People create value with creativity and entrepreneurial problem-solving methods in various settings, including startups, established organizations, and broader business environments where innovation and value creation are prioritized.

Key Places Where Value is Created

• Startups and New Ventures : Entrepreneurs identify problems and develop innovative solutions that create value by meeting unmet needs or improving existing products and services. This process often involves creative thinking, iterative prototyping, and leveraging technology to disrupt traditional markets

• Established Organizations (Intrapreneurship) : Creativity and entrepreneurial problem-solving also occur within established companies where employees (intrapreneurs) use innovative methods and tools such as design thinking, lean startup, and effectuation to develop new products, services, or processes that add value

• Educational Institutions and Business Schools : For example, institutions like Kühne Logistics University encourage students to develop creative thinking and entrepreneurial skills to devise innovative products and processes that break new ground, fostering value creation through education and training

Methods and Approaches Supporting Value Creation

• Effectuation : Entrepreneurs start with available resources and take action based on what they have, embracing uncertainty and partnerships to create value

• Design Thinking and Lean Startup : These methodologies emphasize customer-centric innovation, rapid prototyping, and iterative learning to solve problems creatively and efficiently

• Creative Problem-Solving Culture : Businesses that foster a culture where failure is seen as a learning opportunity encourage risk-taking and innovation, leading to value creation

Summary

Value is created where creativity and entrepreneurial problem-solving intersect, primarily in startups, established companies fostering innovation, and educational environments that nurture these skills. Entrepreneurs and intrapreneurs use diverse tools and methods to transform ideas into valuable products, services, or processes that solve real problems and generate economic and social impact