Innovation And The Entrepreneur The Creative Process | A++ Rated MBA college in Bangalore

On 09/03/2023 07:31:52

Starting and operating one’s own business has been becoming an interesting area for individuals from different walks of life. It may be a man or woman, old or young, someone from reach or poor family background, a technologist or someone without sophisticated technological background, a college graduate, or a high school dropout. It is a fact that entrepreneurship is the key to solving what is known as dependency syndrome on salaried employment and unemployment. In creating and growing a new business, any individual (entrepreneur) needs to understand how to create and manage a new venture and its risk and efforts to overcome the inertia against creating something new. This paper is designed to help you understand different concepts of entrepreneurship and competencies in entrepreneurial development and small business management. bangalore mba top colleges

It also provides you with the desired knowledge, skills, and competencies that would enable you to become confident entrepreneurs who are capable to create and innovate important business ideas. The words entrepreneur and entrepreneurship have acquired special significance in the context of economic growth in rapidly changing socio-economic and socio-cultural climates both in developed and developing countries like Nigeria. The unpredictable ability of entrepreneurs to turn leads into gold or coal into diamonds, which governments have always been excited about the possibility of creating more entrepreneurs in their societies, has made the field of entrepreneurship and small business promotion one of the most consistently popular interventions funded by donors and governments alike. With unemployment frightening as the most challenging socio-economic problem of the next century, a renewed focus has been placed on the major part that small business play in employment creation. mba colleges in bangalore list

The dramatic change in the global political economy in the last decade has also sharpened governments' interest in small enterprises and entrepreneurs. Infrequently has there been greater agreement among countries on the need to use market forces in the simulation of economic growth? Entrepreneurs are now held up to be role models and one of the fastest-growing businesses has become entrepreneurship education the art of starting and running a business. best colleges for mba correspondence in bangalore

Entrepreneurship is the process of creating something different with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risks, and receiving the resulting rewards of monetary and personal satisfaction." ... Hisrich and Peters this definition stresses on four basic aspects of being an entrepreneur. mba in entrepreneurship in bangalore

  • Entrepreneurship involves creating something new value.
  • Entrepreneurship requires the devotion of the necessary time and effort though only those going through the entrepreneurial process appreciate the significant amount of time and effort it takes to create something new and make it operational.
  • Entrepreneurship assumes risk in the form of financial loss, psychological tension, and social problems.
  • Entrepreneurship also involves rewards of independence, followed by personal satisfaction and money.

It is important to recognize the role of creativity in the innovative process. Creativity is the generation of ideas that result in the improved efficiency or effectiveness of a system. Creativity is the process that can be developed and improved. Everyone is creative to some degree however; as is the case with many abilities and talents (e.g. athletic, artistic) some individuals have a greater aptitude for creativity than others. Also, some people have been raised and educated in an environment that encouraged them to develop their creativity. They have been taught to think and act creatively. mba in business analytics in bangalore

Many people incorrectly believe only a genius can be creative. Most people also assume people are born creative and others are not, or only the gifted or highly intelligent person is capable of generating creative ideas and insight. Yet, the real barriers to creative thinking are sometimes the inadvertent “killer phrases” we use in our communication. best mba courses in bangalore

People may not intentionally stop a creative idea, but these simple negative phrases prohibit people from thinking any further. Creativity is not some mysterious and rare talent reserved for a select few. It is a distinct way of looking at the world that is oftentimes illogical. The creative process involves seeing relationships among others have not seen (e.g. modems-using telephones to transfer data among computers).

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