Corporate Innovation and Entrepreneurship

In the contemporary era, wherein competition in every sector is getting intense, organisations are required to maintain an environment of creativity and innovation in order to differentiate itself from other competitors. Maintaining innovation and creativity is very significant in ensuring the growth, success and sustainability of an organisation in regard to the increasing consumer demands and fierce competition. Creativity and innovation not only ensure sustainability of large-sized organisations, but also the firms that are small-sized and require a competitive edge. Innovation allows an organisation to showcase its business abilities by modifying its functions, operations and business models in such a way that it reflects an enhanced image of the organisation in front of the consumers in the form of improved products and services (Puccio, Cabra and Schwagler, 2017). Creativity is one of the primary forces that drive innovation in an organisation, enhance organisational productivity and improves the problem-solving process of an organisation. Thus, it is essential for the organisations to promote and maintain innovation as well as creative thinking so as to ensure growth and sustainability (Puccio, Cabra and Schwagler, 2017). In this regard, this report primarily intends to formulate a plan for an organisation so as to promote creative thinking with a purpose of enhancing innovation and corporate entrepreneurship. The organisation which has been taken as a reference in this report is Matchbox Architects Live Consultancy which is a project management-based company of the United Kingdom. In an attempt to gain in-depth knowledge about the role of creative thinking and innovation relevant literary findings has been discussed in this report with the help of credible books, journals and online articles.