The 9th International Conference European integration New challenges The University of Oradea, Faculty of Economic Sciences, 24-25

5 May 2013, Oradea, Romania

C

Innovation in the creative industries

- case study of an event planning company Degree of newness for local competitors

Creative industries creativity as an input and content

or intellectual property as the output. is a Romanian SME active in the event management industry started in 2012. For Enrose, innovation is defined by a 3D referential system in which they compare the companys history, the clients history and what the competitors are doing. Double-sided innovation based on large financial endowments for a trendy inventory and on the creativity enacted in the process of satisfying each clients requests.

Adina Filculescu and Ramona Cantaragiu, UNESCO Department for Business Administration, Faculty of Business Administration, The Bucharest University of Economic Studies, Bucharest, Romania.
Degree of newness for customer

2. Negotiation of the idea

- techniques: presenting the features with an emphasize on the benefits, showing flexibility to the budget they want to invest in their event, making visual boards and sketches or even live demos for a better understanding of the final outcome. - risks: misunderstandings in relation to final outcome, negotiating with a person who is not the decision maker

The creative innovation process

1. The generation of an idea
- a mixture of different sources of innovation: the entrepreneurs knowledge (from books, trainings in public speaking, leadership and negotiations, business conferences, artistic events); the investments made in up-to-date equipment and technologies in line with recent trends in decorations; collaborations with experts from various fields (architecture, construction, arts and music, marketing) - clients are the the most important source - risks: clients wishes that are outside of the production capacity of the business

a new method of doing things that has a positive impact on the quality of the clients life. The purpose of innovation in event organizing is to transform moments from the lives of normal people in larger than life experiences To be innovative is to engage in a continuous improvement of your clients lives.

3 and 4. Preparation and implementation

- everyday problems, spontaneous innovation - risks: lack of coordination among collaborators, cancelations

Innovation is concomitant with risk assessment and risk mitigation.

Understanding innovation has to start from the ways in which the introduction of something new modifies the risk-portrait of the business. Through a focus on risks we might be able to unravel the nature of the innovation process which is not as linear as it appears in retrospect (Green, 2008), but rather sinuous and continuously changed by internal and external factors which for the company can be regarded as risks.

Correspondence address: 2-2A Calea Grivitei, District 1, Bucharest 01070, (+40)21-3191900, ramona_cantaragiu@yahoo.com.