The document discusses innovation and creativity. It states that innovation is key for entrepreneurs and involves converting opportunities into marketable ideas through a creative and systematic process. Creativity generates new ideas that improve efficiency and involves both process and people. The creative process involves phases like knowledge accumulation, incubation, idea generation, and evaluation. Developing creativity requires recognizing relationships, having a functional perspective, using both sides of the brain, and eliminating limiting mindsets. Innovation often stems from addressing incongruities or needs and following principles like keeping ideas simple, customer-focused, and continually testing and revising.

1. DEVELOPING
CREATIVIY AND
UNDERSTANDING
INNOVATION
7/27/2012 1

2. INNOVATION AND THE
ENTREPRENEUR
 Innovation is the key function in the
entrepreneurial process
 Innovation is the process by which
entrepreneurs convert opportunities
into marketable ideas.
 Innovation is more than just a good
idea.
 Entrepreneurs blend creative thinking
with a systematic,logical process
ability
7/27/2012 2

3. ROLE OF CREATIVITY
 Creativity is the generation of ideas
that result in the improved efficiency
or effectiveness of a system.
 Two important aspects of creativity
are process and people.
Process is goal oriented.
People are the resources that
determine the solution.
7/27/2012 3

4. TWO APPROACHES TO CREATIVE PROBLEM SOLVING
ADOPTOR INNOVATOR
 Employs a disciplined,  Approaches tasks from unusual
precise, methodical approach. angles.
 Is concerned with solving,  Discovers problems and
rather than finding problems. avenues of solutions.
 Attempts to refine current  Questions basic assumptions
practices. related to current practices.
 Tends to be means oriented.  Has little regard for means, is
 Is capable of extended detail more interested in ends.
work.  Has little tolerance for routine
 Is sensitive to group cohesion work.
and cooperation.  Has little or no need for
consensus, often is insensitive
7/27/2012 4
to others.

5. NATURE OF CREATIVE PROCESS
 Creativity is a process that can be
developed and improved.
 Everyone is creative to some
degree.
 Creativity is not some mysterious
talent reserved for few.
 Barriers to creative thinking are
sometimes the inadvertent ‘killer
phrases’.
7/27/2012 5

6. SOME IDEA STOPPERS
 ‘Naah’
 ‘That’s the dumbest thing I have ever
heard’.
 ‘We have done all right so far why do
we need that?’
 ‘That doesn’t sound practical’.
 ‘Lets get back to reality’.
 ‘Where do you get these weird ideas’
7/27/2012 6

7. CREATIVE PROCESS-PHASES
Incubation
Knowledge Creative Ideas
Accumulation Process
Evaluation and
Implementation
7/27/2012 7

8. PHASES OF CREATIVITY
 Phase 1 : Background or Knowledge
Accumulation.
 Phase 2 : The Incubation process.
 Phase 3 : The idea experience.
 Phase 4 : Evaluation and Implementation
7/27/2012 8

9. DEVELOPING YOUR CREATIVITY
 RECOGNIZING RELATIONSHIPS.
 DEVELOPING A FUNCTIONAL
PERSPECTIVE.
 USING YOUR BRAIN.
 ELIMINATING MUDDLING MIND-SETS.
7/27/2012 9

10. DEVELOPING CREATIVITY
RECOGNIZING RELATIONSHIPS :
 Seeing new and different relationships among
objects, processes, materials, technologies and
people.
 Perceiving in a relational mode.
DEVELOPING A FUNCTIONAL PERSPECTIVE :
 View things and people in terms of how they
can satisfy your need to complement a project
7/27/2012 10

11. DEVELOPING CREATIVITY
USING YOUR BRAIN
LEFT HEMISPHERE RIGHT HEMISPHERE
 VERBAL NONVERBAL

 ANALYTICAL SYNTHESIZING
 ABSTRACT  SEEING ANALOGIES
 RATIONAL  NONRATIONAL
 LOGICAL  SPATIAL
 LINEAR  INTUTIVE
 IMAGINATIVE
TO BECOME MORE CREATIVE IT IS NECESSARY TO
PRACTICE AND DEVELOP BOTH HEMISPHERE SKILLS
7/27/2012 11

12. WAYS TO DEVELOP LEFT AND RIGHT HEMISPHERE SKILLS
LEFT HEMISPHERE SKILLS RIGHT-HEMISPHERE SKILLS
 Step by step planning of your  Using metaphors and
work and life activities. analogies to describe things
 Reading ancient, medieval, and and people in your
scholastic philosophy , legal conversation.
cases and books on logic.  Recording your hunches,
feelings, and intuition and
 Establishing timetables for all of calculating their accuracy.
your activities.  Detailed fantasizing and
 Using and working with a visualizing things and
computer program. situations in future.
 Drawing faces, caricatures,
7/27/2012
and landscapes. 12

13. DEVELOPING CREATIVITY
ELIMINATING MUDDLING MIND-SETS
 EITHER / OR THINKING
 SECURITY HUNTING
 STEREOTYPING
 PROBABILITY THINKING
7/27/2012 13

14. THE INNOVATION PROCESS
 Most innovations result from a
conscious, purposeful search for
new opportunities.
 Successful innovators use both left
and right sides of the brain.
 Most successful innovations are
simple and focused.
 Innovation often involves more
7/27/2012 work than genius 14

15. TYPES OF INNOVATION
 INVENTION : Totally new product , service
or process.
 EXTENSION : New use or different
application of an already existing product,
service ,or process.
 DUPLICATION : Creative replication of an
existing concept.
 SYNTHESIS : Combination of existing
concepts and factors into a new
formulation or use.
7/27/2012 15

16. INNOVATION SOURCES
 Unexpected occurrences.
 Incongruities.
 Process needs.
 Industry and market changes.
 Demographic changes.
 Perceptual changes.
 Knowledge-based concepts.
7/27/2012 16

17. MAJOR INNOVATION MYTHS
 INNOVATION IS PLANNED AND
PREDICTABLE.
 TECHNICAL SPECIFICATIONS SHOULD BE
THROUGHLY PREPARED.
 CREATIVITY RELIES ON DREAMS AND
BLUE-SKY IDEAS
 BIG PROJECTS WILL DEVELOP BETTER
INNOVATIONS THAN SMALLER
 TECHNOLOGY IS THE DRIVING FORCE OF
INNOVATION AND SUCCESS
7/27/2012 17

18. PRINCIPLES OF INNOVATION
 Be action oriented.
 Make the product, process, or service simple and
understandable.
 Make the product ,process or service customer based.
 Start small.
 Aim high.
 Try / Test / revise.
 Learn from failures.
 Follow a milestone schedule.
 Reward heroic activity.
Work , Work , Work .
7/27/2012 18

19. FINANCIAL SUPPORT FOR
INNOVATION
 VENTURE CAPITALISTS.
 GOVERNMENT SUPPORT.
 NGO’S.
7/27/2012 19

20. 7/27/2012 20