The process of generating new ideas and considering existing ideas from new perspectives.

Creativity includes the ability to recognize the value of ideas when developing innovative responses to problems; it may be evident in the process as well as outcomes, products or solutions. The creation of ideas and solutions involves a process of synthesizing and evaluating in response to surrounding changes.

• Encouraging creativity within the organization helps to foster innovation, problem-solving, and the development of unique ideas.

• By nurturing a culture of creativity, firms can explore new opportunities, create competitive advantages, and adapt to changing market demands.

• Emphasizing creativity allows firms to generate new perspectives and solutions to address existing challenges.

Creative business planning can lead to organizational success

Refers to the moral principles and values that govern the behaviour of a person or group of people

It is important to note that every business decision has moral implications.

These decision-making processes are based on moral philosophies or guidelines that influence the way a business conducts itself. The consequences of these implications can be significant for internal and external stakeholders and the natural environment

• Upholding ethical principles and practices is paramount for sustainable and responsible business conduct.

• Ethical considerations guide decision-making processes, ensuring that firms operate with integrity, transparency, and respect for stakeholders.

• By embracing ethical standards, organizations can build trust, enhance their reputation, and create a positive impact on society and the environment.

Ethical business behaviour improves a business’ image as well as customer loyalty

“Meeting the needs of the present without compromising the ability of future generations to meet their own needs” (UN 1987).

Sustainability can be enhanced by conserving resources or finding more efficient ways to produce or discover new resources. Business decisions should consider the triple bottom line of people, planet, profit, and their resulting impacts

• Integrating sustainability principles can improve the long-term viability of firms while minimizing negative impacts on the environment and society.

• By considering economic, social, and environmental factors, firms can pursue strategies that balance profit generation with responsible resource management, social equity, and environmental care.

• Drives firms towards sustainability, waste reduction, social responsibility, and a better future.

Sustainable business practices can enhance a business’ existence

Change refers to the modification or transformation in the way business is conducted as a response to internal factors or external influences.

Inquiry into the concept of change involves understanding and evaluating causes, processes and consequences.

Due to increasing competition, new technologies, and markets as well as changing trends in consumer behavior, business organizations need to adapt their objectives, strategies and operations if they are to succeed. 

This success emerges from their ability to research and respond to signals in both the internal and external environment.

• By fostering a change-oriented mindset, organizations can identify opportunities, restructure operations, and remain agile in a highly competitive environment.

• Embracing change as a core concept enables firms to respond proactively to market dynamics, technological advancements, and evolving customer needs.

• Change is inevitable in the business world, and organizations must be adaptable to change in order to survive and thrive.

Change is essential for businesses to achieve their desired aims