FACTORS DRIVING CREATIVITY AND FUTURE DIRECTIONS FOR ECONOMIC EMPOWERMENT

Abstract

Creativity is an indispensable ingredient in economic development over the long period. It refers to how institutions approach problems and solutions within the capacity to put existing ideas together in new combinations. creativity arise out of the need for efficiency, economy, effectiveness, performance evaluation ethics and market concerns. In an ever-changing global economy, Johnson and Scholes (2002) noted that institutions must find ways for operating by developing new competences as the old advantage and competences gained are quickly eroded owing to dynamics of the environmental changes. Because of the fact that changes are a necessity in private as well as public sector, every institution must change with the environment otherwise, they would become irrelevant.