Entrepreneurship, Innovation, and Creativity Report: Key Concepts

This report delves into the interconnected concepts of entrepreneurship, innovation, and creativity, drawing insights from various sources including 'The Myths of Innovation,' 'Design Synectics,' and 'Business Model Generation.' The analysis examines the role of creativity in fostering innovation and its impact on entrepreneurial success. It explores the myths surrounding innovation, the application of synectics in design, and the importance of business models in guiding entrepreneurial ventures. The report emphasizes the need for entrepreneurs to embrace creativity, adapt to changing market demands, and leverage innovative strategies to achieve business success. Key themes include understanding customer needs, adapting new ideas, and the importance of innovation in all aspects of a business.

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Entrepreneurship, Innovation and Creativity
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The Myths of Innovation:
This book ‘The myths of Innovation’ relies on the fact in what way the big ideas change
the world. We often believe that innovation is based on facts but apparently, it is not. This book
has few myths in the process of innovation (Legrenzi, 2013). The first one is ‘the myth of
epiphany’; this myth highlights the insight of a person to look into the matter of how creativity
occurs despite of the fact on how little role they have in the breakthrough (Dawson &
Andriopoulos, 2014). Epiphany is an inspiration, which provides me with the insight that not a
single idea is original; every idea is invented from a different idea. Epiphany is the consequence
of efforts. I have read few stories about spark of insight the questions that arise in my mind area
a) how long have the creator depleted on working before the flash happened? b) Are all the ideas
they used in the flash theirs or they have reused someone else’s idea? C) How long have they
worked on making the flash successful? I have all these questions in my mind because epiphany
does not prototypes by sacrificing time, only we can do it without any pledge of getting success.
The second myth the book makes me familiar with is the myth of knowing history. We have a
habit of romanticizing the past to live a worthy present. We often knead inspiring and proper lies
as a trap to hide the complex truths of past. Thus, this way the history is tainted. History is not a
straight line. It has few curves and nor the present is straight and has curves.

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Source: (Legrenzi, 2013)
From the above image it can be said that innovation is the condition of mind that a person
has in different situation. The next myth the book tells us is the myth of method. This myth
informs me to challenge with creativity. It is true that I can do every right thing but I will still
fail. The methods we choose to do something may be useful but these methods provide the
information that present is different from the past. The terms innovation system does not have
any meaning because there are many variables in present that clearly states that innovation is an
ancient term (Joshi, 2017). The other myths the book tells us about are that we love new ideas
and want change in everything, the myth of inventor, the myth about the less presence of the
good ideas and last but not the least that the best idea is always the winner (Berkun, 2010).
Design synectics: Stimulating creativity in design. Davis Publications:
This is the second book that I have chosen. Synectics is a Greek word that means
assembling various things through a unified connection. This develops an innovative approach to
designing principles. Synectics provides the idea of creativity in a logical way (Tutt & Duncan,
2013). This book informs me about creativity and provides me the information that study of
synectics is to research creativeness in vivo. This book tells me that we can be creative if we
understand what creativity is actually and how it works. This book gave me the knowledge that
creativity is acceptance of something, which is irrelevant. Emotion is always an intellectual
feeling. If I am able to understand emotion and understand the irrelevant ideas, I will be
successful in knowing what creativity is. Synectics thinking is a process of uniting the irrelevant
elements. This book provides me with a synectics thinking of assembling the disconnected
things, which are apart to produce an insight. I learnt from this book that creativity is

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coordination of few elements into a new form. After reading this book, I have to know that ideas
do not come in our mind unless we identify the work. For initiating creativity in myself, I will
need to gather information from other sources and merge it with what I have in my brain. I will
need to carefully evaluate and research on every subject to bring creativity in my actions. If I
want to be creative I will have to identify the subject then analyse the possible solutions, perform
some research in it and then enhance my thinking and select the best option which can be
implemented in the subject to transform my creativity in a broader way. I will also have to make
contrast in between the elements that are related to my subject to make my thinking more
creative. Creativity is all about enhancing my thoughts so that it can grab every facet of similar
ideas and make me informed enough of all the ideas. For making me creative, all I need to do is
relate to the subject and inject life in them along with broadening of my thoughts (Roukes,
1988).
Business Model Generation: A handbook for visionaries, game changers and challengers
This book is totally based on entrepreneurship and this book is consisting of business
models that will be helpful to design the business. It informs me that while I am doing a business
and I need t know the realities of business loss and have no idea on how to deal with the situation
I will need the help of this book as it consists of every facet of business ideas that will help me to
be a successful entrepreneur. This book provides me many ideas that I can use to implement
innovation and design my business for a better future

4ENTREPRENEURSHIP, INNOVATION AND CREATIVITY
.
Source: (Okpara, 2007)
This image informs me about many concepts of business using many innovative models.
This book provided me with the idea about how to understand and implement business
model or learn to work on your old ideas with a new thinking. This book also has the idea that
will help every businessperson to evaluate the demands of the customers of the business and
distribute the exact channel needed for it. The book has highlighted the techniques used by many
leading companies like Ericson and Deloitte and many others. Thus, this book is very useful for
the businessperson who wants to embrace modern business techniques for creating more values
of the business. Anyone who needs to change the existing rules of their business and adapt new
rules to their business can take the help of this book as this book has the broadest list of business
techniques, tools and ideas (Zhou, 2015). This book refers to all the clauses that are needed to be
a successful entrepreneur. This book has provided me with all the ideas that are needed to be a
successful entrepreneur (Osterwalder, Pigneur, Oliveira & Ferreira, 2011).
The value of creativity and innovation in entrepreneurship:
This book taught me that no entrepreneurship could be successful without the help of
modernisation in it. The writer of the book said that innovation leads to good entrepreneurship

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and innovation could only be possible with the help of creativity, as invention of innovative ideas
will only be fulfilled with the help of creativity (Carayannis & Dubina, 2016). Without
expanding my thoughts, I will not be able to proceed towards a better future in my business.
Creativity is either adapting something new or adapting the same thing in a new way. The result
of creativity remains unknown until the creation is implemented in the business.
Source: (Berkun, 2010)
Entrepreneurship depends on creativity, innovation and imagination which is also a part
of creativity as the image is describing. Creativity is referred to the way of seeing things in a way
no one else has and bring out the meaning of the same that no one else has. Business operates in
a challenging and risky world and for being a successful entrepreneur; every business needs to
use innovation and creativity as two sources, which will help the business (Drucker, 2014).
Innovation is all about replacing the new with something old or adding something new.
Innovation is the exploitation of new ideas or it is the exploitation of new ideas on the old
strategies in a new way. Creativity is important for innovation and innovation is important for
entrepreneurship (Kirzner, 2015). Thus, entrepreneurship also needs creativity. Innovation makes
a business or entrepreneurship successful and it lets the business focus on creativity and

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innovation for a better future. Entrepreneurs of a business are known as the dreamers of business
who proposes the idea of creating innovation in the business. The innovation lies on facts like
challenge in the business, focus on customer choice, creativity, proper culture and many other
points. Innovation can be change of methods, innovation in products and the innovation in
management (Okpara, 2007).

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References:
Berkun, S. (2010). The myths of innovation. " O'Reilly Media, Inc.".
Carayannis, E. G., & Dubina, I. N. (2016). Creativity, Innovation, and Entrepreneurship Across
Cultures. Springer.
Dawson, P., & Andriopoulos, C. (2014). Managing change, creativity and innovation. Sage.
Drucker, P. (2014). Innovation and entrepreneurship. Routledge.
Joshi, M. (2017). Creativity and Innovation.
Kirzner, I. M. (2015). Competition and entrepreneurship. University of Chicago press.
Legrenzi, P. (2013). Creativity and innovation. Retrieved on May, 6, 2013.
Okpara, F. O. (2007). The value of creativity and innovation in entrepreneurship. Journal of Asia
Entrepreneurship and Sustainability, 3(2), 1.
Osterwalder, A., Pigneur, Y., Oliveira, M. A. Y., & Ferreira, J. J. P. (2011). Business Model
Generation: A handbook for visionaries, game changers and challengers. African journal
of business management, 5(7), 22-30.
Roukes, N. (1988). Design synectics: Stimulating creativity in design. Davis Publications.
Tutt, K., & Duncan, C. (2013). Creativity and innovation. Independence, 38(1), 10.
Zhou, J. (2015). The Oxford handbook of creativity, innovation, and entrepreneurship. Oxford
University Press.