Does entrepreneurship relies heavily on creativity and innovation? Why? Why not?
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Entrepreneurship relies heavily on creativity and innovation.
Explanation:
- Entrepreneurship is the process where a new business idea is generated to provide a solution to the existing problem.
- If the solution is not creative and innovative, the business will not be able to thrive and grow because at least one firm is there to solve the problem.
- In addition to the resources and capital, creativity and innovation are also very important to keep the business profitable in the long run.
- As the face of difficulty and growth changes, the requirements of a business also change. If the entrepreneur is not innovative or creative enough, he would not be able to provide something new to the customer. Therefore the customers will move to some other brand and the business will be in heavy losses.
- To prevent all these, creativity is very important in any entrepreneurial project.
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