and innovation, the technologies make the work of entrepreneur very easy and handy. In the current market condition internet become a source that enables the connection and sharing data between digital devices (Agarwal, et.al. 2013). With the help of the innovative technology or software, the entrepreneur can design new business models and revenue streams, for start-ups as well as large and old organisation that leverage existing assets in exciting, profitable new ways.
Innovation and creativity plays an important role in adapting changes at work place. It is human tendency to resist toe change, at initial stage the employees of the company do not except changes in their daily routine work which is been assign to them. It became the responsibility of the entrepreneur to adopt the changes some creative and innovative ideas with the help of which they can make the employees ready to accept changes (Bradford and Florin, 2013). For increasing the revenues of the company, it is very important for any entrepreneurs to be think full of handling various uncontrollable situations at work place. To work collaboratively and effectively the Entrepreneur need to have the some especial characteristics such as desired skills and knowledge, networking and team sharing, and experience.
The major changes are very important in every organisation to understand the needs expectations and wants of the customers. The customers of today’s time are empowered by the increasing connected and digital world. The focus of today’s customers is rapidly shifted to receiving the value that understand and support their preferences and lifestyle (Kilelu, Klerkx, and Leeuwis, 2013). In current time, customers has full control over what they do, who they are and how, what and where they purchase the product. the growing customers choices and expectations made the business more customer-centric through innovative amendments.
The Role of Creative and Innovative Solutions in Addressing Global Issues
It is not important that every idea will be result into great success, the entrepreneur need to be creative at the time of providing rewards. To get the work done by the employees providing rewards are the best option. The reward boosts and motivates employees to work effectively and efficiently for the company (Chahal, and Bakshi, 2015). It became very necessary for the business to design the reward system in a manner that will motivate the employees in working for the company.
It is very important for the entrepreneurs to hire right employees for the business. hiring right people are not solely creative the business should also focus on the diversity, cultural, background set of skills and bringing in a variety of viewpoints. Tom Kelley has established the ten faces of innovation these are designed to tackles problem solving, and to understand and form the relationships with each individual (Altunta?, Semercioz, and Eregez, 2013). No all people go creative but most people can learn the ability of being innovative and creative.
The idea of establish the Dad’s pie is generate in the mind of Eddie Grooten in 1981. He comes up with new idea in that era of opening a pint size pie shop when others are opening Stubbies. The idea is generated in by seen the statistics of the pie industry (Dad’s Pie, 2018a). The people of New Zealand are very fond of eating pie. The founder himself likes to eat pies and he turns his taste preference into his business. Eddie Grooten started the business by spending $18000 at that time. He opens a small beach front shop at Red Beach without any logo or brand name (Dad’s Pie, 2018b).
The business of the Dad’s Pies spread very fast in New Zealand and soon they find their own feet’s. The Eddie Grooten has a secret of making great pie that everybody wants to eat. Dad’s Pies are like by people of New Zealand and the company got huge profits from the small shop. In 2001 the company has decide to move Silverdale. To expand the business the company has decided to close the small shop and open up new factory or plant. The Dad’s pie has installed a plant that has the capacity of making 28000 pies in a one hour (Dad’s Pie, 2018c).
Later the demand of Dads Pies increased in the New Zealand market and the company has decided to expand further into whole New Zealand. The company has start delivering the Pies with the help of transport to every part of the New Zealand. The production capacity of company also gets expanded as per the demand (Dad’s Pie, 2018c). The company is come up with the Pie bakery shops in almost every part of New Zealand. Now The New Zealand people have their Dad’s Pie shop near them.
The Role of Innovative Technologies in Business Development
The company has decide to export their pies at every part of world they are planning to expand their business in the worlds but they have made the promise of the people of New Zealand that how far they go, how much they grow they will not forget their original taste and their home country.
At present the company is dealing in various kind of pies such as Angus Chilli Beef and cheese, Angus potato top, Classic Mince, Italiano Lasagne, Meat Supreme, Mince and cheese, paper steak, prime steak, steak and cheese, Gluten free Angus mince, butter chicken, Thai chicken, country chicken and mushroom, lamb and roasted vegetables, Moroccan lamb, Bacon and Egg, Meat supreme, creamy vegetables. The company also deals in pastries that are available in following flavours garlic and cheese roll, hearty beef roll, sausage roll, spinach and feta roll. The packing are also available for children by name junior pies and for family as family pie.
To increase the sales of pie on various occasions the company has developed a creative way of attracting peoples. On the various occasions, the company has decided to bake the pie by stating the name of that particular occasion. The concept can be understood through an example, on father’s day the company has decided to bake the pie by stating the word Dad on the top of pie. To spread awareness about the Dad name stated pies in the market they published an advertisement in the newspaper (Molaei, et.al. 2014). The idea work pretty well and in comparison to normal days the company earn more revenue on father’s day.
Discovery: Idea of staring the business of Pies was arrived in the mind of Eddie Grooten. Pies are the food that are very popular in New Zealand and every year the people of New Zealand spent lots of money on purchase of Pies. The statistics states that around $ 110 million every year the people of New Zealand spend on meats pies. After Analysing and evaluating, the facts of the New Zealand market for pies the founder Eddie Grooten has decide to open a Pie shop (Dad’s Pie, 2018e). The location which the founder has selected to open a first shop was a Red Beach the idea of opening the shop at beach generate in the mind when he analyse the market..
Developing Business Plan: After discovering that what business Eddie Grooten want to set up and where he want to set up the next step which he has flow is developing a business plan. A business plan is a very critical for new venture (Davidsson, 2015). Eddie Grooten takes a sufficient time in developing a business plan because he knows that developing a business plan is very important and crucial part for every new venture. Here in business plan the company has decided their mission and vision. The mission of company is providing best quality products to the customers and mission is to expand the business in whole New Zealand (Dad’s Pie, 2018e).
The Importance of Adaptability and Change Management in Entrepreneurship
Resourcing: The third step that the Dad’s Pie has to follow is resourcing which include finance and finding human resource. The company has started its business with $18000 that was the saving of Eddie Grooten. For establishing the business, the company did not take any kind of funding form the banks or people. In 1981 Dad’s Pie start its business with few employees. Eddie Grooten provides it focus on hiring skilled employees and provides them all facilities to retain them. Retaining the quality staff is very important to maintain the taste of pies (Dad’s Pie, 2018d). The company always want to hire quality staff but do not want to lose the existing staff members.
Managing the Company: When the funds is been raised by the company and the employees is been hired the next step which the Dad’s Pies has follow is setting up a company to achieve their goals. On Red Beach Eddie Grooten has hire a shop for selling pie he bring out some tie ups with some raw material suppliers who can supply the raw materials like All-purpose flour, chicken, beef lamb etc to the shop at affordable prices (Koryak, et.al. 2015). The whole kitchen is to be installed at the shop with the help of which they can bake and sale pies to the customers. Initially the motive of business is to maintain stability in the market later they have decided to expand their business.
Harvesting: When the business of the company get established and get into a good form the management or founder will decided to expand their business same is happen with the Dad’s Pies after serving at the Red Beach the company has open a new plant in Silverdale. Plant the company has installed machinery that has a capacity of baking 28000 pies in one hour later they have decide to expand their business in all parts of New Zealand. Now they are planning to expand their in all part of world.
Dad’s Pie is a New Zealand based company which is been established in 1981, the company deals in pies and ice creams. At initial stage, the company began as a print sized pie shop at Red Beach. The business of the company is increased and they become one of the famous pie shops in New Zealand. The concept that the company has used to established the business is very creative and innovative.
The Need for Customer-Centric Business Practices
Can provide a facility of placing order online: In present world the trend of E-commerce is rising on huge scale every business is going online, it is important for Dad’s Pie to provide a facility of placing order online with the help of website or app (Chell, 2013). The company can develop a website and app with the help of which they can receive the online orders and deliver the order to the desired place.
Offer Coupon codes and Coupon cards: the company can provide an offers time to time. If the company is going online, they will provide a coupon code while ordering online and those customers who are not using online app or website will be provide coupon cards with the help of which when they come to the shop to purchase the pies by showing those coupon card they can get a discount. This idea will boost the sale of the company for availing discounts the people will place maximum orders.
Provide Gift Wrapping: the company can bring a new range of product in which they will provide an option of gift-wrapped pies for gifting to family and friends. The company can exercise the option of providing gift-wrapped pies (Payne and Frow, 2014). The company can offer a various combos to the customers in the gift-wrapped pies. In addition, they can also provide an option to deliver the gift-wrapped pie top the place they want to deliver by charging delivery charges.
To create awareness about the various deals and offers can use Informational Video and Content: whenever the company provide offers and deals, they can spread awareness about the particular deals and offers through publishing video and related content on various social media sites and companies web-site. They can also place add on the screens placed at Shops and can put posters at shops (Gronroos and Voima, 2013).
Improve food quality and safety at Dad’s pies: The company is been recognised in New Zealand and around world for its quality food. Every dad’s pie is baked with full perfection in special foil trays that are been supplied by Bonson Savpac (Dad’s Pie, 2018c). In addition, they also provide sustainable packing solution the foil tray offers the equal distribution and integrate seamlessly into the company’s purpose built bakery. For the improved quality and safety the company has get an award.
Occasion based Baking of Pies: To increase the sales of pie on various occasions the company has developed a creative way of attracting peoples. On the various occasions, the company has decided to bake the pie by stating the name of that particular occasion (Dad’s Pie, 2018a). The concept can be understood through an example, on father’s day the company has decided to bake the pie by stating the word Dad on the top of pie. To spread awareness about the Dad name stated pies in the market they published an advertisement in the newspaper. The idea work pretty well and in comparison to normal days the company earn more revenue on father’s day.
The Importance of Rewards and Employee Engagement in Creative Business
Friendly competition boosts pie prominence: The present owners Ben and Tom are now playing a major part in the business and they mutually made a decision that to get success in the market they have to face their competitor’s but beside going hard on them they has planned to have a friendly competition (Gronroos and Gummerus, 2014). They do not think any of their competitors are better than Dad’s pies the though behind their though is that if they feel they are best the other will automatically feel the same. According to them McDonalds and KFC bigger competitors, to get the edge over two competitors they have decide to keep their prices low.
Conclusion
To conclude, Innovation and creativity plays essential role in success of the company. In the era of technology, and research and development, the role of innovation and creativity is become essential at every step of the company. If the entrepreneur wants to establish new business, they need to adopt the innovative ideas of business and need to think how they will bring creativity in working of the business. Dad’s pie a New Zealand based company has adopted few innovative ideas with the help of which they are getting success, to cope with the new world and technology they need to adopt few new technologies and have to create new and innovative ideas to run the business effectively and to generate revenues.
References
Agarwal, S., Krishna Erramilli, M. and Dev, C.S., (2013). Market orientation and performance in service firms: role of innovation. Journal of services marketing, 17(1), pp.68-82.
Ahlin, B., Drnovsek, M. and Hisrich, R.D., (2014). Entrepreneurs’ creativity and firm innovation: the moderating role of entrepreneurial self-efficacy. Journal of Small Business Economics, 43(1), pp.101-117.
Altunta?, G., Semercioz, F. and Eregez, H., (2013). Linking strategic and market orientations to organizational performance: the role of innovation in private healthcare organizations. Journal of Procedia-Social and Behavioral Sciences, 99, pp.413-419.
Anderson, N., Potocnik, K. and Zhou, J., (2014). Innovation and creativity in organizations: A state-of-the-science review, prospective commentary, and guiding framework. Journal of management, 40(5), pp.1297-1333.
Bradford, M. and Florin, J., (2013). Examining the role of innovation diffusion factors on the implementation success of enterprise resource planning systems. International journal of accounting information systems, 4(3), pp.205-225.
Chahal, H. and Bakshi, P., (2015). Examining intellectual capital and competitive advantage relationship: Role of innovation and organizational learning. International Journal of Bank Marketing, 33(3), pp.376-399.
Chell, E., (2013). Review of skill and the entrepreneurial process. International Journal of Entrepreneurial Behavior & Research, 19(1), pp.6-31.
The significance of Hiring Right Employees for the Business
Dad’s Pie, (2018a). Our Story [Online] Available From: <https://dadspies.co.nz/our-story> [Accessed on: 21-08-2018].
Dad’s Pie, (2018b). Our pies and Pastries [Online] Available From: <https://dadspies.co.nz/our-pies-and-pastries> [Accessed on: 21-08-2018].
Dad’s Pie, (2018c). New And Blog [Online] Available From: <https://dadspies.co.nz/news> [Accessed on: 21-08-2018].
Dad’s Pie, (2018d). Eddie Grooten’s tips for keeping good staff [Online] Available From: <https://dadspies.co.nz/news/article/eddie-grootens-tips-for-keeping-good-staff> [Accessed on: 21-08-2018].
Dad’s Pie, (2018e). How they make it: Dad’s Pies on Growth Path as Japan develops appetite for pies [Online] Available From <https://dadspies.co.nz/news/article/how-they-make-it-dads-pies-on-growth-path-as-japan-develops-appetite-for-p> [Accessed on: 21-08-2018].
Davidsson, P., (2015). Entrepreneurial opportunities and the entrepreneurship nexus: A re-conceptualization. Journal of Business Venturing, 30(5), pp.674-695.
Fischer, T.M. and Sawczyn, A.A., (2013). The relationship between corporate social performance and corporate financial performance and the role of innovation: Evidence from German listed firms. Journal of management control, 24(1), pp.27-52.
Gronroos, C. and Gummerus, J., (2014). The service revolution and its marketing implications: service logic vs service-dominant logic. Journal of Managing service quality, 24(3), pp.206-229.
Gronroos, C. and Voima, P., (2013). Critical service logic: making sense of value creation and co-creation. Journal of the academy of marketing science, 41(2), pp.133-150.
Gundry, L.K., Ofstein, L.F. and Kickul, J.R. (2014). Seeing around corners: How creativity skills in entrepreneurship education influence innovation in business. The International Journal of Management Education, 12(3), pp.529-538.
Kilelu, C.W., Klerkx, L. and Leeuwis, C., (2013). Unravelling the role of innovation platforms in supporting co-evolution of innovation: Contributions and tensions in a smallholder dairy development programme. Journal of Agricultural systems, 118, pp.65-77.
Koryak, O., Mole, K.F., Lockett, A., Hayton, J.C., Ucbasaran, D. and Hodgkinson, G.P., (2015). Entrepreneurial leadership, capabilities and firm growth. International Small Business Journal, 33(1), pp.89-105.
Leyden, D.P. and Link, A.N., (2015). Toward a theory of the entrepreneurial process. Journal of Small Business Economics, 44(3), pp.475-484.
Molaei, R., Reza Zali, M., Hasan Mobaraki, M. and Yadollahi Farsi, J., (2014). The impact of entrepreneurial ideas and cognitive style on students entrepreneurial intention. Journal of Entrepreneurship in Emerging Economies, 6(2), pp.140-162.
Oman, S.K., Tumer, I.Y., Wood, K. and Seepersad, C., (2013). A comparison of creativity and innovation metrics and sample validation through in-class design projects. Journal of Engineering Design, 24(1), pp.65-92.
Payne, A. and Frow, P., (2014). Developing superior value propositions: a strategic marketing imperative. Journal of Service Management, 25(2), pp.213-227.
Perry-Smith, J.E. and Mannucci, P.V., (2017). From creativity to innovation: The social network drivers of the four phases of the idea journey. Academy of Management Review, 42(1), pp.53-79.
Sarooghi, H., Libaers, D. and Burkemper, A., (2015). Examining the relationship between creativity and innovation: A meta-analysis of organizational, cultural, and environmental factors. Journal of business venturing, 30(5), pp.714-731.
Somech, A. and Drach-Zahavy, A., (2013). Translating team creativity to innovation implementation: The role of team composition and climate for innovation. Journal of management, 39(3), pp.684-708.
West, M.A., Hirst, G., Richter, A. and Shipton, H., (2014). Twelve steps to heaven: Successfully managing change through developing innovative teams. European journal of work and organizational psychology, 13(2), pp.269-299.
Yoshida, D.T., Sendjaya, S., Hirst, G. and Cooper, B., (2014). Does servant leadership foster creativity and innovation? A multi-level mediation study of identification and prototypicality. Journal of Business Research, 67(7), pp.1395-1404.
Order an Essay Now & Get These Features For Free:
Turnitin Report
Formatting
Title Page
Citation
Outline
