Fostering creativity and innovation entails coming up with unique ideas, that bring out all aspects of creative thinking, such as analysis, open-mindedness, problem-solving, organizing, and communication. These types of ideas or behaviours, also allow entrepreneurs to be daring and beyond traditional solutions. Also, through this opportunity new, interesting, potential yet versatile ideas come up. Creativity, innovation and entrepreneurship are important in the launch of each innovative product and service that come with advanced technology, just as they help develop new ways of improving an existing product or service to optimize the business. Entrepreneurship is considered a key factor in economic development and I intend to analyse and elaborate on the roles of creativity and innovation in entrepreneurship.
The value of entrepreneurship is being enhanced by creativity and innovation. Creativity helps us how to improve existing business practices. Creativity is typically centred around original thought and knowledge, which unleashes potential and is an integral part of idea generation. It is possible to turn creative ideas into viable solutions. Innovation is about making a process that can convert inventions or gain ideas to become more marketable products or services. Innovation enhances the nature, creativity, and design thinking process of a brand. A new business can attain the height of success by learning the steps of creativity, and by allowing innovation in entrepreneurship to open the doors to various opportunities by helping the business to keep up with the current trends.
Entrepreneurs are important to market economies because they can act as the wheels of the economic growth of the country. By creating new products and services, they stimulate alternative employment, which ultimately results in the acceleration of economic development. Creativity also encourages entrepreneurs to grow in divergent thinking or exploration of many unconventional potential solutions to a problem. Conversely, convergent thinkers are those who excel at analysis and reaching accurate solutions to problems. When divergent thinking with convergent thinking is combined, problem-solving becomes the ‘best of both worlds experiences. Convergent, conventional thought keeps the project focused and grounded, while divergent thought provides novel and unexpected solutions. These unexpected solutions directly translate into new and exciting products and services to become an organizational success. This happens through the process of innovation, which is a graduation point of the creative process to help keep the entrepreneur ahead of the competition to reach new markets. Finally, here are some things the entrepreneur does to encourage creativity and innovation:
- Regular brainstorming sessions with mentors.
- Encouraging ideas from associates and related sources.
- Adopting continual improvement processes in the business systems.
- Delegating personnel to research online.
- Encouraging fact-finding discussions with business associates.
- Encouraging the learning of new skills
- Mystery shopping of opposition for ideas or gaps.
- Thinking about joint ventures with other businesses.
- Working on new ways to improve the business systems.
- Exploring the use of digital platforms.
- Exploring new marketing promotion methods.
Fostering the creative and innovation culture in the entrepreneur makes the business more receptive to novel ideas and provides the right environment to unlock the full potential of entrepreneurship that changes the earth.
2 responses to “Fostering Innovation, Creativity and Economic growth Through Entrepreneurship”
Only a few things are more frustrating than trying to brainstorm with small minds – it is overwhelmingly ambitious for them….. and deflating for the Entrepreneur. Finding the right person/people to share ideas with is key.
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Brainstorming with closed and small minds is a yoke.
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