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Content Covered

˜ Creativity

˜ Types of entrepreneur
˜ Creativity is the ability of creation, that is the causing of a new thing
to exist.

˜ Creating a new product for which the entrepreneur has anticipated

future sales.

˜ Improving a product, that is adding or modifying something that makes

the product better according to certain criteria like consumers needs.

˜ Painting, writing, sculpting.

˜ Interpreting information in a different way

ey elements
˜ Process: Creativity is also a process (implying, among other things, that
it is more like a skill than an attitude, and that you can get better at it
with practice)

˜ Ôdeas: Creativity results in ideas that have potential value

˜ ^ecombining: The creative process is all about putting things together

in unexpected ways

˜ Creativity is Thinking up New things ʹ Innovation is Doing new things.

When you bring something new into existence you can say you created
it. You cannot say you innovated it. And again when you improve
something that already exists you cannot say you created it but you
can say you innovated it.

Creativity = Ônvention

Innovation = improvements = changes to make it effective

and efficient = making it practical = researching new ways to
produce and improve creativity = the act of producing the
same concept in a newer and improved form.
ypes of entrepreneur
˜ Social entrepreneur - A Social entrepreneur is motivated by a desire
to help, improve and transform social, environmental, educational
and economic conditions.

Ambition/Emotional Desire ʹ Reduce Poverty or Education

Deprivation, Stopping Child Trafficking etc.

èim ʹ to accomplish targets that are social and/or environmental as

well as financial.

˜ Serial entrepreneur - more likely to take risks and recover from

business failure - continuously comes up with new ideas and starts
new businesses.
ypes of entrepreneur cont͙
˜ @ifestyle entrepreneur - This individual creates a
business around their passions but their primary goal is not vast
profits but rather a rich and flexible lifestyle. The business allows
them to work extremely flexible hours, travel the world and afford
a life that you associate with millionaires.

˜ He combines hobby with a profession ʹ Zaakir Hussain, M. F.

Hussain are some the examples.

˜ A lifestyle entrepreneur may decide to become self-employed in

order to achieve greater personal freedom, more family time and
more time working on projects or business goals that inspire them