Creativity is a source of competitive advantage, since it enables both innovation and creative industries. In order to cultivate creativity in individuals, we must first understand what creativity is, and how and why individual characteristics and organizational contexts contribute to creativity. Our purpose was to review models of creativity and associated empirical findings to reveal key insights and suggests areas for future research. The implicit or explicit models of creativity motivating previous research can be categorized into three types: Person, context, and mixed person and context. Pure person models examine only the influence of individual’s traits or situationally induced states on creativity. The pure context models examine only the impact of contextual influences on creativity. Mixed model studies examine both the influence of organizational context and individual difference characteristics interactively. Four key findings emerged. Creativity cannot occur in the absence of a supporting context. Prevailing social norms of the context prescribe and describe what is creative. Leaders and the groups to which individuals belong provide important contextual cues that enable the creativity of individuals. Foremost among the issues that still need to be addressed by future research is the multi-dimensionality of creativity; assessment of creativity as both process and outcome; creativity as a group-level phenomenon; global differences in creativity; domain influences on creativity; and, the building of creativity capital in organizations by means of selection versus development human resources policies.