As we contemplate on modifying our educational system to create a thriving entrepreneurial economy, it is of grave importance to understand what it takes to kindle the desired spirit in entrepreneurs. With the importance of creativity and innovation discussed prevalently in the business landscape, the question that comes to mind is if creativity the only trait an individual is expected to posses in order to be an exceptionally successful entrepreneur? It is important to have this question answered because the results of any efforts made in this direction will only be evident after a generation.
There is a difference between innovation and creativity but no matter how subtle the differences are, they do exist and vastly influence entrepreneurship as well. The following account helps one decipher what is more substantial for entrepreneurship between creativity and innovation. Also, it justifies out of the two, creativity and innovation, which one is a preferred quality to be incorporated into a country’s educational system.
Creativity is a process to dynamically bring about a change. Creativity is the transition from the known to the unknown. While creativity is an aspect essential to entrepreneurship, it is important to understand that creativity is necessary but is not a sufficient condition to bring about entrepreneurial success. Creative minds give birth to ideas but they are not always implemented and serve as a starting point for a venture. Similarly, an entrepreneur can be creative in nature but a creative person may not always be a successful entrepreneur.
Innovation, on the other hand, is the part and parcel of entrepreneurship. It is for this reason that entrepreneurs are often deemed as agents of innovation. Innovation is the execution of creative inspiration and it is the successful implementation of creative ideas. While creativity is defined as the production of novel ideas, innovation is the transformation of an existing idea aimed at securing improvements.
Innovation, unlike creativity, makes business successful because innovation suggests the conversion of ideas into plans that ultimately take the shape of a start-up. Entrepreneurs are by nature, the essence of innovation and creativity. These two qualities are not just inevitable for entrepreneurship; the scope of their potential is manifested in the way a start up is established.
An entrepreneur uses innovative ways to put the creative ideas to test. While an entrepreneur is not always creative, he can make use of creative ideas others come up with and establish an enterprise around it. The difference between the two is quite subtle but it cannot be denied that creativity, alone, cannot work miracles. If we fail to realize this minute difference, we will fail in our endeavor to create a thriving entrepreneurial economy.
It is vital that we come to terms with the fact that creativity and innovation have to be incorporated into a country’s educational system to nurture an entrepreneurial mindset among its people. The objective is to achieve a thorough understanding for the need of flexibility and fearlessness. There is a dire need for a system which establishes independence for children, allowing them to choose a line of profession they want to pursue. This way, there will only be a little chance for mistakes as the need for individuals to develop skills alternate to academic excellence will be eliminated.
It is a sad scenario that good grades in examination are often considered a testimony for bright future. Children who do not excel academically are perceived as individuals who stand no chances of success in their lives. This is no criteria for judging an individual’s capability as an entrepreneur. How do you measure creativity and qualities such as determination and leadership through good grades?
The answer is that these are areas that no examination system is capable of testing. People with a narrow skill set do not always have a bleak future because raw intelligence is not a very useful indicator of success. In order to develop and foster entrepreneurial abilities in a nation, it is vital that a country’s educational system be restructured. Children should be able to achieve greater exposure to creativity and the education system should be more flexible, leaving more space for diversity and flexibility to cultivate.
Regardless of the routes children embark on, should come to a singular destination, entrepreneurial success. When taken appropriately, all these steps will lead in the right direction. At the end of the day, whether or not our children become flourishing entrepreneurs, they will have the mindset to bring about success, which is not just a reward one gets for academic excellence.