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    The Role of Creativity in Entrepreneurship

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    yoshita91
    Creativity is essential for entrepreneurship and involves generating novel ideas, products, or processes. There are four stages of creative thinking: preparation, incubation, illumination, and verification. Creativity leads to innovation, which creates new value and wealth. Entrepreneurship requires qualities like creativity, risk tolerance, and adaptability. Educational programs aim to develop entrepreneurial skills through activity-based projects, teamwork, use of technology, and business incubators to encourage innovation. Creativity is key at every stage of entrepreneurship.

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    The Role of Creativity in Entrepreneurship

    Uploaded by

    yoshita91
    219 views14 pages
    Creativity is essential for entrepreneurship and involves generating novel ideas, products, or processes. There are four stages of creative thinking: preparation, incubation, illumination, and verification. Creativity leads to innovation, which creates new value and wealth. Entrepreneurship requires qualities like creativity, risk tolerance, and adaptability. Educational programs aim to develop entrepreneurial skills through activity-based projects, teamwork, use of technology, and business incubators to encourage innovation. Creativity is key at every stage of entrepreneurship.

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    its all about the culture of entepreneurs and entrepreneurship in our country.

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    Creativity is essential for entrepreneurship and involves generating novel ideas, products, or processes. There are four stages of creative thinking: preparation, incubation, illumination, and verification. Creativity leads to innovation, which creates new value and wealth. Entrepreneurship requires qualities like creativity, risk tolerance, and adaptability. Educational programs aim to develop entrepreneurial skills through activity-based projects, teamwork, use of technology, and business incubators to encourage innovation. Creativity is key at every stage of entrepreneurship.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    219 views14 pages

    The Role of Creativity in Entrepreneurship

    Uploaded by

    yoshita91
    Creativity is essential for entrepreneurship and involves generating novel ideas, products, or processes. There are four stages of creative thinking: preparation, incubation, illumination, and verification. Creativity leads to innovation, which creates new value and wealth. Entrepreneurship requires qualities like creativity, risk tolerance, and adaptability. Educational programs aim to develop entrepreneurial skills through activity-based projects, teamwork, use of technology, and business incubators to encourage innovation. Creativity is key at every stage of entrepreneurship.

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    of 14

    Creativity in Entrepreneurship

    What is creativity?

    Creative behaviors possessing an element of newness, novelty, and difference (Herrmann, 1996) Creativity is an act, an idea, or product that changes an existing domain, or that transforms an existing domain into a new one, and creative person is whose thoughts or actions bring these changes. (Csikszentmihalyi)

    What is creativity?

    Wallas description of creative thinking, suggests a model in four stages:


    Preparation: problem definition Incubation: resting phase, subconscious mind Illumination: idea of a solution comes to mind Verification: solutions are tested

    Creativity and Innovation

    Creativity leads to innovation Innovation is the specific instrument of entrepreneurship. The act endows resources with a new capacity to create wealth. Innovation, indeed, creates a resource. (Drucker)

    Entrepreneurship is all about innovation


    Innovation is economic or social, rather than a technical term

    Entrepreneurship Entrepreneurship is a way of thinking, reasoning and acting that is opportunity obsessed, holistic in approach and leadership balanced. Entrepreneurial qualities
    commitment and determination, leadership, opportunity obsession, tolerance of risk, ambiguity and uncertainty, creativity, self-reliance and ability to adapt, and the motivation to excel, ability to use failure experience as a way of learning

    Entrepreneurship and Creativity Creative in figuring out a way to work

    Creativity comes in writing an amazing sales letter or visualizing the perfect logo For practicing innovation, they need to be aware of change, and creatively use it to their advantage
    The Unexpected, Process Need, Industry and Market Structures, Demographics. Changes in Perception, New Knowledge (Drucker)

    Entrepreneurship and Creativity

    Tolerance for ambiguity is related to certain entrepreneurial styles Creative destruction


    procedures and destroys or reallocates amassed resources

    Creative in identifying the gap in the market and think up a product

    Efforts in Developing Countries


    Strategy of Entrepreneurship Development programs (EDPs).
    Accelerate the industrial development by enlarging the supply of entrepreneurs Industrial development of rural and less developed areas Enlarging the small and small-medium enterprise sector Providing productive self-employment to a number of young men and women

    EDPs are functioning in India as a School for Entrepreneurs Provided with the many benefits and advantages

    Efforts in Developing Countries

    Diploma holders of science, engineering and technology are being identified and selected for entrepreneurial training
    have technical competency needed to start the new ventures

    Attainment of technological self-reliance is the immediate goal

    Programs should encourage activity-based projects


    increases creativity, positive attitudes toward science, perception, logic development, communication skills, and reading readiness Provides deeper understanding about how they can work better as individuals and together as a team

    Teamwork should be encouraged in these programs


    People who makeup teams have valuable experience of different domains Working in teams focusing on ideas for change, encourages commitment to that process Fun to brainstorm in teams, humor and laughter are outcomes, which spur creativity

    Use of IT tools to promote creativity and thinking, should be incorporated in studies Program should try to present familiar information in unfamiliar context
    presenting information in new and innovative ways to help students look for new possibilities

    Programs should be exciting and fun


    humor encourage innovative thinking

    Business and technological incubators should be established


    Constant creativity and innovation in an appropriately rich environment where novel ideas can be launched and tested

    Programs should entail approaches and activities that build the self-confidence of the students
    Needed most in the verification step (Wallas)

    Creativity plays a very significant role in Entrepreneurship Educational institutions play a vital role in enhancing creative skills of individuals and teams

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