Personal Entrepreneurial Viewpoint - Essay Example

Personal entrepreneurial viewpoint This paper will discuss entrepreneurial viewpoint. The essay will talk about relationship between creativity, innovation, and enterprise. It will evaluate and identify different perspectives on entrepreneurial success by reflecting and communicating on findings. Further, it will evaluate, refine and create ideas. According to the scores on the GET test, it suggests that the writer has strong creative tendencies that he or she might be able to express through inventive, innovative and artistic activities. However, not all creative individuals have to be enterprising; it is, on the other hand, a feature of the most enterprising. Although the writer (student) may not be able to start his own business, he may not be happy if there is no chance in his work and life to articulate his creativity. He may problems in bringing his ideas to success despite his inventive nature, and other people may end plagiarizing hid ideas. Entrepreneurship enables one to describe an enterprising person as he or she possesses entrepreneurial traits. There are different types of energetic people just as there are various types of entrepreneurs distinguished by their association with business owner management, involvement with new technology, business, motivation, and growth orientation. The inclination to start up and manage projects is referred to as an enterprising tendency. The most ambitious individuals put up projects more frequently and place more innovative projects. This implies that they have to be opportunistic and good at utilizing resources, which include organizational, physical, technological and human resources. The following are qualities of an extremely enterprising person: he takes charge, have a high need for achievement, use of resources to achieve plans and seek opportunities. Others are being innovative and their ability to take risks. Currently, the economy has undergone a transformation from knowledge-based activities to imagination, entrepreneurship, innovation and creativity (Van den Broeck et al. 2008). Increasing technology and globalization impacts have resulted in more business opportunities, but the marketplace has become more crowded and competition has rise (McMullan & Shepherd 2006). Creativity assists the entrepreneur to take action on these opportunities in ways that can result in competitive advantage for the business. It can offer a basis for business growth and innovation as well as leading from the positive impact on the society in general (Bilton 2007). Entrepreneurship happens to all sizes and types of organization, from the home micro enterprises to universal corporations. Before we continue with this discussion, it will be prudent to define these terms entrepreneurship, creativity, and innovation. Entrepreneurship is the procedure of creating value for social communities and business by bringing together exclusive combinations of private and public resources to make use of cultural, social or economic opportunities in an atmosphere of change. Creativity is seen as the building of products or ideas that are new and potentially useful (Amabile 1988). However, in an entrepreneurial sense, there should also be a subsequent link to profitability in social and monetary terms and innovation. These ideas can be externally or internally located, even though the entrepreneur will be inclined to identify and search potential solutions wrought in part by internal competencies. Creativity enables the entrepreneur to take advantage of opportunities that develop due to changing environment (Shalley et al. 2004). There are three underlying dimensions of entrepreneurship: proactiveness, risk-taking, and innovation. Innovation is the technique in which ideas are brought to a gainful conclusion or the way in which the entrepreneur searches for latest opportunities. The test of change lies in its success in the souk of ideas, rather than its uniqueness. Risk-taking refers to the way in which innovation is entrenched in the community, society or business. It relates to the readiness of the people to commit important resources to opportunities that are intended to succeed. Pro-activeness is involved with making things happen by flexibility, perseverance and by breaking with the well-known ways of doing things. Creativity entails perceptual response to the environment that may persuade a low or high frequency of creative attempt. Without extra innovations, development and growth cannot be sustained. However, with added innovations organizations become exciting thus bringing new goods often viewed as an innovation process. The entrepreneur’s winning performance put emphasis on the domination of the marketplace, competing on quality and not prices. Others are having firm operating and financial controls, competition in the area of strength and frequent service or product innovation. However, for every successful business, there exists good strategies but change must be applied to get completive advantage (1985). In most of the current working environments, the typical activities are a problem-solving and learning. There is a belief by some people that true entrepreneurship happens when individuals look for fresh answers and ideas to satisfy the needs of their clients and pay no attention to the established manner of acting and thinking. Entrepreneurship is thus, the innovatory process concerned with the establishment of an economic enterprise. Based on a new service or product that differs considerably from service or products obtainable by other suppliers neither in the way its production is structured nor in its marketing (Curran & Burroughs 1986). Studies have shown that small businesses have a better appetite to innovate than larger ones. Thus, these small businesses are crucial in assisting a state response to myriad changes in the social, technological, and economic environment (Acs & Gifford 1996). OECD, for instance, emphasizes that small organizations are innovative in diverse ways, and they are active especially in coming up with new approaches to marketing and management (OECD/DST/IND 2000). Most businesses need to improve their existing services and products consistently by employing continuous innovation in order to gain prosperity and growth. They must also establish new services and products to meet the unfulfilled needs for it to survive. The critical success of an organization today relies on creativity factor (Basadur & Hausdorf 1996). The thoughtful of attitudes towards encouragement of creative thinking and creativity within the firm are pre-requisites to facilitating creativity in all workers. Efficiency and effectiveness have always dominated the entrepreneurship requirements, but creativity seems to be the core factor of success for entrepreneurs. It results in customer satisfaction and higher levels of quality. The natural world of the business environment is changing with the experience of more unstable conditions (Agor 1991 & Mason 2007). Creative leadership is often deemed more suitable than conservative managerial methods in the mission to deal with these non-linear and often random environmental conditions. The core of organizational competency is creativity (Palus & Horth 2002) and key decision maker’s creativity that is crucial in shaping future business success. In the development of a product, there are also connections between entrepreneurship, innovation, and creativity. The product is developed by the substantial results of creativity, but it is also influenced by the creative ability and creative process of those involved in its production (Magyari-Beck 1990). Knowing what is original demands also knowing what is not creative. As the commercial cannibalization of creativity, innovation is often the driving force at the back of successful business performance, and it should be viewed as an asset rather than surplus cost. Successful entrepreneurs need an edge resulting from some combination of the creative idea and better capacity for execution. The creativity of entrepreneurs entails a method that the existing orders or innovation product. Entrepreneur may also have an exclusive insight into the consequence or course of an external exchange. Thus, entrepreneurship is the vehicle that drives innovation and creativity. Change refers to the thriving development of aggressive edge and thus is the key to entrepreneurship. Novelty and creativity are at the center of the spirit of venture. This implies that struggling to perform activities in a different manner will enable an entrepreneur to bring a unique mix of value. Therefore, the worth of innovation and creativity is to offer a gateway for the shrewd entrepreneurship- actively looking for opportunities to do existing things in an extraordinary way and new things. Innovation and creativity thus, propel and trigger first-rate entrepreneurship in navigating firm’s activities in whatever new guidelines are dictated by customer preference and market conditions in this manner delighting the consumers to the benefit of the stakeholders. Keeping cost under control, mastering details, offering extra quality goods or service and anticipating needs of the market contributes to innovation. The new environment demands transformed dynamism of approach. Only astute organizations can manage changes intrinsic to the new environment. Thus keeping the firm eager, flexible, young, and lean for new things to incessantly delight the customers is entrepreneur’s duty. REFERENCE Agor, W.H 1991, “How intuition can be used to enhance creativity in organisations”, Journal of Creative Behavior, Vol.25, No.1, pp.11-19. Amabile, T 1988, “A model of creativity and innovation in organisations”, In: Research in Organisational Behaviour, (Eds.) Staw, B.M. and Cummings, L.L., USA, Greenwich, CT, JAI Press, pp.123-167 Basadur, M. and Hausdorf, P.A 1996, “Measuring divergent thinking attitudes related to creative problem solving and innovation management”, Creativity Research Journal, Vol.9 No.1, pp.21-32. Bilton, C 2007, Management and Creativity: From Creative Industries to Creative Management, Blackwell Publishing, Oxford. Magyari-Beck, I1990, “An introduction to the framework of creatology”, Journal of Creative Behavior, Vol. 24, No. 3, pp. 151-160. Mason, R.B 2007, “The external environment’s effect on management and strategy: a complexity theory approach”, Management Decision, Vol.45, No.1, pp.10-28. McMullan, J.S. and Shepherd, D.A 2006, “Entrepreneurial action and the role of uncertainty in the theory of the entrepreneur”, Academy of Management Review, Vol.31, No.1, pp.132-152. Okpara F. O 2006, The Practice of Entrepreneurship. Enugu: precision Publishers Ltd. Read More