Week 3-Creativity and Innovation
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Transcript of Week 3-Creativity and Innovation
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The whole entrepreneurship process requirescreativity and innovation.
It encompasses aspects such as management,
leadership,
motivation,
communication,
product development,
customer service etc
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CREATIVITY: the concept of generating ideas,formulas or patterns as well as discoveringthe existence of opportunities and resources.
INNOVATION: the process that involves ideaselection and development throughharnessing creative energy so as to convert
ideas, patterns and formulas in to moreefficient products or processesCreativity is the foundation of innovation but a
business cannot survive on creativity alone!
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Discovering the existence of opportunities
e.g opportunity to create a TV reality show
Utilising the opportunities generated from
creativity by increasing efficiency or
effectiveness e.g sponsor, tv station,
budget
Idea generation Idea selection, development, coordinationand implementation
Originality Building on concepts
Exploration, adventure of non-existing or
undiscovered resources
Revolution, automation ,rationalization of
procedures , business process re-
engineering and paradigm shiftWay of thinking shaped by perception Implementing the thoughts
Bring forth, conceive ,generate patterns
,ideas
Conversion of ideas, patterns and
formulae in to new products
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1. Employee empowerment2. Decentralizing tasks . It helps in;
Specialization
Democracy hence employees participate in decision
making Increases accountability and responsibility
3. Minimizing bureaucracy
4. Risk management
insurance, covering risks associated with creativity,
compensation procedures
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5. Reward scheme Investing in R & D/ training
Ensuring access to information
Providing a conducive working environment
Providing assurance
job security Managing transition process
Providing incentives rewards, prizes
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moderators and team members
unrestrictive environment
encourages free speech
Moderator can be present or absent
Discussion- directed /non-directed
Focus on specific area
Facilitated by a team of experts with knowledge inthe specific area
No team member dominates / favour sides
No criticism of any member
Members can improve on quality of ideas generated
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3. Check list method A list of unlimited ideas are generated
Pick the relevant and most appropriate suggestions
4. Synetics A scientific process controlled by an expert.
Classifies problems and solutions in to 4 categories;
Personal- own ideas
Directrelate to the problem at hand
Symbolic- create identity Fantasyimaginative
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5. Free association Members are organized in sequence
The 1st member generates a word, phrase, picture or symbol
The 2nd adds meaning to it
The patterns continues until new ideas are generated from achain of members
e.g. water
Selling water
Selling rain water
Harvesting and selling rain water
Construct reservoirs and dams for rain water harvesting
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6. Problem inventory analysis Team of members from different sectors (stakeholders)
They are presented with a list of problems or undeveloped
concepts and asked to generate solutions to each problem
Give strengths and weaknesses of each solution The entrepreneur then selects the most suitable solution
7. Attribute listing Similar to problem inventory
The entrepreneur can review and analyze the strengths of ideasin varied perspectives
Can combine some solutions to form new concepts
Customize the solutions to suit a particular problem
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8. Gordon method Team members are assembled with no knowledge of
the subject of discusiion
All members start at a blank slate
An entrepreneur then floats the subject Members respond by giving their own ideas
The actual problem is revealed at last.
The method encourages diversified thinking henceversatile solutions
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9. Collective book method . A pocket size note book, laptop, smart phone used
to install ideas generated.
Problems are written down and the user can visit the
problems frequently creating possible solutions If a solution is arrived at its quickly recorded
At the end of the period, the notes are revised andsolutions arrived at
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Product innovationsDesign features
Ingredients
Patterns and formulae
These determine the strength of the product The composition of the product will influence
the acceptance of the product in the market.
Entrepreneurs should study the consumerbehavior &business environment factors
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Stages of processing technology used
Supply chain management
Bench marking Total quality management
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Strategies developed here should focus onconcepts such as market share, brand loyalty,product image, acceptance ,identity anduniquenessCompetitive advantage
Differentiation on what the firm wants to sell
Branding that strengths identity, association andloyalty.
Market fragmentationPromotional tools
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Entrepreneur decides to change totally thebusiness model or take a completely newdirection
Change of vision and mission.
Reasons for the aggressive and ambitiousinitiative; Stiff competition
Market saturation
New opportunities
Change of trends
Political instability
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type Description examples
Invention Totally new product, service or
process
Wright brothers-airplane
Alexander graham bell-
Telephone
Extension New use or different application of
an already existing product, serviceor process
Cinema halls for churches
Personal car for taxi
Duplication Creative replication of an existing
concept
Cereal banks
Parallel degree programmes
Lonely heart column
Synthesis Combination of existing concepts
and factors into a new formulation
or use
Christian disco bar
Petrol station with supermarket
Nyama choma bars