An Appetite for Creativity Chris Tighe

An Appetite for Creativity Chris Tighe

Case 11.1 (An Appetite for Creativity Chris Tighe) outlines the benefits of creativity. In this case, Roger McKechnie creates tortilla chips and turns these into an income-generating venture. The idea resulted from Roge’s desire to remain in northeast England, where his family and friends were. This meant turning down an opportunity to occupy the marketing manager position at Smiths Crisps. Finding another job was not a viable option. Self-employment was the only solution for Roger. The tortilla chips were discovered when Roger worked at Associated Biscuits. The snack was rejected by 90 percent of the tasting panel. Roger relied on the 10 percent who co-stitched home entertainers and bar patrons who lived in the south and purchased their goods at Waitrose. The intuitive decision to pursue the product turned out to be profitable. Rogers continued creating new products and the creativity theme, causing him to amass significant wealth. McKechnie concluded that creativity is underrated, yet its combination with quality causes products to stand out (Dawson & Andriopoulos, 2017).

Questions and Answers

Do you see any creativity on Roger McKechnie’s part? Where? How did it arise?

Roger McKechnie demonstrates significant creativity. First, the accidental discovery of tortilla chips and the majority’s outright rejection of the product in the first instance of creativity. Typically, such a scenario would cause an individual to ignore the tortilla chips completely. However, Roger sought to create this product for the minority, who accepted it as favorable. This daring move led to the creation of a fortune by selling the tortilla chips primarily to the demographics represented by the 10 percent that accepted it. The idea would have been picked by Associated Biscuits and sold to the approving panel. However, its rejection by the majority created an entrepreneurship opportunity for Roger. The second instance of creativity is the creation of Tanfield Food, which retails ready food that only requires chilling and warming. The ready meal has a one-year shelf life. Besides, the product enables individuals who need to create a meal fast. This creation demonstrates Roger’s understanding of the market and its unmet needs. The company’s growth is remarkable as it serves airlines and other clients while employing one hundred people (Dawson & Andriopoulos, 2017).

What kind of cognitive factors and personality traits has he exhibited so far?

The main cognitive factors that Roger demonstrates include optimism and overconfidence. These are cognitive biases, which would typically be shunned as unfavorable. However, they are critical for entrepreneurship because they facilitate decision-making and enable individuals to take risks (Zhao & Xie, 2020). Overconfidence is exhibited when Roger decides to start making and selling tortilla chips instead of taking up a job as a marketing manager. He overestimated the likelihood of selling the tortilla chips after their rejection by the majority took place. Optimism is featured in all his investments and ventures. These cognitive elements led to loss and gain in some of the ventures.

‘Put creativity at the heart of things.’ Evaluate this statement.

This statement prioritizes creativity in everything an individual does, more so entrepreneurs. This statement advises people to embrace creativity as a valuable skill or tool to improve or initiate meaningful projects. Including creativity can potentially change fundamental aspects into extraordinary ideas (Dawson & Andriopoulos, 2017). This could mean the difference between success and failure. Therefore, creativity is a critical aspect of daily life and business activities.

Critical aspects

Creativity

The case highlights creativity as an essential aspect of a business. Usually, few entrepreneurs and business scholars emphasize the importance of creativity. Roger’s journey highlights that entrepreneurs must be creative to offer products and services that set them apart and increase their chances of success. Combining the creative element with the quality of products and services ensures that the final offering attracts the target market. In an organizational setting, employees need support to ensure they are creating through innovation (Indeed, 2021). This leads to the creation of unique products that set an entity apart from the rest and meet the needs of its clients more effectively.

Persistence

Other than being creative, persistence is a critical trait for entrepreneurs. Most of the trials that individuals make fail. The ability to keep trying requires persistent hope that an idea will work out successfully. The lessons that one learns through failing set them up for future success. The entrepreneurial journey ensures a business owner is ready to make tough decisions. Failures are only an achievement if an entrepreneur persists until they succeed.

Trust

Trust is a critical element of business. Entrepreneurs find themselves in partnerships, which require trust. Rogers advises that one does business with people they trust and like. This eases the process because interactions are more accessible. Furthermore, one must trust their partner to make decisions that are good for the business and be selfless.

 Risk

Entrepreneurs pursue ideas because they are risk-takers. Their risk appetite determines the type of ideas they pursue. Those with a high appetite pursue elevated risk ideas, while those with a lower appetite pursue minimal risk ideas. Regardless, the ability to take risks is essential. Entrepreneurs’ ideas may work or fail. The ability to embrace these possibilities creates resilience and a learning attitude. With time, an individual can assess risk more accurately and objectively. This builds their confidence, leading to more significant investment in their ideas.

Assessments

The assessments were made by analyzing Roger’s entrepreneurial journey. The journey highlights a significant appetite for risk that led to a drastic shift from employment to self-employment. Identifying gaps and finding products that can fill these voids signals creativity. The entrepreneur’s persistence is remarkable because he tries different ventures. Some of these ventures are successful, while others take time to bring significant returns.

Interestingly, some fail and lead to loss of resources. The ability to constantly take risks despite the numerous failures signals the lessons entrepreneurs learn along the way. Roger reiterates the importance of creativity and quality products for successful entrepreneurship.

Outcomes/solutions

The leading solutions in the case study include confidence in one’s intuition. Roger creates the first venture based on his intuition. The 90 percent rejection did not stop Roger. Instead, learning the crowd that approved the tortilla chips strengthens him to follow the idea. This approach offered Roger a long-term solution to his dilemma (Dawson & Andriopoulos, 2017). However, this solution does not apply to all situations because different people have varied perceptions about entrepreneurship. Different people would have responded differently to the same situation. However, the entrepreneurs derive a potential solution to their current issues by exploring the opportunities.

Reflection

This case study is a depiction of the journey that an entrepreneur goes through. It captures the highs and the lows. It accurately depicts the frustrations, challenges, and confusion when individuals evaluate their options. Roger’s experience as a businessperson provides hope that one can succeed outside of formal employment. The case study also highlights the importance of being creative and different and capturing less popular opportunities. Finding a way to implement these ideas and attractively package them determines an entrepreneur’s success. A significant appetite for risk is crucial because it drives an individual’s actions. A lack of appetite for risk leads to complacency and fear, which results in stagnation. Entrepreneurs willing to exert time, effort, and money on a specific idea may reap the benefits or learn the lesson. These lessons are beneficial because they are applied in future activities. Failure to acquire these lessons results in a lack of skills and knowledge regarding a particular idea or aspect. Therefore, failures and successes are equally important for entrepreneurs because they build on each other.

The reading also highlights the need for trust. Trust is critical in business activities because they are performed with other people. New ventures may require partnerships with others. Roger advises that entrepreneurs should collaborate with people they trust and like. This promotes the likelihood of success due to less tension and concerns about one’s integrity.

Most importantly, the entrepreneur must learn the critical nuggets of business. These include balance sheets, margins, losses, costs of goods, and return on investment. Possessing this knowledge is essential despite the presence of a professional accountant in the business. Therefore, the entrepreneur must be all-rounded, ready to take risks and present viable solutions.

References

Dawson, P., & Andriopoulos, C. (2017). Managing Change, Creativity & Innovation. Sage.

Indeed. (2021). The Importance of Creativity in Business.

Zhao, Y., & Xie, B. (2020). Cognitive Bias, Entrepreneurial Emotion, and Entrepreneurship Intention. Front. Psychol. doi:https://doi.org/10.3389/fpsyg.2020.00625

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1. Carefully READ the entire CASE first, and review the chapter(s) about the case(s) again. Think critically about all aspects of the issue (s).
2. Write a brief Overview/Summary of the case in your own words describing the nature and background information about the case. (Minimum 1/2 -1 page)
3. In your opinion, what were some Critical Aspects in the case that were identified? What were some Critical Aspects that you perceived to be very vital? (Minimum 1 page)
4. How could you make those Assessments of selecting the critical aspects or components for the case author/writer and yourself? (Minimum 1 page)
5. Identify and list some of the Outcomes, Solutions, and Resolutions you extrapolated from the case. (Minimum 1 page)
6. Reflect on what you learned from the case about global leadership. (Minimum 1 page)
7. Make sure your paper format is outlined with the above: (1) Cover Page Sectional Headings; (2) Overview/Summary; (3) Questions and Answers; (4) Critical Aspects and Assessments; and (5) Reflection page.