ABDM4233 ENTREPRENEURSHIP   From Ideas to Social       Enterprise                  by             Stephen Ong     Principa...
Creativity and Innovation Creativity – the ability to develop new ideas and to discover new ways of looking at problems a...
Entrepreneurship   Entrepreneurship – the result of a    disciplined, systematic process of    applying creativity and in...
Failure: Part of the             Creative Process!   For every 3,000 new product ideas:       Four make it to the develo...
Can We Learn to Be Creative?             Yes! By overcoming paradigms and by suspending     conventional thinking long eno...
How Creative Are You?           Hundred           OChun       Hundred                       RChun       Hundred       H   ...
Right-Brained,          Creative Thinkers   Always ask: “Is there a better way?”   Challenge custom, routine, and    tra...
Right-Brained,          Creative Thinkers   Realize that there may be more than one    “right” answer.   Know that mista...
Right-Brained,           Creative Thinkers   Understand that failure is a natural part    of the creative process.   Rel...
Left-Brained or             Right-Brained?Entrepreneurship requires both left-andright-brained thinking.     Right-braine...
Barriers to Creativity   Searching for the one “right” answer   Focusing on “being logical”   Blindly following the rul...
Barriers to Creativity   Becoming overly specialized   Avoiding ambiguity   Fearing looking foolish   Fearing mistakes...
Questions to Spur the            Imagination   Is there a new way to do it?   Can you borrow or adapt it?   Can you giv...
Questions to Spur the            Imagination                    (continued)   Is there a substitute?   Can you rearrange...
Questions to Spur the            Imagination                    (continued)   What else could you make from this?   Are ...
Tips for Enhancing      Organizational Creativity   Include creativity as a core company    value   Embrace diversity  ...
Tips for Enhancing      Organizational Creativity                    (continued)   Encourage curiosity   Create a change...
Tips for Enhancing     Organizational Creativity   Talk and interact with customers   Look for uses for your company’s  ...
Tips for Enhancing         Individual Creativity   Allow yourself to be creative   Give your mind fresh input every day...
Tips for Enhancing        Individual Creativity   Keep a journal to record your thoughts    and ideas   Listen to other ...
Tips for Enhancing        Individual Creativity   Keep a toy box in your office   Do not throw away seeming “bad”    ide...
The Creative ProcessPreparation       Investigation    TransformationIncubation        Illumination    Verification Implem...
The Creative ProcessPreparation       Investigation    TransformationIncubation        Illumination    Verification Implem...
PreparationGet your mind ready for creative thinking.    Adopt the attitude of a lifelong student.    Read … a lot … and...
PreparationGet your mind ready for creative thinking.     Join professional or trade associations      and attend their m...
The Creative ProcessPreparation       Investigation    TransformationIncubation        Illumination    Verification Implem...
The Creative ProcessPreparation       Investigation    TransformationIncubation        Illumination    Verification Implem...
Transformation   Involves viewing both the similarities and the    differences among the information collected.   Two ty...
Transformation   How can you transform information    into purposeful ideas?       Grasp the “big picture” by looking fo...
The Creative ProcessPreparation       Investigation    TransformationIncubation        Illumination    Verification Implem...
Incubation Allow your subconscious to reflect on the information collected.     Walk away from the situation.     Take ...
The Creative ProcessPreparation       Investigation    TransformationIncubation        Illumination    Verification Implem...
The Creative ProcessPreparation       Investigation    TransformationIncubation        Illumination    Verification Implem...
Verification Validate the idea as accurate and useful.   Is it really a better solution?   Will it work?   Is there a ...
The Creative ProcessPreparation       Investigation    TransformationIncubation        Illumination    Verification Implem...
Techniques for Improving   the Creative ProcessBrainstorming: The goal is to create a large quantity of novel and imaginat...
Brainstorming Guidelines   Keep the group small – “Two pizza rule.”   Make the group as diverse as possible.   Emphasiz...
Brainstorming Guidelines   Use a seating pattern that encourages    interaction.   Throw logic out the window.   Encour...
Techniques for Improving the     Creative Process   Brainstorming       The goal is to create a large quantity of       ...
Techniques for Improving the     Creative Process   Force Field Analysis     A useful technique for evaluating the      ...
FIGURE 2.2 Sample Force Field Analysis                                         2 - 41
Techniques for Improving the     Creative Process   TRIZ     A systematic approach designed to solve      any technical ...
2 - 43
Techniques for Improving the     Creative Process   TRIZ     A systematic approach designed to solve      any technical ...
Conclusion   The creative process is a tenant of the    entrepreneurial experience.   Success, and even survival itself,...
How Creative Are You?                         ANSWERS Fortune 500        Scattered       Triumph of the   Grace Period    ...
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Abdm4223 lecture week 2 part 1 110512

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From IDEAS to Enterprise

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  • Abdm4223 lecture week 2 part 1 110512

    1. 1. ABDM4233 ENTREPRENEURSHIP From Ideas to Social Enterprise by Stephen Ong Principal Lecturer (Specialist)Visiting Professor, Shenzhen University
    2. 2. Creativity and Innovation Creativity – the ability to develop new ideas and to discover new ways of looking at problems and opportunities; thinking new things Innovation – the ability to apply creative solutions to problems or opportunities to enhance or to enrich people’s lives; doing new things. 2-2
    3. 3. Entrepreneurship Entrepreneurship – the result of a disciplined, systematic process of applying creativity and innovation to the needs and opportunities in the marketplace. Entrepreneurs connect their creative ideas with the purposeful action and structure of a business. 2-3
    4. 4. Failure: Part of the Creative Process! For every 3,000 new product ideas:  Four make it to the development stage.  Two are actually launched.  One becomes a success in the market. On average, new products account for 40% of companies’ sales!! Creativity is an important source of building a competitive advantage. 2-4
    5. 5. Can We Learn to Be Creative? Yes! By overcoming paradigms and by suspending conventional thinking long enough to consider new and different alternatives! 2-5
    6. 6. How Creative Are You? Hundred OChun Hundred RChun Hundred H E Umph Umph Umph Grace.Chun Hundred S W Of the SpiritChun Hundred S Stand S Media Scholar I Intensity2 1111 STO CK THEBLUEFACE S H E E T Objection W E B Roll Roll Tomb of 210,N Ruled Roy Roy 2-6
    7. 7. Right-Brained, Creative Thinkers Always ask: “Is there a better way?” Challenge custom, routine, and tradition. Are reflective. Are prolific thinkers. Play mental games. 2-7
    8. 8. Right-Brained, Creative Thinkers Realize that there may be more than one “right” answer. Know that mistakes are pit stops on the way to success. Recognize that problems are springboards for new ideas. 2-8
    9. 9. Right-Brained, Creative Thinkers Understand that failure is a natural part of the creative process. Relate seemingly unrelated ideas to a problem. Have “helicopter skills.” 2-9
    10. 10. Left-Brained or Right-Brained?Entrepreneurship requires both left-andright-brained thinking.  Right-brained thinking draws on divergent reasoning, the ability to create a multitude of original, diverse ideas.  Left-brained thinking counts on convergent reasoning, the ability to evaluate multiple ideas and to choose the best solution to a problem. 2 - 10
    11. 11. Barriers to Creativity Searching for the one “right” answer Focusing on “being logical” Blindly following the rules Constantly being practical Viewing play as frivolous 2 - 11
    12. 12. Barriers to Creativity Becoming overly specialized Avoiding ambiguity Fearing looking foolish Fearing mistakes and failure Believing that “I’m not creative” 2 - 12
    13. 13. Questions to Spur the Imagination Is there a new way to do it? Can you borrow or adapt it? Can you give it a new twist? Do you merely need more of the same? Do you need less of the same? 2 - 13
    14. 14. Questions to Spur the Imagination (continued) Is there a substitute? Can you rearrange the parts? What if you do just the opposite? Can you combine ideas? Can you put it to other uses? 2 - 14
    15. 15. Questions to Spur the Imagination (continued) What else could you make from this? Are there other markets for it? Can you reverse it? Can you eliminate it? Can you put it to another use? What idea seems impossible, but if executed, would revolutionize your business? 2 - 15
    16. 16. Tips for Enhancing Organizational Creativity Include creativity as a core company value Embrace diversity Expect creativity Expect and tolerate failure Create an organizational structure that nourishes creativity 2 - 16
    17. 17. Tips for Enhancing Organizational Creativity (continued) Encourage curiosity Create a change of scenery periodically View problems as opportunities Provide creativity training Provide support Develop a procedure for capturing ideas 2 - 17
    18. 18. Tips for Enhancing Organizational Creativity Talk and interact with customers Look for uses for your company’s products or services in other markets Reward creativity Model creative behavior 2 - 18
    19. 19. Tips for Enhancing Individual Creativity Allow yourself to be creative Give your mind fresh input every day Observe the products and services of other companies, especially those in completely different markets Recognize the creative power of mistakes Notice what is missing 2 - 19
    20. 20. Tips for Enhancing Individual Creativity Keep a journal to record your thoughts and ideas Listen to other people Listen to customers Talk to a child Do something ordinary in an unusual way 2 - 20
    21. 21. Tips for Enhancing Individual Creativity Keep a toy box in your office Do not throw away seeming “bad” ideas Read books on stimulating creativity or take a class on creativity Take some time off Be persistent 2 - 21
    22. 22. The Creative ProcessPreparation Investigation TransformationIncubation Illumination Verification Implementation 2 - 22
    23. 23. The Creative ProcessPreparation Investigation TransformationIncubation Illumination Verification Implementation 2 - 23
    24. 24. PreparationGet your mind ready for creative thinking.  Adopt the attitude of a lifelong student.  Read … a lot … and not just in your field of expertise.  Clip articles of interest to you and save them.  Take time to discuss your ideas with other people. 2 - 24
    25. 25. PreparationGet your mind ready for creative thinking.  Join professional or trade associations and attend their meetings.  Study other countries and their cultures.  Travel to new places.  Develop your listening skills.  Eliminate creative distractions. 2 - 25
    26. 26. The Creative ProcessPreparation Investigation TransformationIncubation Illumination Verification Implementation 2 - 26
    27. 27. The Creative ProcessPreparation Investigation TransformationIncubation Illumination Verification Implementation 2 - 27
    28. 28. Transformation Involves viewing both the similarities and the differences among the information collected. Two types of thinking are required:  Convergent – the ability to see the similarities and the connections among various and often diverse data and events.  Divergent – the ability to see the differences among various data and events. 2 - 28
    29. 29. Transformation How can you transform information into purposeful ideas?  Grasp the “big picture” by looking for patterns that emerge.  Rearrange the elements of the situation.  Use synectics, taking two seeming nonsensical ideas and combining them.  Remember that several approaches can be successful. If one fails, jump to another. 2 - 29
    30. 30. The Creative ProcessPreparation Investigation TransformationIncubation Illumination Verification Implementation 2 - 30
    31. 31. Incubation Allow your subconscious to reflect on the information collected.  Walk away from the situation.  Take the time to daydream.  Relax – and play – regularly.  Dream about the problem or opportunity.  Work on the problem in a different environment. 2 - 31
    32. 32. The Creative ProcessPreparation Investigation TransformationIncubation Illumination Verification Implementation 2 - 32
    33. 33. The Creative ProcessPreparation Investigation TransformationIncubation Illumination Verification Implementation 2 - 33
    34. 34. Verification Validate the idea as accurate and useful.  Is it really a better solution?  Will it work?  Is there a need for it?  If so, what is the best application of this idea in the marketplace?  Does this product or service fit into our core competencies?  How much will it cost to produce or to provide?  Can we sell it at a reasonable price that will produce a profit? 2 - 34
    35. 35. The Creative ProcessPreparation Investigation TransformationIncubation Illumination Verification Implementation 2 - 35
    36. 36. Techniques for Improving the Creative ProcessBrainstorming: The goal is to create a large quantity of novel and imaginative ideas. 2 - 36
    37. 37. Brainstorming Guidelines Keep the group small – “Two pizza rule.” Make the group as diverse as possible. Emphasize that company rank is irrelevant. Have a well-defined problem, but don’t reveal it ahead of time. Limit the session to 40 to 60 minutes. Take a field trip. Appoint a recorder. 2 - 37
    38. 38. Brainstorming Guidelines Use a seating pattern that encourages interaction. Throw logic out the window. Encourage all ideas from the team. Shoot for quantity of ideas over quality of ideas. Forbid criticism. Encourage idea “hitch-hiking.” Dare to imagine the unreasonable. 2 - 38
    39. 39. Techniques for Improving the Creative Process Brainstorming  The goal is to create a large quantity of novel and imaginative ideas. Mind-mapping  A graphical technique that encourages thinking on both sides of the brain, visually displays relationships among ideas, and improves the ability to see a problem from many sides. 2 - 39
    40. 40. Techniques for Improving the Creative Process Force Field Analysis  A useful technique for evaluating the forces that support and oppose a proposed change.  Three columns:  Center: Problem to be addressed  Left: Driving forces  Right: Restraining forces  Score each force (-1 to +4) and add them. 2 - 40
    41. 41. FIGURE 2.2 Sample Force Field Analysis 2 - 41
    42. 42. Techniques for Improving the Creative Process TRIZ  A systematic approach designed to solve any technical problem.  Relies on 40 principles and left-brained thinking to solve problems. 2 - 42
    43. 43. 2 - 43
    44. 44. Techniques for Improving the Creative Process TRIZ  A systematic approach designed to solve any technical problem.  Relies on 40 principles and left-brained thinking to solve problems. Rapid Prototyping  Transforming an idea into an actual model that will point out flaws and lead to design improvements. 2 - 44
    45. 45. Conclusion The creative process is a tenant of the entrepreneurial experience. Success, and even survival itself, requires entrepreneurs to tap their creativity. The seven steps of the creative process transform an idea into a business reality. Creativity results in value, and value provides a competitive advantage. Entrepreneurs protect their creative ideas with patents, trademarks, servicemarks, and copyrights to sustain a competitive edge. 2 - 45
    46. 46. How Creative Are You? ANSWERS Fortune 500 Scattered Triumph of the Grace Period Showers SpiritRhodes Scholar I Understand Spring Break Media Bias Two for One Blue in the Face High Intensity Spreadsheet Stock Split Objection Web Links Rolls Royce Tomb of Overruled Tutankhamen 2 - 46
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