Behavioral Economics and Entrepreneurship †MyAssignmenthelp.com

Question: Discuss about the Behavioral Economics and Entrepreneurship. Answer: Introduction: This piece projects the viewpoints of Csikszentmihalyi, one of the forerunners of happiness, in terms of creative thinking. According to Csikzentsmihalyi, when people are satisfied with the happenings of their life, ideas and thoughts have a free flow. This is the outcome of the conscious stage. In this stage, the humans are bubbling with energy for doing the tasks in an efficient and effective manner (Pursuit-of-happiness.org, 2017). This enthusiasm enables them to apply creative thinking for the completion of the task. This creativity, in turn, is assistance in terms of enhancing the perspectives towards approaching the tasks from different angles. Emerging successful in this direction generates confidence in the individuals. Consistency, dedication and commitment needed for achieving success in the application of creative thinking affirms Csikszentmihalyis statement, Happiness does not simply happen. The word simply reflects the efforts, which the individuals have to put in for ma king their lives meaningful (Pursuit-of-happiness.org, 2017). Google is one of the most trusted web search engines among the public domain. However, the efforts the team members have to put in for showering the required responses gets obliterated under the satisfaction of the people. Therefore in order to excavate the dynamics of team building, a research team made hard efforts. The outcome of this research was the article published in New York Times by Charles Duhigg. Project Aristotle in the year 2012 revealed the assemblage of researchers (Teamcoachinginternational.com, 2017). Here, the mission was to create the teams, which are in the quest of codes and patterns. Personality tests, genders and common interests seemed appropriate in terms of evaluating the capability of the candidates in terms of doing the allocated tasks in an efficient and effective manner. Emerging successful, in making practical and judicious use of the learnt and preconceived skills, leads to the creation of an effective team. The aspects of terms practical and judiciou s application The, masterpiece created by Eric Ries acts as an inspiration for the startup companies, regarding the achievement of expansion in business. Eric, in his propositions emphasizes on continuous innovation and its management for encountering radical transformation in the business activities. The concept of innovation contradicts the word lean in the name of the book. The adjective lean reflects the future plight of the startups if they do not bring innovation in the existing business services (Ries, 2014). Part one of this book is entitled vision. This aligns with the aspect of envisioning short term goals, which would energize the personnel for shaping the business in the right track. The aspect of management along with vision can be correlated with the aspect of evaluating the identified and specified goals. Evaluation from the initial stages generates a strong foundation for the startups. This strength, if properly utilized would bear fruits of success for the startups in terms of enc ounter with the developed brands in the competitive ambience (Ries, 2014). The article speculates the factors, which reveals the professional attitude of the entrepreneurs. At the initial stage, the attributes learnable and teachable is proposed. The question marks reflect the doubts of the author in terms of their effectiveness towards helping the entrepreneurs reach to their targeted goals. The relationship between cause and effect provides an insight to the entrepreneurs in terms of exposing appropriate approach towards the encountered problems. Adequate knowledge regarding the cause and effect of the problems makes the entrepreneurs tactful, which itself leads the entrepreneurs towards their goals. Within this, process the entrepreneurs learn a lot, which if they convey to the others would enrich their preconceived skills, knowledge and expertise (Prawfsblawg.blogs.com, 2017). Herein, the interrogative parameter of the attributes is nullified. Absence of goal in the reasoning for causal effect adds value to the understanding of the individuals regarding the events to which they are exposed. Clarity in this understanding is of utmost importance for the entrepreneurs in terms of taking the appropriate decisions. The book projects the appropriate behavior, which the entrepreneurs need to expose for making their profession noteworthy in the field of economics. The aspect of economic behavior and the difference between economic behavior and ordinary behavior gains an important position in this piece of art. The book is on entrepreneurship. However, provision of insight into the behavioral science seems appropriate in terms of creating professional minds (Kuratko, 2016). The propositions of the book state the presence of different focus for both the types of behavior. The challenges and issues, which they individuals need to face remains the same for the behavioral types. Countering this, the stagnancy of the challenges alarms the individuals to apply rational thinking for overcoming the challenges tactfully. Schumpeters conduct model brings the harsh reality regarding the placement of the individuals in different and varying economies. This variability prepares the individuals for revealing app ropriate behavior at the right time (Drucker, 2014). Effective adherence to the principles helps the individuals to achieve success in life. Along with this, it also systematizes the processes, through which the individuals come across. This is also applicable for ethics, in terms of making the individuals disciplined in their lives. Mostly ethics are required everywhere; however, the profession of entrepreneurship would connote the ethical principles, which are effective in excavating the professionalism of the entrepreneurs. Within this, the first principle is the equal treatment of the employees. This type of behavior would instill ethical values within the employees (Kuratko, 2016). This would enhance the stability in the relationship between the employees and the management. Countering this, one of the most important ethical principles is to treat the customers with due respect. For this, consistent evaluation is needed in terms of the specific tastes and preferences of the customers. Next comes the shareholders, who also need eth ical behavior in terms of supplying quality materials to the native company and organization. The word group in the name of the book by Keith Sawyer, generates the feeling of partnership working. Emerging successful in exposing the individual talent in spite of the working in a team makes the entrepreneur a genius. The subtitle of the book, the Creative Power of Collaboration is apt in terms of achieving this success (Credu.bookzip.co.kr, 2017). This collaboration enables the individuals to think the issues from different perspectives, which enhances their preconceived knowledge, skills and expertise. Moreover, this collaborative partnership generates cultural diversity between the employees, mitigating the chances of conflicts, discriminations and harassments. The piece of art also sheds light on the need for innovation in the competitive ambience. When different corporate minds get together, innovation is bound to occur. The aspect of genius can be related to a leader, where the entrepreneurs need to expose rationality and matured behavior (Credu.bookzip.co.kr, 2017). Judic ious application of the gathered and preconceived skills makes the genius stand out amidst the group. Helping makes a man generous, kind and courteous. The aspect of culture is related with the upbringing of an individual. If a child is taught to help the person in need, he will automatically go and help the person. This is a matter of instinct. In view of this connotation, the concept Ideo can be considered as the (ideo) logy of an individual to help others. The diagram proposed in the piece of art seems very complex (Amabile, Fisher Pillemer, 2014). Countering this, helping is rather a simple subject, which can be considered as the transfer of skills and knowledge from one entrepreneur to the other. Here, IDEO is the name of the organization and the segment looks into the culture regarding the approach of the employees towards helping the others. The interconnectedness between the team members generates collaboration, which reflects the flow of positive vibes in terms of the followed organizational culture (Amabile, Fisher Pillemer, 2014). Models are something, which bring the deviated businesses back to the right track. One of the advantages of the business models is that it safeguards the companies and organizations from the encountering instances of crisis. Typical examples in this direction are Porters Five Forces, Value chain analysis among others. Utilization of the business models determines whether success would come to the threshold of the businesses. The book provides the opportunity to the readers, especially the businessmen to generate their own business models. This action can be a means to test the confidence levels of the entrepreneurs in terms of solving the problems, which they are undergoing (DaSilva Trkman, 2014). Effective utilization of the key resources for achieving the efficiency in the business activities and maintaining the stability in the relationship with the key partners is considered as the main source of revenue generation. Countering this, adopting the means of survey and feedback help s the companies and organizations to add value to the ways and means in which they carry out the business activities. Herein lays the conjunctive significance of the nine blocks, which are crucial in terms of generating a business model (DaSilva Trkman, 2014). This is an article written by Ed Catmull regarding the collection of creativity by Pixar Fosters. Ed catmull is the co-founder of Pixar. He also possesses the ownership of the famous Disney Studio. The main highlights of the article are the significance of creation, the process, its transformations and its evolution since the release of the movie Toy Story. Collaborative approach towards solving the issues is one of the main characteristics of Pixar culture (Agileandart.com, 2017). Each and every employee is provided the chance to expose their talents, which makes Pixar a reputed organization. However, the creative leader and producer of the film possess the sole power to make use of the provided power and authority. This rule seems apt in terms of preserving the core values identified by Pixar. Since the release of the movie Toy Story, conceptions related to technology have undergone several transformations. Earlier, the power to apply sound and light effects rested only with the cr eative leaders and producers. However, in the modern era, the task of giving sound and light effects to the movies is collaborative, which results in the transfer of skills, expertise and knowledge from one entrepreneur to the others (Agileandart.com, 2017). References and bibliography Agileandart.com (2017), How Pixars Fosters Collective Creativity, Retrieved 30th August 2017 from https://www.agileandart.com/2011/04/19/how-pixar-fosters-collective-creativity/ Amabile, T., Fisher, C. M., Pillemer, J. (2014). IDEOs Culture of Helping.Harvard Business Review,92(1-2), 54-61. Bilton, C., Cummings, S. (2014).Handbook of management and creativity. Edward Elgar Publishing. Bujor, A., Avasilcai, S. (2016). The Creative Entrepreneur: A Framework of Analysis.Procedia-Social and Behavioral Sciences,221, 21-28. Credu.bookzip.co.kr (2017), Group genius: The Creative Power of Collaboration, Retrieved 30th August 2017 from https://credu.bookzip.co.kr/Resource/Englishbook/PDF/AE30219.pdf DaSilva, C. M., Trkman, P. (2014). Business model: what it is and what it is not.Long range planning,47(6), 379-389. Deresiewicz, W. (2015). The Death of the Artistand the Birth of the Creative Entrepreneur.The Atlantic,315(1), 92. Drucker, P. (2014).Innovation and entrepreneurship. Routledge. Grebel, T., Stutzer, M. (2016). Behavioral economics and entrepreneurship.Routledge Handbook of Behavioral Economics, 168. Kuratko, D. F. (2016).Entrepreneurship: Theory, process, and practice. Cengage Learning. McKeever, E., Jack, S., Anderson, A. (2015). Embedded entrepreneurship in the creative re-construction of place.Journal of Business Venturing,30(1), 50-65. McKelvey, M., Lassen, A. H. (2016). Varieties of Entrepreneurship. Prawfsblawg.blogs.com (2017), What makes an entrepreneur an entrepreneurial?, Retrieved 30th August 2017 from https://prawfsblawg.blogs.com/prawfsblawg/files/Sarasvathy-Entrepreneurial.pdf Pursuit-of-happiness.org (2017), History of happiness- Csikszentmihalyi, Retrieved 30th August 2017 from https://www.pursuit-of-happiness.org/history-of-happiness/mihaly-csikszentmihalyi/ Ries, E. (2014).Lean Startup: Fast, risk-free and successful start up business.Redline economy. Teamcoachinginternational.com (2017), How to create Googles perfect team, Retrieved 30th August 2017 from https://teamcoachinginternational.com/how-to-create-googles-perfect-team/