Creativity & Innovation - Week 11
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MGT 353 Creativity & Innovation developed for San Diego State University by Kevin Popovic
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Creativity & Innovation - Week 11
- 1. Creativity + Innovation Kevin Popović, B.A., M.S. © Kevin Popović, SDSU Creativity + Innovation
- 2. CourseKey © Kevin Popović, SDSU Creativity + Innovation Please check-in: x94zcv
- 3. Session 1.11 • Welcome • Roll, Admin • Game • Reading © Kevin Popović, SDSU Creativity + Innovation • Review Projects • Guest Speaker • Assignment
- 4. © Kevin Popović, SDSU Creativity + Innovation The Business of Medical Marijuana Patrick M. Rost, Founder & CEO, Capital Investors
- 5. © Kevin Popović, SDSU Creativity + Innovation Make A Better: Reading A Game of Collaboration and Innovation
- 6. Harvard Business Review © Kevin Popović, SDSU Creativity + Innovation Innovation: The Classic Traps
- 7. Innovation: The Classic Traps • Innovation goes in or out of fashion as a strategic driver of corporate growth, but with every wave of enthusiasm, executives make the same mistakes. • Most of the time, they stumble in their R&D efforts because they are engaged in a difficult balancing act © Kevin Popović, SDSU Creativity + Innovation
- 8. Innovation: The Classic Traps • They need to protect existing revenue streams while coaxing along new ones. • But “corporate entrepreneurship” doesn’t have to be an oxymoron. • Innovation can flourish if executives heed business lessons from the past. © Kevin Popović, SDSU Creativity + Innovation
- 9. Strategy Lessons • Not every innovation idea has to be a blockbuster. Sufficient numbers of small or incremental innovations can lead to big profits. • Don’t just focus on new product development: Transformative ideas can come from any function— for instance, marketing, production, finance, or distribution. © Kevin Popović, SDSU Creativity + Innovation
- 10. Strategy Lessons • Successful innovators use an “innovation pyramid,” with several big bets at the top that get most of the investment; a portfolio of promising midrange ideas in test stage; and a broad base of early stage ideas or incremental innovations. Ideas and influence can flow up or down the pyramid. © Kevin Popović, SDSU Creativity + Innovation
- 11. Process Lessons • Tight controls strangle innovation. The planning, budgeting, and reviews applied to existing businesses will squeeze the life out of an innovation effort. © Kevin Popović, SDSU Creativity + Innovation
- 12. Process Lessons • Companies should expect deviations from plan: If employees are rewarded simply for doing what they committed to do, rather than acting as circumstances would suggest, their employers will stifle and drive out innovation. © Kevin Popović, SDSU Creativity + Innovation
- 13. Structure Lessons • While loosening formal controls, companies should tighten interpersonal connections between innovation efforts and the rest of the business. • Game-changing innovations often cut across established channels or combine elements of existing capacity in new ways. © Kevin Popović, SDSU Creativity + Innovation
- 14. Structure Lessons • If companies create two classes of corporate citizens—supplying the innovators with more perks, privileges, and prestige—those in the existing business will make every effort to crush the innovation. © Kevin Popović, SDSU Creativity + Innovation
- 15. Skills Lessons • Even the most technical of innovations requires strong leaders with great relationship and communication skills. • Members of successful innovation teams stick together through the development of an idea, even if the company’s approach to career timing requires faster job rotation. © Kevin Popović, SDSU Creativity + Innovation
- 16. Skills Lessons • Because innovations need connectors—people who know how to find partners in the mainstream business or outside world—they flourish in cultures that encourage collaboration. © Kevin Popović, SDSU Creativity + Innovation
- 17. Individual Project + Memo Creativity & Innovation © Kevin Popović, SDSU Creativity + Innovation
- 18. Individual Project + Memo • Develop a creative product or service • Be novel, useful, have market potential • Write 1-page memo mapping ideas to what you have learned in class that will insure effectiveness of your idea • Select a creativity exercise or technique, apply to your idea, document. • Apply what you have learned (50%) • 1:00 presentation of concept, explain thinking, sell your idea (50%). © Kevin Popović, SDSU Creativity + Innovation
- 19. Design Thinking Group Project Creativity & Innovation © Kevin Popović, SDSU Creativity + Innovation
- 20. Design Thinking Group Project • Groups of 5 • Apply a design thinking approach to develop a new product or service • 3:00 Creative presentation • Include project overview (memo) • Grades = group presentation (50%, memo (30%), individual evaluation (20%) • Survivor rules apply © Kevin Popović, SDSU Creativity + Innovation
Editor's Notes
- Creativity and innovation are integral to an organization’s ability to survive and thrive in today’s competitive marketplace. This course provides students with an understanding of how creativity and innovation can be facilitated and managed in a work setting. Students will learn about theoretical conceptualizations of creativity and innovation as well as practical applications involved in fostering creativity and innovation in the workplace. Students will be expected to play an active role in learning through class exercises, class discussions, and dialogue with guest speakers, and presentations about real (or planned) innovations in organizations.
- Discussion: Innovation: The Classic Traps, Harvard Business Review https://hbr.org/2006/11/innovation-the-classic-traps
- Innovation goes in or out of fashion as a strategic driver of corporate growth, but with every wave of enthusiasm, executives make the same mistakes. Most of the time, they stumble in their R&D efforts because they are engaged in a difficult balancing act: They need to protect existing revenue streams while coaxing along new ones. But “corporate entrepreneurship” doesn’t have to be an oxymoron. Innovation can flourish if executives heed business lessons from the past.
- Innovation goes in or out of fashion as a strategic driver of corporate growth, but with every wave of enthusiasm, executives make the same mistakes. Most of the time, they stumble in their R&D efforts because they are engaged in a difficult balancing act: They need to protect existing revenue streams while coaxing along new ones. But “corporate entrepreneurship” doesn’t have to be an oxymoron. Innovation can flourish if executives heed business lessons from the past.
- Creativity / Innovation Application Presentation, Memo: For this project, students will apply what they have learned during the semester. First, you need to include a creative component to the project. You could develop a product or service, or you can propose another creative idea to me in advance. Your idea should not be dangerous or offensive, and should not involve cheating or fraud. Your creative component should be novel (new in some way) and useful. It should be clear that there potential for a market or audience for your idea. Second, you need to write a one-page memo in which you outline how concepts and suggestions that you have learned in this class apply to your creative idea. Concepts and suggestions that will help to ensure the effectiveness of your idea, or that will minimize the possibility of challenges which could arise, should be outlined. Bullet point form is recommended to remain organized and succinct. Third, select one of the creativity exercises / techniques used in class this semester and apply the technique to your project idea. Include evidence that you have used a technique as an appendix for this assignment. Lastly, you will be expected to give a 1-minute presentation in which you introduce your concept, explain your thinking and sell your idea to the class. This will help improve your idea and presentation skills.
- Design Thinking Group Project: Groups of (approximately) 5 students will work together on a project in which they will apply a design thinking approach to develop a new product or service for a company of their choice. Groups must confirm with the availability of their company choice with the Instructor at least two (2) weeks before your presentation (first come, first choice). The group presentation should last at least 10-minutes, no longer than 15-minutes. You are strongly encouraged to be creative with your presentation. The project overview must be turned in at the conclusion of your presentation. This Microsoft Word document must at least 3-pages, no be longer than 5-pages, double-spaced, 12-point Arial font with 1” margins. Pictures or tables do not count towards the page total. Your project overview will include references cited and does not count towards the minimum requirements. Grades will be based on the quality of your group presentation and the quality of your group project overview. More details will be provided in advance of the assignment. Team member evaluations will be conducted for the group project and used to adjust grades for those demonstrate exemplary or unsatisfactory contributions to the team. Peer evaluations will comprise 20% of each student’s grade for this assignment. Groups have the option to vote for a dismissal of a group member. If 75% of your group votes to remove you from the group you will be given an alternative individual assignment.