The difference between Innovation and Creativity

CREATIVITY......

This is the generation of ideas that results in the improved efficiency or effectiveness of a system.

INNOVATION.....
This is the process by which entrepreneurs convert opportunities(ideas) into marketable products.

Here are some sources of innovation....

• Trends like dyeing the hair, putting more make-up.
• Unexpected occurrences like terrorist attacks.
• Incongruities like overnight package delivery.
• Process needs like free products.
• Industry and market changes for example health care industry changing to home health care.
• Demographic changes like retirement.
• Perceptual changes like exercise.
• Knowledge based concepts for example technology, robotics e.t.c.

There are also types of innovation:

• Invention: This is the creation of brand new ideas. Such concepts are revolutionary. For example; the invention of the light bulb by Thomas Edison.
• Extension: This is  expansion of an already product, service or process.This is a different application of a current idea. For example; McDonald's owned by Ray Kroc. 
• Duplication: This is the replication of an already existing idea. This is not the exact replication but adding a  touch to enhance the concept. For example; Wal-mart department stores.
• Synthesis: This is the combination of existing concepts into a new formulation.  For example FedEx.