The Symbiotic Role of Creativity and Innovation in Driving Entrepreneurial Development

Abstract

This study examines the symbiotic relationship between creativity, innovation, and entrepreneurship, exploring their collective impact on entrepreneurial success. Utilising a comprehensive review of secondary literature, this research identifies key factors fostering creative and innovative capabilities in entrepreneurs. Findings reveal that innovation and creativity drive organisational development, enabling businesses to adapt to evolving consumer preferences, develop competitive products, and enhance market positioning. However, substantial financial support, dedicated research time, adequate infrastructure, and regulatory reforms are crucial for effective innovation and creativity. This study contributes to existing knowledge, offering valuable insights for entrepreneurs, policymakers, and educators seeking to cultivate innovative ecosystems. The study contributes to knowledge by Clarifying the interplay between creativity, innovation, and entrepreneurship, Identifying critical factors hindering innovation and creativity, Informing entrepreneurship education and policy initiatives, Highlighting the significance of creativity and innovation for economic development and societal challenge resolution. This research underscores the imperative of creativity and innovation in driving entrepreneurial success, economic growth, and sustainable development, providing a foundation for future studies on entrepreneurial innovation and creativity.