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Creative entrepreneurship is the practice of setting up a business – or becoming self-employed - in one of the creative industries.The focus of the creative entrepreneur differs from that of the typical business entrepreneur or, indeed, the social entrepreneur in that they are concerned first and foremost with the creation and exploitation of creative or intellectual capital.
Entrepreneurship employs what Schumpeter called the "gale of creative destruction" [39] to replace in whole or in part inferior offerings across markets and industries, simultaneously creating new products and new business models, [citation needed] thus creative destruction is largely [quantify] responsible for long-term economic growth.
The creative industries have been seen to become increasingly important to economic well-being, proponents suggesting that "human creativity is the ultimate economic resource", [7] and that "the industries of the twenty-first century will depend increasingly on the generation of knowledge through creativity and innovation". [8]
A creative economy is based on people's use of their creative imagination to increase an idea's value.John Howkins developed the concept in 2001 to describe economic systems where value is based on novel imaginative qualities rather than the traditional resources of land, labour and capital.: [1] Compared to creative industries, which are limited to specific sectors, the term is used to ...
Most would point to a sound business plan as priority number one, while others may say attaining adequate funds or investors is the first item on their entrepreneurial checklist. Surprisingly, a ...
Dees argues that social entrepreneurship is the result and the creation of an especially creative and innovative leader. [ 10 ] Social entrepreneurs can include a range of career types and professional backgrounds, ranging from social work and community development to entrepreneurship and environmental science .
But while entrepreneurs use their business for monetary gain, "innerpreneurs" use their business to find personal fulfillment (creatively, spiritually, emotionally) and create social change. In 2008, there was much discussion in the Western media on the 'creative economy' and the importance of the 'creative class'.
Intrapreneurship is the act of behaving like an entrepreneur while working within a large organization. Intrapreneurship is known as the practice of a corporate management style that integrates risk-taking and innovation approaches, as well as the reward and motivational techniques, that are more traditionally thought of as being the province of entrepreneurship.