Creativity as defined in Dictionary.com is “the ability to transcend traditional ideas, rules, patterns, relationships, or the like, and to create meaningful new ideas, forms, methods, interpretations, etc.; originality, progressiveness, or imagination”. While Innovation is defined as ‘something new or different introduced’. Basically, Creativity is the process of generating something new externally and subjectively, Its an internal word which can hardly be measured or defined. On the other hand, Innovation is the process of applying the creative idea in an outward work that can be easily measured and defined.
References:
http://creativityisfree.com/2008/06/06/creativity-vs-innovation/
http://www.corpchange.com/Resources/Changebytes/CreativityInnovation.aspx
http://lateralaction.com/articles/creativity-innovation/
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