Creative Thinking

Creativity in Entrepreneurship  focuses on entrepreneurs generating novel and useful ideas for their businesses. Knowledge in this regard is significant, because it has a tremendous potential to enhance creativity and the lack of it causes creativity to diminish.

In a world where entrepreneurs face major challenges trying to keep abreast in economic downturn, such novel ideas can be developed into potentially rewarding products and services. The success of these ideas, hinges on a touch of familiarity but novel enough to standout from the crowd.

Novel ideas are the lifeblood of entrepreneurship. 

In entrepreneurial success stories entrepreneurs

1.       Generate valuable ideas for new goods & services.

2.       They must appeal to some identifiable market.

3.       The project must be brought to fruition.

Novelty and usefulness is the basis for creative ideas. It is existing knowledge structures that embrace cognitively, to create such novelty. If research proves that existing knowledge structures play a major role in creative idea formation, then one should recognize the importance of increasing one’s knowledge base, to manipulate the process qualitatively.

Creative ideas are viewed as naturally taking place when existing knowledge structures are mentally processed. The success of the process or the novelty of the ideas created, is the result of two or more previously separate concepts or images merging into a single new unit. Such novelty is indispensable and can be exploited as new products and market niches. New products and services are constantly being brought to the market by creative entrepreneurs. Clearly, humans have the capacity to move beyond what exists to generate new ideas.

Psychologists say people store information about their experiences in organized structures and access that information for subsequent tasks. Knowledge can be made the bridge to the next new development. Simply Overloading information on the other hand can place restrictions on creativity, as the width of information range gets broader and stored in even broad structures, that are directly irrelevant to the job at hand.

Nothing cannot produce something. For an entrepreneur to come up with new ideas for products or services or even both, it must be first crafted in the mind of the entrepreneur. He or she must make use of their existing knowledge structures to give birth to new ideas. Creativity sparks off when such knowledge structures can be influenced, either through internal stimuli or outer stimuli or both. It is the depth to which these existing knowledge structures can be influenced and combined, lies true creativity and originality of idea generation.

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