The meaning of creativity is the capability to create, articulate or apply inventive ideas, techniques and perspectives often in a collective environment. In this article, we are going to discuss,
- Meaning of Creativity and,
- Role of Creativity in Entrepreneurship
Meaning of Creativity
The meaning of creativity is, the capability to create, articulate or apply inventive ideas, techniques and perspectives often in a collective environment. Entrepreneurship is a creative action focused on excellent communication of production aspects through a suitable investment and motivated behaviour and with rational risk-taking.
Creativity shows imagination and novelty of thought in moving beyond ordinary thinking. It can be considered by extending or even breaking the rules of convention. Even the slightest departure from the norm is defined as creativity.
creativity as the realising of our potential, concerning the integration of our logical side with our intuitive side. It can contain an advance in thought but may also retain relations with the past.
Let’s move on to the practical world. Day by day world has new problems, new obstacles, and new risks. But the world going forward, and people going forward because of creativity. People see these problems and they come up with a solution. These solutions are because of their creativity. For example, fuel is the power source which people used mostly in the past. It is harmful to the environment by increasing global warming through carbon emissions. Nowadays we can see the world is more focused on renewable energy sources like solar and electricity. These thing helps to get out on using fuel step by step. So, this is how the world goes forward by creativity. But creativity starts as the thought process and it needs to convert into a novel solution.
Creativity is one of the main appliances of the economic development of modern business. Thus, lately, it has been treated as the eventual economic resource. Reaching the viable advantages in a global market and an ever more complex business environment of a contemporary organisation leads to the circumstances under which a traditional manner of running a business is impossible. so, organisations need to be more creative than past to overcome these challenges.
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Role of Creativity in Entrepreneurship
Creativity removes the limits to the mindset and skill set of an entrepreneur. it helps to gain a competitive advantage over others in the field. However, creativity plays a major role in the field of entrepreneurship.
As such, entrepreneurship and creativity form an interconnected combination. It no longer takes number-crunching skills and practicality to run an effective business. Over time, creativity has become a vital component of good business acumen. A lack of creativity could simply drag your business into a stagnation approach.
Here are the 10 Roles of Creativity in Entrepreneurship.
01. Creativity Helps to Achieve High Overall Success
There is a misconception that people only need intelligence to achieve everything they need in life. However, it takes time for aspiring entrepreneurs to understand that creativity plays an integral role as well. Unfortunately, most of them stress more intelligence than creative thinking. It could perhaps be because intellectual knowledge is assessable whereas creativity can be challenging to spot.
creativity expand the way people do things and their thought process. It helps to break the usual routine and create new ways. Once you build a creative environment in your inner place or your workplace it gives you wings to achieve high overall success.
Read Innovation Definitions and Importances – Click here
02. Creativity Foster the Innovations
Manufacturers create unique products to not only meet purchaser expectations but surpass them as well. As such, entrepreneurs need to be careful to ensure their products are relevant and useful to the users.
While it may be difficult to identify this from the start, things start to get more detailed as your idea goes into reality. This is the period an entrepreneur starts to understand how innovation and invention differ. The invention denotes a new, unique concept while innovation is an idea which is as unique and beneficial as the original one. You need to be creative and view an idea in a different way to be innovative. Then it’s easier to turn a concept into a reality. Creativity is required in a booming business, but how often do we study the role of creative thinking in the foundation of a business? Creativity is just as vital for entrepreneurs as it is for those looking to sustain an advantage over the competition in well-established organizations.
10 Types of Innovations with Examples – Click here
03. Creativity Helps to Use Optimal Employee Potential
An entrepreneur uses full employee potential by inspiring creativity in the workplace. There might be a bulk of ideas which are undeveloped and ready to be utilized. By identifying such creativities, an entrepreneur can earn results in the form of profitability, financial strength, and effective decision-making.
When workers are inspired or motivated, they do their full capacity. Also, a little more effect is already needed to succeed on a new idea. So, all you need to do is create a suitable environment for creativity to get the full potential of your employee.
04. Creativity Builds Competitive Advantages
Creativity helps to generate novel and innovative traditions of doing business. Discovering new markets and generating novel ideas lead to efficacy and finally give an entrepreneur the required edge over the competition.
Creativity builds competitive advantages like the following.
1. Conquering Fear
2. Practising Courage
3. Commit to Perseverance
4. Bring Some Confidence
5. Stand Out
These things help to increase organizational competitiveness through creativity.
05. Creativity Enhances Product Development and Entrepreneurial Quality
Creativity inspires new ways of developing present products or services, thereby improving business activities in the organization. A creative entrepreneur knows how to make improvements in the deliverables of an organisation.
The benefit of taking creativity as a priority leads entrepreneurs towards improved value. Creativity vital to solving the problem occurs and needs to come up with a relevant and reliable solution. Entrepreneurs need to think out of the box to boost their entrepreneurial qualities.
06. Creativity Changes the Status Quo
Creativity enables an entrepreneur to get novel viewpoints on business processes or financial/operational problems. It is creativity that aids an entrepreneur to abandon the status quo and follow a path of enormous discoveries. Creativity ignores usual status and lets an entrepreneur think outside of the box. Outdated solutions are shut and new, exciting, & versatile options are explored. It leads to Thinking the Unthinkable.
07. Creativity Creates New Niches, New Markets
Analyzing the traditional business approach and coming up with new aspects of doing business activities are also very vital for an entrepreneur. This can lead to a revolution in the methods of manufacturing or service distribution or supply chain, and so on. This all creates new niches for a possible business and leads to victory.
New niches or new markets mean they don’t have any other competitors in the market. The only competitor is your firm. So no need to follow any others in the industry other competitors follows you.
Do you know about technopreneurship – Click here
08. Creativity Connects all Departments
Overall connectivity is vital for business organisations. It helps to accomplish organizational goals and targets with a group-wise approach. Because playing as a team has stronger than playing as an individual.
Think about a firm introducing a new product to the market as an output of creativity. The product development team works to create the best design, the production team works to create quality and effective output, and the marketing team works to market newly introduce a product, likewise, creativity helps to connect all of the departments in the organisation.
09. Creativity Boosts the Business Reputation
In the modern market nowadays, entrepreneurs with similar features of products need to find different and appealing to charm customers. The product and services for certain businesses should be able to identify with others. Creative entrepreneurs must be able to add speciality value to their products and services. The specialities could attract customers and be remarkable. However, to keep the reputation running for the long run creativity need to innovate from time to time without losing its touch and uniqueness.
10. Creativity Encourage Critical Thinking
Creativity is gradually turning out to be one of the best ways to ease problems plaguing today’s enterprises. Problem-solving works top when attached to highly disciplined and focused thinking. Entrepreneurs can think in any divergent or convergent thinking mode.
Convergent thinking involves detailed analysis and allows an entrepreneur to find the most practicable solution to a managerial or financial problem. It allows entrepreneurs to use numerous data sources such as accounting software and computer systems.
In contrast, divergent thinking encourages creativity by allowing business owners to discover possible solutions for the same problem. While entrepreneurs can combine both thinking modes. Divergent thinking certifies an enterprise gets the best resolution.
Conclusion
As we talk about, the Role of creativity is very much important in today’s competitive context of the business. We discuss those important through the 10 Roles of Creativity. These are 1) help to achieve high overall success, 2) Foster Innovations, 3) Use Optimal Employee Potential, 4) build Competitive advantages, 5) enhance product development and entrepreneurial quality, 6) Change the Status Quo, 7) create new niches, new markets, 8) connects all departments, 9) boosts the business reputation and lastly 10) Encourage critical thinking.
So, what are your thoughts about creativity and the role of creativity? The comment section is open up to you.