||Creative Reasoning and Innovativeness as the Key of a Successful Entrepreneurship
||BH Economic Forum
||Economy, Business and Management
|No. of Pages:
|3.5 Euro (€)
||In current turbulent times, creativity is an extremely important, if not essential characteristic of a successful entrepreneur. It represents motivation and ability to identify, individually or within an organization, an opportunity and exploit it by creating a new value. Creativity is the ability of logical thinking and reasoning, which must be inherent to an entrepreneur as a creator of new entrepreneurial ventures. They should strive to develop a creative organization. In such organizations, managers trust their people and do not control them strictly, communication between members of the organization is unrestricted, interaction and openness of the organization with the environment is present, there is obviously a great variety of personality involved, etc. Models of innovation and creativity are great tools that are imposed as a foundation of sustainable existence, as well as the key to successful business operation of micro, small and medium enterprises.
In accordance with a global index of innovation, it is clearly recognizable that the developed countries, but also some neighbouring countries of Bosnia and Herzegovina, are more competitive, given that these countries systematically create an environment that stimulates innovation and creativity. The rate of growth and progress in our country is very low, and it urges for a systematic redefinition of development policies in order to reach the level of the European Union, where entrepreneurship is predominantly developmental, and not social.
Conducting comparative analysis of B&H with other countries, using data obtained from statistical models based on global index of innovation, in the form of concluding remarks, the authors will provide key recommendations and guidelines for improving the economic policies, which in turn will enhance creative thinking and innovation as a significant component of successful entrepreneurial activities of micro, small and medium-size enterprises, but also of the overall competitiveness of the national economy that intends to be the ultimate imperative of its future economic growth and development.
||creative thinking; innovation; entrepreneurship; global innovation index