Essay On Creativity And Creativity

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The words creativity and innovation can be heard in the many types of media in day to day life. Here, we will discuss how creativity and innovation are essential parts of entrepreneurs, making a strong base for achievement and success. Drucker (1985) advocated that innovation and creativity is a tool of entrepreneurship. In this essay, some of the examples which support this argument will be discussed . Firstly, creativity is the use of human imagination to create new and different things. Creativity also allows a person to think out of the box which results in innovative or different paths to specific tasks. Apart from that there is another word, that is “Innovation”, “ Innovation is a process of introducing new ideas to the firm which …show more content…

Creativity is made up by three components : 1.Creative thinking skills 2.Knowledge 3. Motivation. Apart from that, most organizations use popular creative techniques like forced analogy, problem reversal , mind map , attribute listing , metaphorical thinking and brainstorming. The following is a good example of creativity. The first example involves numerous people receiving a spam e-mail from foreign countries in which someone informs them they have won a lottery of a million dollars. A fraudulent person want their bank account number and their details for a larger transaction. As you have guessed it is a spam. But there is a creative part : The other day I got an e-mail from antifraud commission of new Zealand. They are busy prosecuting the nasty spammer and fraudsters and using them to compensate the victim. Indeed, I stand to gain nearly $ 400000 as a witness and plaintiff, if I can just pass along the court expenses and initial legal fees. A second life changing example of …show more content…

This idea comes from several business analyses. Innovation is made up of three main bodies 1.generating new ideas 2.selecting good ones 3. Implementing them . Innovation is also related to the several factors such a products, a process and a service or a merger of these. Peter Drucker (1985) made important points that there are seven sources of innovation in entrepreneurship. 1.The unexpected 2.The incongruity 3.Process need 4.Industry and market structure change 5.Demographics 6.changes in perception, meaning and mood 7.New knowledge. Innovative entrepreneurs achieve stronger growth and are more successful. The majority of companies spend more and more money to develop their organization with R&D such as OECD countries spend US 700$ billion per year on R & D. More than 16000 US firms operate their own industrial research labs and there are at least 20 firms which have budgets in excess of 1 billion USD. “ Companies that do not invest in innovation put their future at risk. Their business is unlikely to progress and they are unlikely to be able to compete if they do not seek innovative solution to emerging problems”(Australian government website,2006) . There recently have been some good examples of innovation in entrepreneurship. First its “ Rod Drury ”, he was awarded the HI-Tech New Zealand “Entrepreneur of the year ” in 2006 and 2007. Drury founded Xero ,It is a public listed

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