I need some assistance with these assignment. creativity in problem solving, decision making and opportunity finding Thank you in advance for the help! The following discussion establishes the crucial aspects of problem-solving and opportunity finding and the importance of decision making as embedded in entrepreneurial and innovative theories.
Entrepreneurial theorists describe creativity as the backbone of all enterprises since the developers define unique products, which seem to be of vital importance in solving problems in the society (Wikander, Gustafsson, & Riis, 2012, p. 6). The business fraternity realizes entrepreneurship as of salient importance for economic competence. In the globalized society, entrepreneurship serves to the best of any business entity since, through the practice of creativity, entities are able to ascertain their competitive grounds of production (Bell-Masterson, 2013, p. 9). A business may engage in the production of different products in the market, but through creativity, it will be able to realize the most profitable venture that will enable it to rule its market segments despite the threat of external forces. The role of creativity in an enterprise is to initiate human volition in designing and developing a specific product that seems appropriate in solving a pre-existing problem in an identified segment (Henry & De Bruin, 2007, p. 42). Due to the threat of competition, entrepreneurship theories identify creativity as a sophisticated approach to yielding beneficial margins, thus. it is kept a secret within the organization.
The theoretical framework denotes creativity and the development of sound business ideas as an engaging process that identifies opportunities in the dynamic business environment. In emphasis, an individual business entity gains the ability to shelf the threat of discontinuity in the dynamic and ever-changing business environment since through its internal approaches on creativity, the business is able to launch new products and reinstate its market dominance (Vermeulen & .CurșEu, 2008, p. 7). .