Report: Entrepreneurship, Creativity, and Marketing Planning Analysis

This report provides a comprehensive overview of entrepreneurship, focusing on the critical roles of innovation, creativity, and marketing planning in the context of Small and Medium Enterprises (SMEs). It explores how globalization and technological advancements create opportunities for new businesses and the importance of adapting products and services to the market. The report delves into the significance of innovation and creativity in developing market share and profitability, emphasizing the interplay between new ideas and effective business operations. It discusses the impact of market analysis and marketing plans, as well as the importance of customer preferences and satisfaction. Furthermore, the report outlines the creative process, including preparation, incubation, illumination, and implementation, along with divergent and convergent principles for generating and refining ideas. Various techniques, such as 'Suppose,' 'Wander,' 'Associate,' 'Morph,' and 'Inquire' are discussed as part of the divergent principles, while 'Sort,' 'Order,' 'Adapt,' 'Refine,' and 'Select' are presented as part of the convergent principles. The conclusion highlights the importance of creativity and innovation for successful business operations and achieving high efficiency and profitability.

ENTREPRENEURSHIP,
CREATIVITY AND
MARKETING PLANNING

Table of Contents
INTRODUCTION...........................................................................................................................1
PART 2............................................................................................................................................1
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................1

INTRODUCTION
With the help of globalization, it is the greatest opportunity for the latest technology
towards new techniques of the business (Im, Montoya & Workman, (2013)). It assists for adopt
new product and service within the market. Further, innovation take place for dealing with
different people and serving products to them. In the present report includes understanding of
innovation to create entrepreneurship within the market.
PART 2
Importance of innovation and creativity in entrepreneurial SME terms
According to (Kell, Benbow & Steiger, (2013)), innovation can be determines as
technical, design, manufacturing and commercial activities which involves marketing of new
products. It can be stated that creating something new ion existing products and services
determines to develop market ad effective results. On the other hand, creativity is considers as
process which develop ideas and imagination to develop effective results and maintain effective
functions at workplace. Creativity and innovation possess wide gap to develop market and
profitability for ascertain results and generate high revenue (Kell, Benbow & Steiger, (2013).
Creating new ideas and things can be developed to maintain business results and developing
profitability. Further, creativity also take place for vast imagination of things with new ideas and
methods for development of innovation. It can be analysis for determining impact from new
products within the market. Creativity is not take place with money term but innovation create
more cost for developing results at workplace. To maintain innovation, creativity is required so
that the business can achieve their goals and target for new products and services. Hence, it
develops effective results within the market.
As per the view of (Govindarajan & Trimble, (2013)), in modern era globalization and
development programs assist to produce goods and services within domestic country and another
nation as well. Thus, international market gives opportunities to increase economy of country
with developing profitability within the enterprise. In respect to this, impact of market can be
assess easily with developing marketing plan (Govindarajan & Trimble, (2013). However,
(Barrett, Davidson & Vargo, (2015)), stated that within the time frame creativity take place for
developing effective results and manage profitability easily. Hence, innovation can be take place
for major effective results and outcomes within the environment. In respect to this, new features
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and productivity can be take place which bring ideas for development of operations within the
market. Innovation in existing products and services can be considers as the best practices which
can be used by firm (Barrett, Davidson & Vargo, (2015). In addition to this, it is also helpful to
modify market and add values to lead with creativity for enhance sales volume at workplace.
Creativity and innovation is running together so that business make plan for development of
effective and efficient ideas within innovation process (Barrett, Davidson & Vargo, (2015). It
brings new things and develop knowledge from business operations and market structure.
(Tidd & Bessant, (2014)) contrast that economy is made up with several rules and
regulation which need to be followed at workplace. In this aspect, new products are highly
impacted so that business cannot easily expand their operations in effective manner. With
coming up new ideas, firm can easily establish changes in existing products and services for
developing results (Tidd & Bessant, (2014)). Every business plays very important role for
developing effective results with generating research and gather information which are related
with customer preferences. It assists to develop positive results and maintain business results to
increasing sales volume of new product and services related with needs and requirements of
customer. It plays very important role which assist to satisfy customer requirements. However,
(Boons, Montalvo & Wagner, (2013)) stated that growing in company operations can serve
effective services and development programs to meet with customer requirements. It assists to
gain financial outcomes for managing services of company (Boons, Montalvo & Wagner,
(2013)). Entrepreneur are possesses very important role within the industry for developing goods
and services with new ideas and add values within the economy market. Hence, innovation place
greater importance within entrepreneurship to ensure changes within different manner. In order
to develop effective results, it determines long term goals for managing business outcomes and
effective results. It creates high demand for products and services for developing outcomes
within the business environment. It grows community benefits to manage business results for
overcome business issues.
As per the view of (Kozlenkova, Samaha & Palmatier, (2014), it has been stated that
innovation is possesses crucial part for developing market operations in effective manner. It
assists to sustain and attain competitive advantages at workplace which is related with creating
effectiveness at workplace. High market share and pricing of products can be evaluated to
determine effective results to maintain profitability at workplace (Kozlenkova, Samaha &
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Palmatier, (2014). In respect to this, SME can create different innovations at workplace which
are related with successful operations to judge impact on the business through marketing
environment. Further, to attain greater value of economy assess importance of economy market
which develops innovation within the business. (Dibb, Simões & Wensley, (2014)), asserted that
entrepreneurs are come up with new ideas and innovation which develops effective results to
operate functions within the business environment. In respect to this, organisation can easily
evaluate to enhance productivity with financial benefits which assess for developing ideas and
stimulated to training session to increasing employee performance (Dibb, Simões & Wensley,
(2014)). Hence, high market share can be attain regarding products and services. To get
something new, industry can attain new and greater values for developing ideas and profitability
which can be ascertain for judging successful career programs to needed people.
According to (Xiang, Magnini & Fesenmaier, (2015)), in the recent time, economy of
country can be develop profitability which ascertain to get effective results and outcomes for
manage firm operations. With the help of innovation, business has opportunities to develop their
industry and creating positive impact on economy of nation to analysis potential impact. Hence,
business can easily examine workflows to conducting regular interval programs which assist to
reduce price of products and services with implementing business plan in effective and efficient
manner(Xiang, Magnini & Fesenmaier, (2015)).
Creativity process
Creativity process consist such steps which defining to make effective results at
workplace. It includes following four steps:
Preparation: It is the first step which determine brainstorming exercise for every individual
within the enterprise (Ready, Mather & Santospago, (2016)). Business develop an idea for trying
to decide where to go from where. Further, it also sees what thing came up to done positive
results.
Incubation: Incubation consist necessary connection which are made from ideas which getting
the heat to turn of development. Further, in this step, business have idea to give steam and energy
for management of company decisions. Incubation is steaming to fully materialized things within
the enterprise (Kfir, (2016)).
Illumination: Illumination is a short time which develop for solve business puzzle. It determines
ideas which come together to influences creativity. These moments are managing experience
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through developing ideas. It means seeing the light and creative source for managing business
outcomes.
Implementation: It is the last step of creative process which determines for final product. Ideas
are fully develops for this step to maintain effectiveness and growing sustainability. Ideas are
actually determines for following different things which make profitability (Keman, (2016)).
Divergent principles
Divergent is a process which assist to think broadly and expanding mind for creativity.
Divergence principles consist for enhance idea generation for create positive results and
outcomes. Internal blocks create ideas for natural and fun. It is consists for social variation. The
fear of social punishment and discourtesy keep many from even admitting to themselves which
could be good at divergent thinking (Kin & Kareem, (2013)). Further, it also consists for
quantity first that creates constant flow of ideas that is no matter for taking subsequent
convergent activity. Divergence is stimulating new thinking through diversifying and exploring
new things at workplace.
SWAMI
There are various divergence techniques which are basically relates to five simple
principles. When members are understands these principles, they can easily add values to
stimulate new thinking (Ready, Mather & Santospago, (2016)). There are five basic principles
inherent in different tools which are as follows:
Suppose: Suppose means putting ourself in imaginary situations which can be switch towards
new ways of thinking. For example, SME create assumptions around various issues that assist to
manage business outcomes. In addition to this, people are set new ideas and perception to
overcome business problems. It will generate profitability and positive results (Lai, Luen & Ling,
(2014)).
Wander: Wandering through new territory create with an open mind vacuums in new
connections and linkages. For example, SME can easily wander through hardware and antique
stores, new magazines with random images and analogies from nature. Further, new ways are
created to developing ideas and creativity which manage business results (Ready, Mather &
Santospago, (2016)).
Associate: Associate consists with new linkages between objects, ideas, events and process, etc.
When the business link these all things together, which are normally connected with new
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relationship and possibilities. Within ideas and new ways, associate create path for achieve
objectives and goals (Xiang, Magnini & Fesenmaier, (2015)).
Morph: Morph consist with various aspects of different situations which make familiar strange
and the strange familiar.
Inquire: Inquire consist questions which create openings. A great questions can unravel a
mystery like a kitten batting a ball of twine (Lai, Luen & Ling, (2014)). Finding of these
questions can open mind and the secrets of universe which is a learned skill based on simple
principles and practices.
Convergent principles
There are various convergence techniques which divergence ones. It is also relates with
five principles which can be determines in term of Soars. They are as follows:
Sort: In order to make sense of things, there are various possibilities which need to be grouped in
meaningful categories. Categories can be relate with time, feasibility, market demand, resource
availability and different type of possibilities which bring order of the chaos (Edmond, (2014)).
Order: Possibilities with specific categories can be ranked against pre-established criteria which
create an order of preference.
Adapt: Once possibilities are likely in nature, it can be easily identified. In addition to this, it is
also expanded to create better ideas at workplace. Hence, developing operations of SME
business can easily generate effective results through ideas (Kin & Kareem, (2013)).
Refine: Refine create a term that support to proofed to find weak spots and possible failure for
managing business results. In this aspect, organisation can easily enhance their operations for
developing ideas and profitability at workplace. They can also remove negative results from the
business (Ready, Mather & Santospago, (2016)).
Select: Ideas are only perception that implement to owned effective results with take ownership
of critical piece of the process. In this context, innovation and creativity can be take place which
support to various positive outcomes (Reich, (2014)).
Convergence creates big pile of ideas that support to creativity activity. In this aspect,
difficult task and activities are easily manages which seeks to thin down ideas set to small
development. It includes judgement and selection that requires to selection, evaluation and
judgement from useful ideas. In addition to this, this process consist with different arguments
and debates about true potential of ideas. On the other hand, divergent and convergent not go
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together so that it keep them deliberately separate with good ideas (Bainbridge, (2016)). Hence,
all principles can be explains with middle and top level management. It is more important to
manage carefully each activity of divergence and convergence to make easy activities with
developing ideas.
CONCLUSION
From the above report, it can be articulated that in upcoming time, creativity and
innovation take very important part to successful operations of business. In SME context, it
manages business outcomes through concerning effective process which develops products and
services. It assists to get high efficiency and profitability for maintaining, analysing quality and
standards of business products and services. Hence, it assists to develop market and maintain
creativity at workplace which is related to creating profitability ad attain business objectives.
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REFERENCES
Books and Journals
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Sociocultural Convergence (pp. 141-163). Springer International Publishing.
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contributions and future directions. MIS quarterly. 39(1). 135-154.
Boons, F., Montalvo, C. & Wagner, M. (2013). Sustainable innovation, business models and
economic performance: an overview. Journal of Cleaner Production. 45. 1-8.
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insights from practitioners. European Journal of Marketing. 48(1/2). pp.380-404.
Edmond, S. M., (2014). The experiences of school principals who report job satisfaction: an
interpretative phenomenological analysis.
Govindarajan, V., & Trimble, C. (2013). Reverse innovation: Create far from home, win
everywhere. Harvard Business Press.
Im, S., Montoya, M. M., & Workman, J. P. (2013). Antecedents and consequences of creativity
in product innovation teams. Journal of Product Innovation Management. 30(1). 170-185.
Kell, H. J., Benbow, C. P., & Steiger, J. H. (2013). Creativity and technical innovation spatial
ability’s unique role. Psychological science. 24(9). 1831-1836.
Keman, H. ed., (2016). The politics of problem-solving in postwar democracies. Springer.
Kfir, I., (2016). NATO and Putin's Russia: Seeking to balance divergence and convergence.
Comparative Strategy. 35(5). pp.447-464.
Kin, T. M. & Kareem, O. A. (2013). Principals’ Change Leadership Competencies: A Study in
Malaysian High Performing Secondary School. Journal of Education and Practice. 4(27).
pp.101-116.
Kozlenkova, I. V., Samaha, S. A. & Palmatier, R. W., (2014). Resource-based theory in
marketing. Journal of the Academy of Marketing Science. 42(1). pp.1-21.
Lai, T. T., Luen, W. K. & Ling, L. W. (2014). School principal leadership styles and teacher
organizational commitment among performing schools. Journal of Global Business
Management. 10(2). p.67.

Ready, R. E., Mather, M. A. & Santospago, B. P., (2016). Apathy, alexithymia, and depressive
symptoms: Points of convergence and divergence. Psychiatry Research. 244. pp.306-311.
Reich, Z., 2014. Islands of Divergence in a Stream of Convergence: Comparing the news
practices of male and female journalists in Israel. Journalism Studies. 15(1). pp.64-81.
Tidd, J., & Bessant, J. (2014). Strategic innovation management. John Wiley & Sons.
Xiang, Z., Magnini, V. P. & Fesenmaier, D. R., (2015). Information technology and consumer
behavior in travel and tourism: Insights from travel planning using the internet. Journal of
Retailing and Consumer Services. 22. pp.244-249.
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