Entrepreneurial Creativity and Innovation

Entrepreneurial Creativity and Innovation…

• Creativity and innovation are intertwined
• Understand the entrepreneurial/innovative economy
• Explore entrepreneurship and innovation as individuals and teams

The Impact of Entrepreneurial Innovation

To be successful, innovation needs to be valuable (Hisrich and Kearney, 2014). For example, innovations by the likes of Thomas Edison, Larry Page, Mark Zuckerberg, Stephanie Kwolek.

Creativity describes an idea which is both novel and useful. Without creativity, there would be no innovation.

Creativity can: develop, Modify, or Combine.

• Creativity is the building block of innovation
• The movement away from existing practice
• The creation of something new or advanced with the intention of creating a benefit- meeting the needs and wants of consumers
• Creativity can lead to inventions but it must be commercially valuable to be an innovation

(Informed by Hisrich and Kearney, 2014)

Conditions for Creativity to Flourish

• Open-mindedness and objectiveness
• Perseverance and dedication to continuously seek and produce ideas
• An ability to put existing or new ideas together in creative ways
• Drive and ability to overcome obstacles
• Moderate risk taker
• Intrinsic motivation
• Internal locus of control
• Desire to achieve and grow
• Driven by growth and development

(Hisrich and Kearney, 2014:29)

The Innovation Process

• Idea Generation
• Selection of most viable idea
• Turning idea into reality
• Implementation

Creativity can lead to incremental or radical innovations.

• Radical Innovation – quick, drastic and shock impact
• Incremental Innovation – steady, progressive and over time

Most of the Theory that exists on this topic tells us:

• Creativity and Innovation is not possible without people who have aquired competences, motivation, and curiosity Hisrich and Kearney, 2014: 25
• Management must allow freedom for creativity and innovation to avoid professional burn-out and keep its business innovative (Noworol et al., 2017)
• Creativity creates opportunity in the global environment and can lead to competitive advantage (see Virgin case study in Hisrich and Kearney, 2014: 24)

Useful Links & Recommendations

Recommended Reading

• Hisrich, R.D., and Kearney, C. (2014). Managing Innovation and Entrepreneurship, Sage, UK. Chapters 1,2,5 and 6.
  Please also read the case studies within those chapters

Useful YouTube Clips

• Guy Kawasaki: The Art of Innovation
  https://www.youtube.com/watch?v=Mtjatz9r-Vc&t=313s
• Giovanni Corazza: Creative thinking – how to get out of the box and generate ideas
  https://www.youtube.com/watch?v=bEusrD8g-dM
• Sir Ken Robinson: Do schools kill creativity?

References

• Jones, R., Morish, S., Deacon, J., and Miles, M. Entrepreneurial Marketing in Small Enterprises, in Blackburn, R., De Clercq, D., and Heinonen, J. (2018). The SAGE Handbook of Small Business and Entrepreneurship, Sage, UK.
• Hisrich, R.D., and Kearney, C. (2014). Managing Innovation and Entrepreneurship, Sage, UK.
• Noworol, C., Žarczyński, Z., Fafrowicz, M., and Marek, T. Impact Of Professional Burnout On Creativity And Innovation, in Schaufeli, W.B., Maslach, C., and Marek, T. (2017). Professional Burnout: Recent Developments in Theory and Research.

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