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Topic 3 Developing Entrepreneurial Creativity And Innovation

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  • Very useful for a youth project am working on. Thanks!
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  • 1. TOPIC 3 Developing entrepreneurial creativity and innovation
    • In today’s business landscape, entrepreneurs are required to think of ways to produce new products, services or processes for new purposes to the customers.
  • 2. MIND MAP
    • What is creativity
    • Process of creativity
    • Barriers to creativity
    • How to generate creative ideas
    • Characteristics of creative individual
    • What is innovation
    • Types of innovation
    • Sources of innovation
    • Barriers to innovation
    • The importance of creativity and innovation for entrepreneurs
    • Strategies to encourage creativity and innovation
  • 3. 3.1 What is creativity?
    • “…involves the development of UNIQUE and NOVEL responses to problems and opportunities (Online Ticketing, E-Banking)
  • 4. 3.2 The process of creativity
    • Phase 1: Knowledge accumulation
    • Phase 2: Incubation
    • Phase 3: Ideas
    • Phase 4: Evaluation and Implementation
  • 5. 3.3 Barriers to creativity
    • Personal Beliefs
    • Fear of Criticism
    • Over-Management
    • Stress
  • 6. 3.4 How to generate creative ideas
    • Brainstorming
    • Forced analogy
    • Do it
    • Mind Mapping
    • Nominal Group
  • 7. 3.5 Characteristics of creative individuals
    • Humble and proud at the same time
    • Very passionate but can be objective
    • Brave to try new things
    • Open minded and willing to accept criticism
    • Playfulness and discipline, or responsibility and irresponsibility
    • High-self control
    • Goal-directed, deliberate and considerate in decision making
    • Willing to take calculated risk
  • 8. 3.6 What is innovation?
    • “… finding ways to deliver new or better goods or services.” (Kinicki and Williams, 2003)
  • 9. 3.7 Types of innovation
    • Invention
    • Extension
    • Duplication
    • Synthesis
  • 10. 3.8 Sources of innovation
    • Unexpected events
    • New-knowledge concept
    • Changes of demographics
    • Process needs
  • 11. 3.9 Barriers to innovation
    • Organization does not encourage innovation
    • Insufficient sources
    • Traditional management behavior
  • 12. 3.9 Barriers to innovation (cont)
    • Also can be derived from individual behavior
      • Fear of trying
      • Fear of making mistakes
      • Improper motivation
      • Fear of change
      • Fear of failure
      • Self-image block
  • 13. 3.10 Importance of creativity and innovation for entrepreneurs
    • To ensure an organizational survival
    • To explore new markets
    • To exploit natural resources
  • 14. 3.11 Strategies to encourage creativity and innovation
    • Recognize your own ability
    • Change your perception
    • Change the organizational culture
    • Dare to fail
  • 15. THE END