2. 7 TH SACCO OPERATIONAL FORUM Johannesburg, South Africa Birchwood Hotel “Need for Creativity and Innovation” BY: SOLOMON ANGUTSA ATSIAYA – I CUDE (CEO- KENYA POLICE SACCO LIMITED

3. Need for Creativity and Innovation in organizations Why should organizations be concerned with fostering creativity and innovation?

4. INNOVATION In today’s global, dynamic and turbulent world, organisations that do not innovate are bound to perish. Innovation has become one of the key values that organisations must embrace to compete effectively in the local, regional or global market. Organisations need to establish and manage the innovation process that will consistently give sustainable results in this knowledge-based economy. Where do best ideas come from, and how can one be sure to reap rewards?

5. THINK OF THIS!! If you are not growing you are dying Innovate or die To be number 1, you must innovate If you remain small you will disappear Competition is a reality

6. Introduction supply vs demand:. -Recall Basic Economics Supply demand

7. Problems vs solutions Be creative now! solutions problems price quantity

8. Further introduction How do you satisfy demand? At what price? At what cost? How do you solve a problem? At what cost? And at what price? What happens if solutions increase or the other way round?

9. Creativity; Efficiency/effectiveness of system to solve problems It is made of people and process. Manifested in adoption or innovation

10. Phases of creative process; Knowledge accumulation - from where? Incubation :Where and when does it take place? ***Idea experience: when solutions appears often unexpectedly. Evaluate/implimentation.

11. What drives innovation? Unexpected occurrences/Sep.11- Incongruities in organizations Process needs eg banks. Industry/market changes often driven by new innovations e.g mobile phones medical care Education relationships-divorce classes

12. Demographic changes-the greying of nairobi Perceptional changes –women men Knowledge based concepts- using knowledge to come with new inventions.

13. Need for Creativity and Innovation in organizations 1.Superior performance is associated with innovation. Evidence from WCOs 2.Customers are increasingly demanding innovation. Customers are continuously experiencing innovations all around them and have, therefore, come to expect further innovation.

14. Need for Creativity and Innovation in organizations 3.Competitors are increasingly getting better at copying innovations Presence of innovation copiers(copycats!) further drives the need for innovation. Hence the need for continuous innovation! 4.New technologies enable innovation Aren’t new technologies actually innovations? New product/process technologies continue to be available.

15. Need for Creativity and Innovation in organizations 5.What used to work, doesn’t anymore! Every new solution will eventually become a solution that no longer works! Hence solutions to problems in the past are no longer effective. Ever-increasing complexity of our environments demands new innovations.

16. THANK YOU LONG LIVE SACCO MOVEMENT