Creative Problem Solving Essay Example | Topics and Well Written Essays - 1500 words

Creative Problem Solving - Essay Example This paper illustrates that the identification of new and existing opportunities is what enables a business establishment and sustainment. To identify these opportunities, it really calls for creativity. According to Frigard, creativity is a kind of imagination that fosters originality. For creativity to be achieved, ingenuity has to be incorporated. Ingenuity is the incorporation of bodily-kinesthetic, logical-mathematical capacity and spatial capacity in the creative process. The ingenuity model for creative problem solving is what is used to incorporate ingenuity in the process of creativity. This technique is identified as the most appropriate problem-solving technique when there is a need to achieve new solutions to business problems. New opportunities identified in entrepreneurship enable a business to increase its productivity. They also enable the business to have a competitive advantage over other businesses in the industry. However, the identification and exploitation of th ese opportunities cannot happen without innovation. Therefore, entrepreneurship is directly related to innovation. Moreover, economic development results in the emergence of new opportunities that require both identification and exploitation. The identification and exploitation are done by entrepreneurship and thus entrepreneurship and economic development are related. Generation and implementation of new ideas and solutions require creative problem-solving. The ingenuity model for problem-solving enables an entrepreneur to achieve solutions and ideas that are different from those of others. This is what makes a particular firm different from the rest of the industry thus making it more competitive. Therefore, we can say that creative problem solving is a key aspect of entrepreneurship.  Ã‚  

How Discovery of Oil Has Affected State Building of Saudi Arabia Essay

How Discovery of Oil Has Affected State Building of Saudi Arabia - Essay Example The post-World War II period of growing demand for cheap and reliable suppliers of oil for rebuilding Europe was a great boost to the unity of the Saudi Arabian regions, and to the developing oil industry in the state. The attractive revenues that were realized during the reign of Abd al Aziz Al ibn Abd (1932-1953), strengthened his position and gave him the power to exert a higher political and economic influence over his territories (Country Studies par 4). The Saudi state became the pervasive economic change agent, replacing the initially differentiated economy with one that relied entirely upon the state's expenditure. In the 1970s and early 1980s, the rapid increase in oil prices enabled the Saudi state to meet its long-term financial obligations (Country Studies par 9). The huge oil revenues, in addition to delays in expenditures and the Saudi economy's restricted absorptive capacity, brought about large financial surpluses in the economy. Majority of these surpluses were inves ted in reputable international financial institutions and securities. The state is one of the leaders in the oil market in the 1990s, found it hard to diversify its economy (Country Studies par 6). This government has however, raised the average living standards of Saudi citizens’ to among the best globally, and established excellent infrastructural facilities and social services for its people. Being the major source of revenue, the oil industry has been an area of keen interest to the government.