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Peter Diamandis, Founder of the X Prize Foundation, uses the grand challenge approach to address global problems in areas like genomics and fuel efficiency. Unit 4 Assignment Delivery: Entrepreneurial Plan. Rajasthan Investor Conclave brings startups and investors on the same page, From B2C mobility to last-mile delivery service, how Zypp Electric found its niche, [Funding alert] Mobile POS startup QueueBuster raises Rs 63.3 Cr in Series A, Navi Technologies launches co-lending platform Navi Lending Cloud (NLC), India's goods, services exports may cross $750B this fiscal: Goyal, Electronics, innovation undergoing change, like-minded nations should work together to shape future of tech: MoS IT, VFS Capital plans to raise Rs 1,500 Cr in FY24 to support growth plans, We consider infra development as driving force of economy: PM Modi. But whats creativity, and how can entrepreneurs use it? Scott Summit, Founder of Bespoke, framed prosthetics as not just unsightly artificial limbs but custom-made fashion accessories. A blend of creativity and technology in the activities of entrepreneurship to commercialize the idea related to products . The idea here is what I said at the beginning: "entrepreneurial problem-solving is both art and science". In todays business world, its more important than ever to be creative. The mental blocks in the way of departure include the following: Understanding these mental blocks to departure is a first step in figuring out how to cope with them. People should be able to walk around a lot, and encouraged to do so. When were able to tap into our creativity, a whole world of possibilities opens up. Expressive creativity is necessary to communicate your vision and connect with your customers. Creative thinking is a function of three components. (2015). Seattle, WA: Vector Books. Done well, brainstorming can be useful if it draws on principles like generate lots of ideas, encourage unusual ideas, defer judgment in the exploration phase, and combine ideas. Mir Imran, Founder of InCube Labs, combines insights across professional disciplines and personal experiences. Similar to previous activities, this is all done with the intent to develop your own understanding of the characteristics needed for success in entrepreneurship.