Credit: cio.com

Introduction

All business entities have to invent and change over time for the simple reason that everything changes because of new knowledge, scientific and industrial development, and changing competitive environments. Innovation involves creativity because there has to be a shift in the problem definition for new ways of finding solutions to emerge. Entrepreneurship, which is the overall disposition to avail the power of creativity and innovation to facilitating solution to the problems of society and business, thrives simply due to the advancement of knowledge (Dodgson & Gann, 2010, p. 60). However, knowledge or scientific research that is not controlled is potentially dangerous and even disruptive. Creative problem solving as a theory of business innovation is based on the consideration that all innovations need to be sustainable and fit-for the purposes sought in the industry or business. Creative problem solving depends of safeguards attributed to the situations and circumstances of innovation. Without safeguards and a compounded analysis of the intrinsic and extrinsic factors involved, creativity might be counterproductive. In contemporary management and ethical leadership standards, creative problem solving as a mechanism of innovation should address the immediate needs of the business while also making a critical cognizance of the long-term and protracted consequences.     Continue reading