Creativity, innovation and entrepreneurship

Since the 1990s, creativity and innovation have become more prominent within the fields of business and management, since it is increasingly the case that new markets, or even market growth, may best be attained via creative and innovative solutions. Studies of entrepreneurs, entrepreneurship and growth have catalysed identification and promotion of innovative knowledge industries, rendering their economic importance increasingly significant. For the first time in history, more than half of the world's businesses are now small-scale, creative and innovative, reflecting recent economic transitions around the world. Thus, to appreciate the role of creativity and innovation, it is necessary to understand the nature of entrepreneurship and, specifically, the creativity required to identify and exploit opportunities.