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Creative and Innovative Management

Business challenge

Over the past few years, there has been a great development of business in the nation of Hong Kong. Being an integral part of the well-developed China, the country has undertaken innovation and creativity as two major fundamentals of the administrative world. It is noted that along with a tremendous growth of population, the country has witnessed a development of competition across its commercial sector. According to Wang et al. (2016), in order to secure a leading position in the market and also be able to earn an increased amount of income, organisations noticeably concentrate on integrating innovation and creativity in its operations.

Criticality of innovation[PLEASE ARGUE AND EVALUATE MORE ON THE IMPORTANCE OF CREATIVE AND INNOVATIVE MANAGEMENT]

As opined by Goffin and Mitchell (2005), it is the technological and operative innovation elements that help a firm to continue and expand its business in the presence of various business challenges. Moreover, creativity in an organisation plays a major role in motivating and retaining employees in an association. Apart from production and delivery of goods, innovation has significantly restructured marketing, promotions and operations management all across the business industry of Hong Kong (Tsuiet al. 2014).Creativity and innovation goes simultaneously. Creativity and advancement inside a well-run organizations have dependably been perceived as a beyond any doubt way to achievement. Empowering innovativeness and investigating totally new and obscure before domains lead as come about to expanding the efficiency of the association. Urging the representatives to think outside about the case and giving them time and assets to investigate new territories for inventive thoughts is the way to savvy business arrangements (Sarmento 2011).

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