Crytical analysis

Introduction

The purpose of this essay is to critically analyse the statement of Timmons that “The notion that creativity can be learned or enhanced holds important implications for entrepreneurs who need to be creative in their thinking.” (Deakins & Freel, Entrepreneurship and small firms 3/e, 2003).

In order to analyse an above statement I am going to use Secondary data, which is available in the forms of different books and statements of people who has close relation to the topic of creativity and entrepreneurship. I am going to compare different opinions with their advantages and disadvantages by providing examples and real scenarios from the life.

In this essay I am not going to use any primary data due to the reason of time shortage of the task.

Literature Review and Critical Analysis

This chapter investigate the relevant literature on the topic of essay. Before starting a critical analysis it is better to see an academic definitions of Creativity and Entrepreneurship and clearly understand what is it creativity and entrepreneurship.

According to Oxford Dictionary "Creativity" - relating to or involving the use of the imagination or original ideas to create something. In the second definition "Creativity is defined as a tendency to generate or recognize ideas, alternatives or possibilities that may be useful in solving with others, and entertaining ourselves and others. (Franken, 1993)

While Entrepreneurship is the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits. (Collins, 2011) Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort; assuming the accompanying financial, psychic and social risks and uncertainties; and r...

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...sary for successful exploitation. (Hisrich, Peters, & Shepherd, Entrepreneurship 8th Edition, 2009) Sometimes there are also such situations that after creation process of something people do not know what to do next and the whole idea die. Another disadvantage of creativity role in entrepreneurship in the words of Teresa Amabile is that creativity was considered unmanageable, too elusive and intangible to pin down and because concentrating on it produced a less immediate payoff than improving execution, it hasn’t been so famous among most entrepreneurs attention. (Khaire, 2008) She also stated that creativity by itself will not provide success to the enterprise, in order to succeed there must be two others essential things such as: expertise and motivation, without which it will be mostly impossible to succeed for the companies in this highly competitive market.