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Creativity in Management
Introduction
Creative entrepreneurs have played a sterling role in economic development. The Industrial Revolution in Britain was powered by innovative entrepreneurs like Thomas Newcomen (steam engine), James Hargreaves (spinning jenny), and James Watt (high pressure steam engine). America's economic development was spurred by Thomas Edison, Henry Ford, Thomas Watson and others. Innovative entrepreneurs like Akio Morita of Sony fame helped Japan recover from the Second World War and become an economic giant. In our country, pioneers like Jamsetjee Tata, Walchand Hirachand, G. D. Birla, Shantanu Kirloskar, Ranchhodlal Chhotalal and others laid the foundations of our industrial development.
Creativity has been accepted as a major human resource for development. We are firmly in the age of globalization. In a US study of 33 talents important for business in the era of globalization, creativity was ranked first (Bleedorn, 1986). Econometric studies of the growth of US and British economics led to the conclusion that technological and management innovations play a far greater role in the rise of productivity than capital per unit of labour (Kendrick, 1979). Thousands of entrepreneurs today are helping build a resurgent India, highlighted in books like Entrepreneurial Policies and Strategies: The Innovator's Choice (Manimala, 1999), Impact Making Entrepreneurs (Jain and Ansari, 1988), Stay Hungry, Stay Foolish (Bansal, 2008), etc. However, creativity in
Pradip Khandwalla
