Creativity: Necessity for Entrepreneurial Success
NIOS · Class 10 · Entrepreneurship
Quick revision notes for Creativity: Necessity for Entrepreneurial Success — NIOS Class 10 Entrepreneurship. Key concepts, formulas, and definitions for last-minute revision.
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Key Topics to Revise
1. Meaning and Importance of Creativity
- Creativity means to think differently with an input of originality.
- Creativity leads to the production of novel and useful ideas within any field.
- Creativity is the capacity to produce ideas that are both new and useful through divergent thinking.
2. Definitions, Characteristics, and Ingredients of Creativity
- Joseph Schumpeter introduced the economic theory of creative destruction, describing how old ways of doing things are endogenously destroyed and replaced by the new.
- Drevdahl defined creativity as the capacity to produce compositions, products or ideas which are essentially new or novel and previously unknown to the producer.
- Characteristics of creativity include imaginative, purposeful, original, valuable, and ability.
3. Techniques of Enhancing Creativity
- Creativity techniques help in idea generation and in converting ideas into reality.
- Brainstorming means a team of members generates a large amount of alternative fruitful ideas on a specific problem without any criticism and then evaluates each idea with pros and cons.
- Brainstorming was developed by Alex F. Osborn in 1957.
4. Hindrances to Creativity and Measures to Overcome Them
- Hindrances are obstacles that block creativity.
- Environmental hindrances include reliance on experts, lack of committed resources, top-down decision making, too much cooperation, and too much competition.
- Committed resources are acquired in advance for multiple periods before demand is known and are also known as economic barriers such as capital, labour, and raw material.
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