Discuss the Concept of Creativity, Invention and Innovation and Their Complimentary Roles in the Field of Entrepreneurship. Which One Do You Think Is Most Vital for the Entrepreneur?
Discuss the concept of creativity, invention and innovation and their complimentary roles in the field of entrepreneurship. Which one do you think is most vital for the entrepreneur?
INTRODUCTION
Creativity, invention and innovation are not the same thing. To create a successful product or business, the entrepreneur needs to recognize the differences, and combine them in the right mix. These concepts are closely linked together. They make us think of something new, something really different. However, they are very distinctive and related in such an amazing way.
At the very “CORE” of the new is creativity. With this, people dare to think of strange, and sometime crazy, things. Creativity is a process by which a symbolic domain in the culture is changed. New songs, new ideas, new machines are what creativity is about (Mihaly 1997). Creativity is the ability to make or otherwise bring into existences something new, whether a new solution to a problem, a new method or device, or a new artistic object or form. Wyckoff (1991) defines creativity as new and useful. Creativity is the act of seeing things that everyone around us sees while making connections that no one else has made. Creativity is moving from the known to the unknown. No entrepreneur or enterprise, however successful and big, can continue to hold a place of leadership unless it recognizes that modern business operates in a world of galloping change which creates new problems, risk and opportunities and for which they have to mobilize the enterprise’s resources before changes make their impact felt. To do successfully, the entrepreneur and enterprise should know where this firm is going and how the firm will get there. This is turn requires a clear definition of the company’s business which will enable it to continually adopt operations to the realities of the market place, ‘the very corner stone of survival and growth”
Innovation is defined as adding something new to an existing product or
INTRODUCTION
Creativity, invention and innovation are not the same thing. To create a successful product or business, the entrepreneur needs to recognize the differences, and combine them in the right mix. These concepts are closely linked together. They make us think of something new, something really different. However, they are very distinctive and related in such an amazing way.
At the very “CORE” of the new is creativity. With this, people dare to think of strange, and sometime crazy, things. Creativity is a process by which a symbolic domain in the culture is changed. New songs, new ideas, new machines are what creativity is about (Mihaly 1997). Creativity is the ability to make or otherwise bring into existences something new, whether a new solution to a problem, a new method or device, or a new artistic object or form. Wyckoff (1991) defines creativity as new and useful. Creativity is the act of seeing things that everyone around us sees while making connections that no one else has made. Creativity is moving from the known to the unknown. No entrepreneur or enterprise, however successful and big, can continue to hold a place of leadership unless it recognizes that modern business operates in a world of galloping change which creates new problems, risk and opportunities and for which they have to mobilize the enterprise’s resources before changes make their impact felt. To do successfully, the entrepreneur and enterprise should know where this firm is going and how the firm will get there. This is turn requires a clear definition of the company’s business which will enable it to continually adopt operations to the realities of the market place, ‘the very corner stone of survival and growth”
Innovation is defined as adding something new to an existing product or