Answer to Question #63636 in Other Economics for Alex
discuss commonalities between creativity, innovation and enterpreneurship ( 15 marks)
Creativity is turning new and imaginative ideas into reality. Innovation is the process of translating the idea or invention into a good or service that creates value or for which the customer will pay. Entrepreneurship is the process of designing, launching and running a new business.
As it is clear from definitions provided, all the three phenomena expect an introduction on new ideas, principles or concepts into reality.