In an effort to address the needs of twenty-first century businesses, academic institutions are developing courses on creativity and innovation. Students' capacity for learning such strategies are dependent upon implicit theories about creativity and innovation. Presented is an experimental study that examines the differences in 233 MBA students' implicit theories of creativity and innovation. The authors found that MBA students scored higher overall when the term "innovation" was used instead of "creativity." Results indicate that MBA students' perceive "innovation" as a malleable skill and associate "creativity" as an innate talent. Implications for business education pedagogy and future research are presented.