Submit Search
Upload
2016 DFE3613 Chapter 5 Entrepreneurial Creativity and Innovation
•
Download as PPT, PDF
•
2 likes
•
105 views
Laura Law
Follow
2016 DFE3613 Chapter 5 Entrepreneurial Creativity and Innovation
Read less
Read more
Education
Report
Share
Report
Share
1 of 38
Download now
Recommended
Innovation vs. Invention
Innovation vs. Invention
PLN9 Security Services Pvt. Ltd.
Innovation Process Management
Innovation Process Management
Dr. Arturo Perez
Innovation-Reverse innovation by Roy
Innovation-Reverse innovation by Roy
Divyanshu Roy
Invention & Innovation (Introduction)
Invention & Innovation (Introduction)
tutor2u
Understand Innovation and Innovation Management
Understand Innovation and Innovation Management
Gordon Graham
Topic 3 Developing Entrepreneurial Creativity And Innovation
Topic 3 Developing Entrepreneurial Creativity And Innovation
guest81462b
Innovation Management
Innovation Management
Dave Angelow
Innovation Management an Introduction
Innovation Management an Introduction
EliObilleAligam
Recommended
Innovation vs. Invention
Innovation vs. Invention
PLN9 Security Services Pvt. Ltd.
Innovation Process Management
Innovation Process Management
Dr. Arturo Perez
Innovation-Reverse innovation by Roy
Innovation-Reverse innovation by Roy
Divyanshu Roy
Invention & Innovation (Introduction)
Invention & Innovation (Introduction)
tutor2u
Understand Innovation and Innovation Management
Understand Innovation and Innovation Management
Gordon Graham
Topic 3 Developing Entrepreneurial Creativity And Innovation
Topic 3 Developing Entrepreneurial Creativity And Innovation
guest81462b
Innovation Management
Innovation Management
Dave Angelow
Innovation Management an Introduction
Innovation Management an Introduction
EliObilleAligam
Innovation management
Innovation management
Amirouche Sellam M.ing,MBA,PMP, MOP-P
creativity and innovation
creativity and innovation
iqra mobeen
Innovation management presentation1
Innovation management presentation1
shruthi nair
Successful Innovation Management
Successful Innovation Management
Support to Research & Technological Development & Innovation Initiatives and Strategies in Jordan
Understand Innovation in 5 Minutes
Understand Innovation in 5 Minutes
Gordon Graham
INNOVATION - PRINCIPLES OF INNOVATION .pptx
INNOVATION - PRINCIPLES OF INNOVATION .pptx
VISHALI SELVAM
Innovation
Innovation
CRM Institute
Innovation management
Innovation management
Abdullah Mubasher
A Presentation on Innovation
A Presentation on Innovation
Stefan Lindegaard
Innovation Frameworks
Innovation Frameworks
Masood Nasser
Chapter 2
Chapter 2
Rione Drevale
Schumpeter Creative Destruction
Schumpeter Creative Destruction
R. Sosa
Basics of innovation
Basics of innovation
Julie Anne Reda
Innovation and Commercialisation In Business
Innovation and Commercialisation In Business
OGUCHI MARTINS EGBUJOR
Introduction to Innovation
Introduction to Innovation
Shameem Ali
inovasyon
inovasyon
Ümran Çoker
Smart Lighting in Eindhoven - door U-Approach
Smart Lighting in Eindhoven - door U-Approach
Jimmy Rentmeester
Comufficio Magazine
Comufficio Magazine
Efrem Simonini
2015 HTM130 Topic8 Leadership and Management
2015 HTM130 Topic8 Leadership and Management
Laura Law
2015 DHK2553 Topic 10 kitchen safety and risk management (theory)
2015 DHK2553 Topic 10 kitchen safety and risk management (theory)
Laura Law
Dattatray Shinde_current CV
Dattatray Shinde_current CV
Dattatray Shinde
Christmas 2014
Christmas 2014
teba2015
More Related Content
What's hot
Innovation management
Innovation management
Amirouche Sellam M.ing,MBA,PMP, MOP-P
creativity and innovation
creativity and innovation
iqra mobeen
Innovation management presentation1
Innovation management presentation1
shruthi nair
Successful Innovation Management
Successful Innovation Management
Support to Research & Technological Development & Innovation Initiatives and Strategies in Jordan
Understand Innovation in 5 Minutes
Understand Innovation in 5 Minutes
Gordon Graham
INNOVATION - PRINCIPLES OF INNOVATION .pptx
INNOVATION - PRINCIPLES OF INNOVATION .pptx
VISHALI SELVAM
Innovation
Innovation
CRM Institute
Innovation management
Innovation management
Abdullah Mubasher
A Presentation on Innovation
A Presentation on Innovation
Stefan Lindegaard
Innovation Frameworks
Innovation Frameworks
Masood Nasser
Chapter 2
Chapter 2
Rione Drevale
Schumpeter Creative Destruction
Schumpeter Creative Destruction
R. Sosa
Basics of innovation
Basics of innovation
Julie Anne Reda
Innovation and Commercialisation In Business
Innovation and Commercialisation In Business
OGUCHI MARTINS EGBUJOR
Introduction to Innovation
Introduction to Innovation
Shameem Ali
inovasyon
inovasyon
Ümran Çoker
What's hot
(16)
Innovation management
Innovation management
creativity and innovation
creativity and innovation
Innovation management presentation1
Innovation management presentation1
Successful Innovation Management
Successful Innovation Management
Understand Innovation in 5 Minutes
Understand Innovation in 5 Minutes
INNOVATION - PRINCIPLES OF INNOVATION .pptx
INNOVATION - PRINCIPLES OF INNOVATION .pptx
Innovation
Innovation
Innovation management
Innovation management
A Presentation on Innovation
A Presentation on Innovation
Innovation Frameworks
Innovation Frameworks
Chapter 2
Chapter 2
Schumpeter Creative Destruction
Schumpeter Creative Destruction
Basics of innovation
Basics of innovation
Innovation and Commercialisation In Business
Innovation and Commercialisation In Business
Introduction to Innovation
Introduction to Innovation
inovasyon
inovasyon
Viewers also liked
Smart Lighting in Eindhoven - door U-Approach
Smart Lighting in Eindhoven - door U-Approach
Jimmy Rentmeester
Comufficio Magazine
Comufficio Magazine
Efrem Simonini
2015 HTM130 Topic8 Leadership and Management
2015 HTM130 Topic8 Leadership and Management
Laura Law
2015 DHK2553 Topic 10 kitchen safety and risk management (theory)
2015 DHK2553 Topic 10 kitchen safety and risk management (theory)
Laura Law
Dattatray Shinde_current CV
Dattatray Shinde_current CV
Dattatray Shinde
Christmas 2014
Christmas 2014
teba2015
Christmas 2013
Christmas 2013
teba2015
2016 DFE3613 Chapter 4 Entrepreneurship Development in Malaysia
2016 DFE3613 Chapter 4 Entrepreneurship Development in Malaysia
Laura Law
2016 DHT1113 Introduction to Hospitality and Tourism Industry
2016 DHT1113 Introduction to Hospitality and Tourism Industry
Laura Law
2015 DMC2523 Topic 9 cost control-profit relationship
2015 DMC2523 Topic 9 cost control-profit relationship
Laura Law
2015 DMC2523 Topic 5 menu and purchasing
2015 DMC2523 Topic 5 menu and purchasing
Laura Law
Plant genetic resources
Plant genetic resources
rahul Rahul2iari
Viewers also liked
(12)
Smart Lighting in Eindhoven - door U-Approach
Smart Lighting in Eindhoven - door U-Approach
Comufficio Magazine
Comufficio Magazine
2015 HTM130 Topic8 Leadership and Management
2015 HTM130 Topic8 Leadership and Management
2015 DHK2553 Topic 10 kitchen safety and risk management (theory)
2015 DHK2553 Topic 10 kitchen safety and risk management (theory)
Dattatray Shinde_current CV
Dattatray Shinde_current CV
Christmas 2014
Christmas 2014
Christmas 2013
Christmas 2013
2016 DFE3613 Chapter 4 Entrepreneurship Development in Malaysia
2016 DFE3613 Chapter 4 Entrepreneurship Development in Malaysia
2016 DHT1113 Introduction to Hospitality and Tourism Industry
2016 DHT1113 Introduction to Hospitality and Tourism Industry
2015 DMC2523 Topic 9 cost control-profit relationship
2015 DMC2523 Topic 9 cost control-profit relationship
2015 DMC2523 Topic 5 menu and purchasing
2015 DMC2523 Topic 5 menu and purchasing
Plant genetic resources
Plant genetic resources
Similar to 2016 DFE3613 Chapter 5 Entrepreneurial Creativity and Innovation
Innovation in a Summary by Mohammad Ali Jaafar
Innovation in a Summary by Mohammad Ali Jaafar
Mohammad Ali Jaafar
2016 DFE3613 Chapter 3 importance of entrepreneurship & factors affectin...
2016 DFE3613 Chapter 3 importance of entrepreneurship & factors affectin...
Laura Law
Chapter 3 Importance of Entrepreneurship Factors Affecting
Chapter 3 Importance of Entrepreneurship Factors Affecting
chong wan sin
2016 DFE3613 Chapter 2 types of entrepreneurship
2016 DFE3613 Chapter 2 types of entrepreneurship
Laura Law
Chapter 2 Types of Entrepreneurship-1
Chapter 2 Types of Entrepreneurship-1
chong wan sin
The Moderating Effects of Entrepreneurship Training Towards New Venture Creation
The Moderating Effects of Entrepreneurship Training Towards New Venture Creation
Universiti Sains Islam Malaysia
Chapter_1_Theory_of_Entrepreneurship.ppt
Chapter_1_Theory_of_Entrepreneurship.ppt
sitiamaliya2
2016 DFE3613 Chapter 6 Opportunity Identification
2016 DFE3613 Chapter 6 Opportunity Identification
Laura Law
Chapter-1.ppt
Chapter-1.ppt
dhonggipa
ENTREPreneurship MODULE 1.pptxtechnology and livelihood education
ENTREPreneurship MODULE 1.pptxtechnology and livelihood education
JefreyTalay
innovation.ppt
innovation.ppt
VenugopalNair22
Innovation
Innovation
Seema Memon
innovation.ppt
innovation.ppt
YanuarWijayanto1
iSEED PREP Program Brochure
iSEED PREP Program Brochure
Indian School of Entrepreneurship (iSEED)
Entrepreneurship Management Defined
Entrepreneurship Management Defined
Andrew Dorko
Enhancement of critical thinking skills of vocational and adult education stu...
Enhancement of critical thinking skills of vocational and adult education stu...
Alexander Decker
Entrepreneurship developments
Entrepreneurship developments
Nugurusaichandan
The Impact of Leadership on Creativity and Innovation
The Impact of Leadership on Creativity and Innovation
inventionjournals
Introduction to entrepreneurship course for undergraduates
Introduction to entrepreneurship course for undergraduates
Library, University of Bengkulu
Enterepreneurship course
Enterepreneurship course
Jhangir Shah
Similar to 2016 DFE3613 Chapter 5 Entrepreneurial Creativity and Innovation
(20)
Innovation in a Summary by Mohammad Ali Jaafar
Innovation in a Summary by Mohammad Ali Jaafar
2016 DFE3613 Chapter 3 importance of entrepreneurship & factors affectin...
2016 DFE3613 Chapter 3 importance of entrepreneurship & factors affectin...
Chapter 3 Importance of Entrepreneurship Factors Affecting
Chapter 3 Importance of Entrepreneurship Factors Affecting
2016 DFE3613 Chapter 2 types of entrepreneurship
2016 DFE3613 Chapter 2 types of entrepreneurship
Chapter 2 Types of Entrepreneurship-1
Chapter 2 Types of Entrepreneurship-1
The Moderating Effects of Entrepreneurship Training Towards New Venture Creation
The Moderating Effects of Entrepreneurship Training Towards New Venture Creation
Chapter_1_Theory_of_Entrepreneurship.ppt
Chapter_1_Theory_of_Entrepreneurship.ppt
2016 DFE3613 Chapter 6 Opportunity Identification
2016 DFE3613 Chapter 6 Opportunity Identification
Chapter-1.ppt
Chapter-1.ppt
ENTREPreneurship MODULE 1.pptxtechnology and livelihood education
ENTREPreneurship MODULE 1.pptxtechnology and livelihood education
innovation.ppt
innovation.ppt
Innovation
Innovation
innovation.ppt
innovation.ppt
iSEED PREP Program Brochure
iSEED PREP Program Brochure
Entrepreneurship Management Defined
Entrepreneurship Management Defined
Enhancement of critical thinking skills of vocational and adult education stu...
Enhancement of critical thinking skills of vocational and adult education stu...
Entrepreneurship developments
Entrepreneurship developments
The Impact of Leadership on Creativity and Innovation
The Impact of Leadership on Creativity and Innovation
Introduction to entrepreneurship course for undergraduates
Introduction to entrepreneurship course for undergraduates
Enterepreneurship course
Enterepreneurship course
Recently uploaded
History Class XII Ch. 3 Kinship, Caste and Class (1).pptx
History Class XII Ch. 3 Kinship, Caste and Class (1).pptx
socialsciencegdgrohi
Employee wellbeing at the workplace.pptx
Employee wellbeing at the workplace.pptx
NirmalaLoungPoorunde1
Paris 2024 Olympic Geographies - an activity
Paris 2024 Olympic Geographies - an activity
GeoBlogs
A Critique of the Proposed National Education Policy Reform
A Critique of the Proposed National Education Policy Reform
Chameera Dedduwage
How to Make a Pirate ship Primary Education.pptx
How to Make a Pirate ship Primary Education.pptx
manuelaromero2013
The Most Excellent Way | 1 Corinthians 13
The Most Excellent Way | 1 Corinthians 13
Steve Thomason
Class 11 Legal Studies Ch-1 Concept of State .pdf
Class 11 Legal Studies Ch-1 Concept of State .pdf
akmcokerachita
How to Configure Email Server in Odoo 17
How to Configure Email Server in Odoo 17
Celine George
Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17
Celine George
Call Girls in Dwarka Mor Delhi Contact Us 9654467111
Call Girls in Dwarka Mor Delhi Contact Us 9654467111
Sapana Sha
Blooming Together_ Growing a Community Garden Worksheet.docx
Blooming Together_ Growing a Community Garden Worksheet.docx
UnboundStockton
Biting mechanism of poisonous snakes.pdf
Biting mechanism of poisonous snakes.pdf
adityarao40181
18-04-UA_REPORT_MEDIALITERAСY_INDEX-DM_23-1-final-eng.pdf
18-04-UA_REPORT_MEDIALITERAСY_INDEX-DM_23-1-final-eng.pdf
ssuser54595a
BASLIQ CURRENT LOOKBOOK LOOKBOOK(1) (1).pdf
BASLIQ CURRENT LOOKBOOK LOOKBOOK(1) (1).pdf
SoniaTolstoy
Hybridoma Technology ( Production , Purification , and Application )
Hybridoma Technology ( Production , Purification , and Application )
Sakshi Ghasle
Enzyme, Pharmaceutical Aids, Miscellaneous Last Part of Chapter no 5th.pdf
Enzyme, Pharmaceutical Aids, Miscellaneous Last Part of Chapter no 5th.pdf
Sumit Tiwari
Science 7 - LAND and SEA BREEZE and its Characteristics
Science 7 - LAND and SEA BREEZE and its Characteristics
KarinaGenton
Staff of Color (SOC) Retention Efforts DDSD
Staff of Color (SOC) Retention Efforts DDSD
David Douglas School District
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
9953056974 Low Rate Call Girls In Saket, Delhi NCR
Model Call Girl in Tilak Nagar Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Tilak Nagar Delhi reach out to us at 🔝9953056974🔝
9953056974 Low Rate Call Girls In Saket, Delhi NCR
Recently uploaded
(20)
History Class XII Ch. 3 Kinship, Caste and Class (1).pptx
History Class XII Ch. 3 Kinship, Caste and Class (1).pptx
Employee wellbeing at the workplace.pptx
Employee wellbeing at the workplace.pptx
Paris 2024 Olympic Geographies - an activity
Paris 2024 Olympic Geographies - an activity
A Critique of the Proposed National Education Policy Reform
A Critique of the Proposed National Education Policy Reform
How to Make a Pirate ship Primary Education.pptx
How to Make a Pirate ship Primary Education.pptx
The Most Excellent Way | 1 Corinthians 13
The Most Excellent Way | 1 Corinthians 13
Class 11 Legal Studies Ch-1 Concept of State .pdf
Class 11 Legal Studies Ch-1 Concept of State .pdf
How to Configure Email Server in Odoo 17
How to Configure Email Server in Odoo 17
Computed Fields and api Depends in the Odoo 17
Computed Fields and api Depends in the Odoo 17
Call Girls in Dwarka Mor Delhi Contact Us 9654467111
Call Girls in Dwarka Mor Delhi Contact Us 9654467111
Blooming Together_ Growing a Community Garden Worksheet.docx
Blooming Together_ Growing a Community Garden Worksheet.docx
Biting mechanism of poisonous snakes.pdf
Biting mechanism of poisonous snakes.pdf
18-04-UA_REPORT_MEDIALITERAСY_INDEX-DM_23-1-final-eng.pdf
18-04-UA_REPORT_MEDIALITERAСY_INDEX-DM_23-1-final-eng.pdf
BASLIQ CURRENT LOOKBOOK LOOKBOOK(1) (1).pdf
BASLIQ CURRENT LOOKBOOK LOOKBOOK(1) (1).pdf
Hybridoma Technology ( Production , Purification , and Application )
Hybridoma Technology ( Production , Purification , and Application )
Enzyme, Pharmaceutical Aids, Miscellaneous Last Part of Chapter no 5th.pdf
Enzyme, Pharmaceutical Aids, Miscellaneous Last Part of Chapter no 5th.pdf
Science 7 - LAND and SEA BREEZE and its Characteristics
Science 7 - LAND and SEA BREEZE and its Characteristics
Staff of Color (SOC) Retention Efforts DDSD
Staff of Color (SOC) Retention Efforts DDSD
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
call girls in Kamla Market (DELHI) 🔝 >༒9953330565🔝 genuine Escort Service 🔝✔️✔️
Model Call Girl in Tilak Nagar Delhi reach out to us at 🔝9953056974🔝
Model Call Girl in Tilak Nagar Delhi reach out to us at 🔝9953056974🔝
2016 DFE3613 Chapter 5 Entrepreneurial Creativity and Innovation
1.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 1
2.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 2 CHAPTER 5 ENTREPRENEURIAL CREATIVITY AND INNOVATION
3.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 3 Objectives The objectives of this chapter are to: provide students with a better understanding of the issues on creativity and innovation especially those that are related to entrepreneurship. provide students with creativity techniques that can be applied in their course works
4.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 4 Learning Outcomes At the end of this chapter, students should be able to: be more open minded and ready to accept new ideas gain an understanding of issues on creativity, innovation and learn to apply creativity techniques
5.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 5 Entrepreneurial Creativity and Innovation In free market economy—entrepreneur has to be creative and innovative—in order to be more competitive, to improve market share and to increase profitability. Creativeness and innovativeness are valuable assets—help entrepreneurs to beat their competitors by being able to offer better quality products, at competitive prices and with better service delivery.
6.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 6 Peter Drucker (1986) has stated that, ‘Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or service. According to Kuratko (2009), creativity is a process that can be developed and improved. Everyone is creative to some degree, some individuals have a greater aptitude for creativity than others. Schaper and Volery (2007) stated that creativity is the process through which invention occurs, the enabling process by which something new comes into existence. Baron and Shane (2008) define creativity as a production of ideas for something new that is also potentially useful. Entrepreneurial Creativity and Innovation (cont.)
7.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 7 Creative ideas can be worked out or extracted from three different perspectives as suggested by Bessant and Tidd (2007): Creativity at the personal level includes creative style, inclination, ability to identify, assess and develop new ideas and concepts. Group or social creativity stresses the contribution of teams and groups such as creativity through the discussion of a cross-functional team—may provide a better interface between departments or a more synergistic approach that improve effectiveness and efficiency for the whole group or organization. Contextual creativity focuses on creativity that relates to internal and external context such as processes, tools work method, lay out, structures, strategy, concept, environment, climate, logistic, location, etc. Entrepreneurial Creativity and Innovation (cont.)
8.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 8 Entrepreneurial Creativity and Innovation (cont.)
9.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 9 Components Of Creativity Creative Thinking Skills – refers to how a person identifies a problem and seeks its solution—the capacity and ability to put existing ideas and knowledge together to explore new possibilities. – an entrepreneur identifies opportunities based on market demand, develops a new product concept, formulates a business strategy and mobilizes the required resources to undertake the project. – this requires a lot of creative thinking, resourcefulness and execution skills as it is about being creative at finding the right concept, formula, strategy, products, etc. to make the proposal practical, affordable, viable and acceptable to the customers and various stakeholders. Entrepreneurial Creativity and Innovation (cont.)
10.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 10 Knowledge – Expertise or knowledge encompasses everything a person knows and can do—can be acquired in different ways: formal and informal education—education and training are major factors that distinguish the founders of technical ventures from other types of entrepreneurs. – In order to be creative, a person should have an adequate level of knowledge and skills in the area of his interest as specialized knowledge can enable a person to focus on his specific area of interest—should also have broad general knowledge to enable him to think divergently and integrate or apply other technologies that have been developed in other fields. Entrepreneurial Creativity and Innovation (cont.)
11.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 11 Motivation – Motivation determines what people actually want and will do. – There are two types of motivation: intrinsic and extrinsic. Intrinsic motivation is internally driven through a person interest, desire, aspiration and passion. – Extrinsic motivation can be divided into financial and non-financial motivation. – Non-financial rewards can be in terms of compliments, words of encouragement, acknowledgement, peer pressure and encouragement to promote creativity. Entrepreneurial Creativity and Innovation (cont.)
12.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 12 Example of sources for new ideas Consumers—the feedback and complaints from consumers will trigger ideas on how to fulfil the needs and want of the customers. Existing products and services—existing products and services in the market will give new ideas to entrepreneurs to further improve and upgrade their products and services from time to time. Distribution channels—members of distribution channels are also excellent sources of market information because of their familiarity with the needs of the market. Government—government policy, regulation and support can be a source of new product ideas that push entrepreneurs to be innovative and creative. Entrepreneurial Creativity and Innovation (cont.)
13.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 13 Creativity Techniques Entrepreneurs can use several techniques to help generate new ideas such as: – problem reversal – lateral thinking – forced analogy – mind mapping – brainstorming – attribute listings Entrepreneurial Creativity and Innovation (cont.)
14.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 14 Creativity Techniques Entrepreneurial Creativity and Innovation (cont.)
15.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 15 Problem Reversal It looks at the opposite of things, see things inside out, backwards or upside down. This technique is based on the premise that the world is full of opposites where the action of viewing a problem from an opposite angle and by asking questions can yield a awareness or realization of issues that hitherto is not obvious or noticeable. Entrepreneurial Creativity and Innovation (cont.)
16.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 16 Problem Reversal Entrepreneurial Creativity and Innovation (cont.)
17.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 17 Forced Analogy This technique takes a fixed element such as the product or some idea related to the product and forces it and compares it to the attributes of another unrelated object or element. It is also called forced relationship meaning the action of making an association between two unlike things in order to obtain new insights. There are five steps on processes for forced analogy: – Isolate and list the elements of the problem. – Find and establish possible relationships or connection between the elements. – Record the relationships in an orderly form. – Analyze the resulting relationships to find new ideas or patterns. – Develop new ideas from this pattern. Entrepreneurial Creativity and Innovation (cont.)
18.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 18 Using forced analogy to compare new start-up business with a new born baby. Entrepreneurial Creativity and Innovation (cont.)
19.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 19 Brainstorming The brainstorming term was popularized by Alex Faickney Osborn in 1953. Peters, Hisrich and Shepherd (2008) suggest that when using brainstorming, 4 rules must be adhered to: – No criticism is allowed by anyone in the group especially negative comments. – Freewheeling is encouraged because as the idea is wilder, it becomes better. – Quantity of ideas is desired. The greater the number of ideas, the greater the likelihood of the emergence of the useful ideas. – Combinations and improvements of ideas are encouraged because ideas of others can be used to produce other new ideas. Entrepreneurial Creativity and Innovation (cont.)
20.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 20 Attribute Listing The attribute listing technique is where the problem is broken down into smaller parts or characteristics and analysis is made on each of these parts to develop ideas on how to improve them. In this technique, the entrepreneur is required to list the attributes of an item or problem and look at each from a variety of viewpoints, looking at the positives and negatives aspects. This technique allows entrepreneurs to process some unrelated ideas and form it into a new combination for new uses. Entrepreneurial Creativity and Innovation (cont.)
21.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 21 Mind Mapping Mind mapping technique was developed and made famous by Tony Buzan. A mind map is a diagram used to represent words, ideas, tasks, or other items linked to and arranged around a central key word or idea. Mind maps are used to generate, visualize, structure, and classify ideas, and as an aid to studying and organizing information, solving problems, making decisions, and writing. Entrepreneurial Creativity and Innovation (cont.)
22.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 22 Mind Mapping Entrepreneurial Creativity and Innovation (cont.)
23.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 23 Lateral Thinking Lateral thinking technique was introduced and developed by Edward De Bono. Lateral thinking requires a person to explore the possibility of new solutions to a problem from a different approach or perspective. Looking at and analyzing problems from a different perspective may give new insight and new solutions to an old problem or the problem itself may already be irrelevant. Entrepreneurial Creativity and Innovation (cont.)
24.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 24 The Process Of Creativity Entrepreneurial Creativity and Innovation (cont.)
25.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 25 Knowledge Accumulation This phase focuses more on the study of the background for the subject matter which requires extensive reading, discussion with experts, practitioners, academicians, researchers in the field, attending workshops and seminars. This exploration exposes and helps entrepreneurs to have a better understanding on the subject matter. Entrepreneurial Creativity and Innovation (cont.)
26.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 26 Incubation In the incubation stage, an individual will immerse oneself by allowing the subconscious mind to muse or ponder on the information gathered. The individual may not be directly involved in the creative task. Incubation may be induced by engaging in ‘relaxing activities’ such as painting, meditating or playing sports or board games. The rationale is that new ideas or new insight often emerge when one is busy doing something unrelated to the matter. Entrepreneurial Creativity and Innovation (cont.)
27.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 27 According to Davenport and Prusak (2000), ideas are free. Ideas to innovate can come from various sources as mentioned by Drucker (1986): The unexpected sources—sources of innovation might be derived from unexpected success, unexpected failure or unexpected events which trigger ideas and creativity in firms. The incongruity—the uneasiness of customers in dealing with their daily lives could give firms ideas to create something new for the customers. For example, paying bills on the Internet. Process need—opportunity is the source of innovation. Ideas could be derived from the market information. Entrepreneurial Creativity and Innovation (cont.)
28.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 28 Changes in industry or market changes that caught everyone unawares—the effect of globalization that has an impact on the industry. Demographic changes—population change is one of the innovation sources in meeting consumers needs. Changes in perception, mood and meaning—trend and lifestyles are among the sources of innovation under this source of innovation. New , scientific and non-scientific knowledge—knowledge- based innovation is based on this source— is unique as the competitors could have a hard time to imitate the innovation. Entrepreneurial Creativity and Innovation (cont.)
29.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 29 Evaluation and Implementation In this phase, a person transforms the idea into a workable solution. The process of evaluation and implementation requires continuous development and assessment so that a raw idea can be conceptualized, modeled, strategized, refined, reworked, improved, adjusted to make it practical, affordable, viable and acceptable to the customers and stake holders. Entrepreneurial Creativity and Innovation (cont.)
30.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 30 Factors Influencing Creativity Entrepreneurial Creativity and Innovation (cont.)
31.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 31 Entrepreneurial Creativity and Innovation (cont.)
32.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 32 Innovation Innovation can be defined as the process by which entrepreneurs convert opportunities (ideas) into marketable solutions. It is the means by which they become catalysts for change (Kuratko, 2009). Innovation is commonly defined as ‘the introduction of something new’ or ‘a new way of doing something’. Entrepreneurial Creativity and Innovation (cont.)
33.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 33 According to Kinicki and Williams (2003), innovation is finding ways to deliver new or better goods or services. Chell (2001) stated that innovation is also deemed as the creation of something new in the marketplace that alters the supply–demand equation. Peter Drucker said ‘Innovation is change that creates a new dimension of performance. Many successful innovations improve on an existing product to make it a better product in terms of quality, cost (price), or service delivery. Entrepreneurial Creativity and Innovation (cont.)
34.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 34 Innovation, according to Schumpeter (1934), covers: • the introduction of a new good or a new quality of the good • the introduction of a new method of production • the opening of a new market • the conquest of a new source of supply • the carrying out of the new organization of an industry Entrepreneurial Creativity and Innovation (cont.)
35.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 35 Entrepreneurial Creativity and Innovation (cont.)
36.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 36 Sources of Innovation Professor Thomas W. Mason states that successful innovation is seldom the outcome of a brilliant idea. Peter Drucker emphasized looking for unexpected events, stupid situations, needs within current processes and changes in industry structure, demographics and perception. Entrepreneurial Creativity and Innovation (cont.)
37.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 37 The following are four sources of innovation for entrepreneurs. – unexpected events or occurrence – new-knowledge concept – changes of demographics – process needs Entrepreneurial Creativity and Innovation (cont.)
38.
All Rights ReservedFundamentals
of Entrepreneurship © Oxford Fajar Sdn. Bhd. (008974-T), 2013 1– 38 Entrepreneurial Creativity and Innovation (cont.)
Download now