5. Transforming creativity into innovation

Creativity is a key element of innovation. Without it, innovation is merely a superficial renewal for an uncertain market. It is sometimes difficult to gain acceptance for creative expenditure, the results of which can never be taken for granted. Yet creativity is the source of competitiveness.

5.1 Creativity and value: managing uncertainty

Frank Knight's risk theory (1921) explains how uncertainty is the source of profit. A company that makes items that are not very innovative, but necessary (matches, for example) will make a profit, but will be subject to a permanent...

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Bibliography

(1) - PRIGOGINE (I.) - L'homme devant l'incertain. - Éditions Odile Jacob (2001).
(2) - NIU (W.S.) - The philosophical roots of western and eastern conceptions of creativity. - Journal of Theoretical and Philosophical Psychology,...