Innovation Management: Strategies for Fostering Creativity and Driving Business Growth

Rafael Varcelo  Fucacelo

Authors

Rafael Varcelo Fucacelo Administrative Sciences Department, Central University of Ecuador, Quito, Ecuador.

Keywords:

Innovation Management;, Strategies;, Fostering Creativity;, Business Growth

Abstract

Innovation is increasingly recognized as a key driver of organizational success and competitive advantage in today's rapidly evolving business landscape. This paper explores the critical role of innovation management in fostering creativity and driving business growth. Through a comprehensive review of literature and case studies, the paper examines various strategies and approaches employed by organizations to cultivate a culture of innovation and harness creative potential. It explores the importance of leadership, organizational structures, and supportive ecosystems in facilitating innovation initiatives. Furthermore, the paper investigates the challenges and barriers that organizations face in managing innovation and offers practical insights and recommendations for overcoming these obstacles. By elucidating the nexus between innovation management, creativity, and business growth, this paper provides valuable insights for practitioners and scholars seeking to navigate the complexities of innovation in the modern business environment.

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