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Module 3 Objective 1 Lecture Notes - Creativity Role & Importance

Creativity is defined as the ability to generate useful ideas and solutions, playing a crucial role in entrepreneurship by driving innovation and competitive advantage. It fosters higher success rates, encourages diverse thinking, and helps transcend disciplinary boundaries, ultimately increasing productivity and exploiting employee potential. Importantly, creativity can be developed and harnessed, making it a vital skill for individuals and organizations alike.

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13 views2 pages

Module 3 Objective 1 Lecture Notes - Creativity Role & Importance

Creativity is defined as the ability to generate useful ideas and solutions, playing a crucial role in entrepreneurship by driving innovation and competitive advantage. It fosters higher success rates, encourages diverse thinking, and helps transcend disciplinary boundaries, ultimately increasing productivity and exploiting employee potential. Importantly, creativity can be developed and harnessed, making it a vital skill for individuals and organizations alike.

Uploaded by

Antonia Pierre
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Entrepreneurship Unit 1

MODULE 3 – Objective 1
Lecture Notes – The Role & Importance of Creativity

Definition of Creativity
Creativity is designed as the tendency to generate or recognize ideas, alternatives or possibilities
that may be useful in solving problems, communicating with others and entertaining ourselves
and others.

Tests of creativity measure not only the number of alternatives that people can generate but the
uniqueness of those alternatives. The ability to generate alternatives or to see things uniquely
does not occur by change; it is linked to other more fundamental qualities of thinking, such as
flexibility and tolerance of ambiguity or unpredictability.

Role of Creativity
Creativity plays a vital role in entrepreneurship, acting as the driving force behind innovation,
problem-solving, and the development of unique value propositions. It helps entrepreneurs
identify new opportunities, create unique products and services, and adapt to changing market
conditions, ultimately leading to competitive advantage and sustainable growth.

Importance of Creativity
1. It Fosters Innovation
When you create something and you’re attaching your name to it, you want to make sure that it
not just satisfies customer expectations, but also exceeds them. You need to be careful and
ensure that your product/service will be useful. Although it may be difficult to see this from the
beginning, especially when your offering is still just an idea, things will get much clearer as the
consecutive steps unfold and the idea starts turning into a reality. This is when you will realize
the difference between invention and innovation. An idea which is unique is an invention, but an
idea which is unique as well as useful is an innovation. In order to innovate, you need to be
creative and look at the same thing differently. This will help you merge usefulness into a unique
idea.

2. Leads to Higher Overall Success


We’re always told that our intelligence will see us through everything in life. However, it is not
until we mature that we realize that although intelligent thinking is a necessary quality to have,
creative thinking has an important role to play as well. The sad fact, however, remains that most
educational institutes and businesses still stress more on intelligence than creativity. This could
perhaps be because the former is easier to measure and manage, whereas the latter can be
difficult to spot. However, times are changing and the world has begun to realize that
organizations need creative people on board as they could bring great benefits if their skills are
adequately shaped and harnessed.
3. It Encourages People to Think
We live in a world where creative problem solving is slowly but steadily turning out to be one of
the best ways to mitigate organizational issues. It works best when coupled with sharp, highly
focused and disciplined way of thinking. People often talk about two modes of thinking –
convergent and divergent. It is said that people can think in either of the two or both the modes.
Convergent thinking is extremely analytical and strives to arrive at one accurate solution to the
problem. Computer systems, accounting software and various other data sources are considered
to come to the solution. Most organizations are adept at this. Divergent thinking, on the other
hand, encourages creative ideas by exploring many plausible solutions for the same problem. In
order to ensure that the organization gets the best resolution, it is important to combine both the
modes of thinking by giving due attention to divergent pathways.

4. It Helps Transcend Boundaries


Most path-breaking discoveries are made when two or more disciplines collide. That’s why it is
essential that the boundaries set by disciplines blur and collisions take place. This is important in
order to get new perspectives towards problems. Creative problem solving is great because it is
actually able to connect two distinct areas or expertise and enable you to extrapolate probable
solutions from one field to an unrelated area.

5. It Helps Increase Productivity


Being creative entails disconnecting from the familiar and moving into uncharted, unfamiliar
territories, with an aim of discerning something unique and useful. It is, therefore, important that
not only the leader be creative, but his employees develop such skills as well. To enable this, an
entrepreneur needs to provide them with the time and the resources necessary to discover
innovative ideas and solutions to issues. This makes for an extremely cost-effective way of
increasing productivity. Creativity and innovation within an organization have always been
known to bring it on the path to success.
6. It Can Help Exploit Employee Potential
By not encouraging their employees to be creative, organizations are essentially utilizing only
half of their potential. The good news is that employees are realizing that there is an ocean of
information and creative ideas that are dormant and untapped at all levels. Tapping all this talent
can involve anything – from improving processes, making them more effective and profitable,
solving performance-related issues, developing new financial strategies, or innovating to stay
ahead of the herd.

7. It Can Be Developed
While most people used to believe that creativity is an intrinsic trait, it is now believed that
creativity is a renewable resource that can be tapped into anytime and be learned. We’re all born
with creative potential and thought process which can be developed and reinforced. Inculcating
new hobbies and skills is a great way to put your inherent creative skills to the test as well as
hone them. It is also an effective way to train your mind to think in a manner that leads to
creative thinking.

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