Creativity and Its Role in Entrepreneurship, Innovation and Economic Development

Introduction

The concept of entrepreneurship, innovation and economic development is closely related to our life. A look at your surroundings and you shall find the product of entrepreneurs, packaged in innovative ideas, which might draw reflection on how the economy of a nation is doing today.

For instance, standing in front of my eyes is a heat-resisting vacuum flask, with branded Thermos. The Thermos’ vacuum flask was invented by a Scottish named Sir James Dewar in 1892. The fact that a vacuum flask, conceptually designed by a Scottish, being bought and used on the other side of the world, would undoubtedly require the abilities of one of more entrepreneurs to make it possible. Moreover, the vacuum flask with the ability to insulate heat using vacuum spaces is indeed a ground breaking innovation during the 1892. Taking a step backward, being able to afford a branded bottle does show the purchasing ability of the people in my nation, thus the reflection of my country’s economic development to a certain extend. At the very least, such purchasing ability had shown that the economy of my country would be very likely to be more developed than a nation who would even able to afford a plastic water, or in scarce of water supply.

The roles of creativity and problem solving are indeed crucial in manufacturing a ground breaking product. Moreover, the manufacturing of a vacuum flask undoubtedly requires problem solving, especially in how to make a conceptualised idea possible in real world.

The story behind the one little vacuum flask in front of me is indeed huge. It is indeed sad that most of the time such ingenious creation is taken for granted by the world. This essay would then define and discuss about the relationship between entrepreneurship, innovations and economic developments in details, as well as the roles of creativity and problem solving in these relationship, with the aim of increasing the world’s appreciation to every little creation in front of our...