Individual Essay Example | Topics and Well Written Essays - 1000 words

Individual - Essay Example This paper will discuss how entrepreneurs use creativity to develop business ideas and innovations. Entrepreneurs are able to use creativity through managing risks and uncertainties. This is through analyzing ideas and determining whether they are worth investing in. They then determine the best strategies to use and how to maximize returns through the use of scarce resources. This plays a significant role in enabling them to capture value from innovation (Van and Becker, 2004). Entrepreneurs are able to use creativity through identifying the opportunities for change. Currently, the market has become dynamic. Different aspects keep on arising thereby, creating gaps that can be used to develop ideas (Hoang and Antoncic, 2003). Entrepreneurs are able to manipulate these opportunities to come up with creative ideas. For instance, they are able to observe the tastes and preferences of the customers and note when the customers are changing their consumption behavior. Entrepreneurs pinpoint such opportunities and taps them, thereby coming up with a business idea. Through brainstorming and enquiring from relevant sources, they are able to come up with innovative ideas which attract the interests of the target market (Knutsen, 2002). According to Van and Becker (2004), entrepreneurs calculate the costs of taking up a bright idea forward against the potential gains if that idea succeeds. They know clearly that failure is an intrinsic part of the process. However, they always calculate the risks in order to minimize it completely. In addition, they ensure that they have all materials required to exploit the opportunities in order to gain the necessary benefits (Van and Becker, 2004). Entrepreneurs are able to come up with creative ideas through being alert to changes in the external environment (Voudouris et al., 2007). Whether entering a new market, introducing new products or services, or initiating innovative technologies, they always think of novel ways

A Brief Review of Creativity Essay Example | Topics and Well Written Essays - 250 words

A Brief Review of Creativity - Essay Example The idea that creativity is a result of brain function is based on observations of patients who experienced the split-brain operation (in them, corpus callosum was cut completely). The authors of the article present brief descriptions and examples of how patient with split brain behave in different situation. Then, the authors describe the fundamental finding that the hemispheres can function both independently and simultaneously. In this regard, Bogen and Bogen present their views on creativity and lack of creativity in the end of the article. More specifically, they state that corpus callosum plays an important role in creativity for it transfers information between the two hemispheres. For creativity, a partial hemispheric independence is important as well due to the fact that it is responsible for the dissociation of different stages creativity goes through in its development. While the above-mentioned stages of creativity take place in different hemispheres, corpus callosum passes the information obtained at these stages from one hemisphere to another, and it is this transfer which results in creativity. Bogen, J. E., and J. M. Bogen. "Split-Brains: Interhemispheric Exchange in Creativity."California Institute of Technology. N.p., 2003. Web. 18 May 2015.