The purpose of this essay is to critically analyse the statement of Timmons that “The notion that creativity can be learned or enhanced holds important implications for entrepreneurs who need to be creative in their thinking.” (Deakins & Freel, Entrepreneurship and small firms 3/e, 2003).
In order to analyse an above statement I am going to use Secondary data, which is available in the forms of different books and statements of people who has close relation to the topic of creativity and entrepreneurship. I am going to compare different opinions with their advantages and disadvantages by providing examples and real scenarios from the life.
In this essay I am not going to use any primary data due to the reason of time shortage of the task.
Literature Review and Critical Analysis
This chapter investigate the relevant literature on the topic of essay. Before starting a critical analysis it is better to see an academic definitions of Creativity and Entrepreneurship and clearly understand what is it creativity and entrepreneurship.
According to Oxford Dictionary "Creativity" - relating to or involving the use of the imagination or original ideas to create something. In the second definition "Creativity is defined as a tendency to generate or recognize ideas, alternatives or possibilities that may be useful in solving with others, and entertaining ourselves and others. (Franken, 1993)
While Entrepreneurship is the owner or manager of a business enterprise who, by risk and initiative, attempts to make profits. (Collins, 2011) Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort; assuming the accompanying financial, psychic and social risks and uncertainties; and receiving the resulting rewards of monetary and personal satisfaction. (Hisrich, Peters, & Shepherd, Entrepreneurship 8th Edition, 2009)
From the above definitions which is stated above it is clear that creativity and entrepreneurship are closely correlated with each other and in combination of both we can get an excellent result, but under a proper investigation of this two aspects as creativity and entrepreneurship we can see that there were a lot of different discussions about this topic and opinions of people divided on two main groups. While one group of academic professors claim that entrepreneurship and creativity must be closely correlated with each other, and others say that combination of creativity and entrepreneurship is not always good. Lets discuss both sides more closely and try to understand reasons of differences in opinions.
In order to prove the statement that creativity is extremely important for entrepreneurship and that they must be closely correlated with each other the godfather of entrepreneurship studies at Harvard Business School Professor Howard Stevenson said that entrepreneurship is the pursuit of opportunities beyond resources controlled and you need to be always inventive, creative,...