IntroductionRecently, co-creation is a new trend in business and product development. It allows the consumer to collaborate in the creation of value. Co-creation or collaboration and leads to product and service innovation. Success in innovations or in the development of new products and services strongly depends on whether they take into account the needs and requests of potential users and consumers. However, innovation activities are not just created by lone geniuses, but also products that generate success through collaboration, free exchange of ideas and regular interactions with customers and other stakeholders. The purpose of this report is to explain innovation and growth, which is separated into two parts. First, explain co-creation activities and then demonstrate them through a case study. Secondly, explain the innovation performance in TORAY chemical industries and also show the key indicator of how TORAY chemical industries have been able to innovate to achieve sustained growth. Question One: Co-creation Activity Co-creation activity refers to what has emerged or cooperates as a business between company and end users. The customer or end users could be involved in the design and development of customized processes, services and product experiences (Marko Seppa and Stoyan Tanev, 2011). It is a form of business strategy that emphasizes the generation and continued realization of mutual company-consumer value. Interacting with customers in different functions can bring risks and rewards for innovation. Innovation is about effectively exploiting new ideas. Therefore, customers can provide innovation in the business as both tangible and intangible inputs. They can also be direct and indi... middle of paper ......product brands to convey both positive and negative experiences to the world. When a company understands co-creation and adapts to social networks to communicate with their consumers and tap into the creativity of their biggest fans. For example, Coca-Cola created the Fan First Interaction campaign by addressing problems with the popular Facebook fan page created by two Coca-Cola fans. The Coca-Cola Company encouraged its fans by creating the "Share a Coke" campaign. The fan who wins the prizes will receive a can of Coca-Cola with a friend's name on it (Ekaterina Walter, 2012). Additionally, Smith's, the crisps brand, announced the campaign asking the public to vote for the new flavor in a shortlist of four. The winner will also win $10,000. It shows that consumer marketing can be generated through co-creation with the chip brand (mumbrella.com, 2009).