Introduction. The future of organizations depends decisively on their ability to constantly improve their technologies and processes and, on this basis, to develop new products and services that correspond in quantitative and qualitative terms to the evermore diversified requirements of the demand bearers.
Aim of the study. The paper addresses relevant aspects related to creativity and innovation as inexhaustible sources of sustainable competitive advantages. The conceptual framework of creativity is defined and the important phases of a creative process are delimited. The main types of innovations are briefly presented, while at the same time the variables defining the innovation capacity of organizations are revealed. The final section of the paper highlights the key role of management in stimulating creative and innovative processes within organizations and in developing innovative projects.
Keywords: organization, creativity, innovation, management, sustainable competitive advantage.
JEL Classification: M10, L21, O31, O32.