4.creativity and innovation

7/27/2019 4.Creativity and Innovation

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CREATIVITY AND INNOVATION

Prepared for class discussion by

Prof.S.Suryanarayanan

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INNOVATIVE ENTREPRENEURS

Innovation is the specific tool of entrepreneurs ,the means by

which they exploit changes as an opportunity for different

business or a different service.

--Peter P. Drucker

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Creativity- ability to bring something new into existence; thinking

new things

Innovation-ability to apply creative solutions to opportunities ;

process of doing new things

Creativity is a prerequisite to innovation

Creativity and innovation can not be taught ; can be learnt ; can

be nurtured

A quote: innovation and creativity are not just for artists; they are

skills with a direct, bottom line-payoff.

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CREATIVE THINKING

LEFT HEMISPERE/ LEFT BRAIN RIGHT HEMISPHERE/ RIGHT BRAIN

Analytical side

Rational

Logical

Conscious

Creative side

Non rational- Imagining without direction

Intuitiveexperience, emotions influence

Synthesizingfantasizing

Good engineer/manager

Entrepreneur integrates rationality

Creative artist/ fantasizer/ vision

to harvest creativity.

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CAN YOU SPOT THE PERSON?

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CAN YOU RECOGNISE THE WELL KNOWN PHRASES?

THAN LIFES H E E T

ObjectionRuled

Tax ( )

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BARRIERS TO CREATIVITY

Ten mental blocks that limit creativity:

1. Searching for the one right answer.

2. Focusing on being logical .

3. Blindly following the rules.

4. Constantly being practical.5. Viewing play as frivolous.

6. Becoming overly specialised.

7. Avoiding ambiguity.

8. Fearing looking foolish.

9. Fearing mistakes and failures.

10. Believing that I am not creative .

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BUILDING CREATIVE ENVIRONMENT ( LIKE 3M,GOOGLE )

1. Include creativity as core company value

2. Embrace diversitydiverse workforce

3. Expect creativityinvite ideas.

4. Expect and tolerate failures.

5. Encourage curiosityask questions6. Create a change of scenery periodically

7. View problems as challenges

8. Provide training in creativity

9. Develop procedure for capturing ideas

10. Talk with customers

11. Reward creativity

12. Set example of creative behaviour.

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Characteristics exhibited by leaders of innovation:

1. They think

2. They are visionaries

3. They listen to customers

4. They understand how to manage ideas5. They are people cantered

6. They maintain a culture of change

7. They maximise team synergy, balance, and focus

8. They hold themselves and others accountable for extremely highstandards of performance

9. They refuse to take no for an answer

10. They love what they do and have fun doing it.

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CREATIVE PROCESS ( IDEATION PROCESS )

Idea germination---seeding stage of an idea, recognition

Preparation---conscious search for knowledge, rationalization

Investigation ---observe and understand how things work

Incubation---subconscious assimilation of information, to reflecton the information, fantasizing

Illumination---recognition of idea as being feasible, realization,

Eureka time

Verification---application or test to prove idea has value,validation

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Invention

Creation of something new

Results in new knowledge

Innovation

Transformation of idea or

resources into useful

applications

Results in new products,services or processes.

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Four types of innovation

1.inventionnew product/service ( airplane ,light bulb, telephone )

2.Extension-expansion/ different application of existing product/service (

McDonalds, Resorts)

3.Duplicationreplication of existing product/service ( Wal Mart, )

4.Synthesiscombination of existingideas/concepts ( Fedex, Starbucks )

Innovation can also be classified as:

A. Breakthrough innovation

B. Technological innovation

C. Incremental innovation

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TRANSLATION OF CREATIVE IDEA INTO A USEFUL APPLICATION

Analytical planning---to identify product design, market strategy, financial need

Organising resourcesto obtain materials, technology, human resources and

capital

Implementationto accomplish organisation, product design, manufacturing

services

Commercial applicationto provide value to customers, rewards for employees,

revenues for investors and satisfaction for founders

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EXAMPLES OF INNOVATION PROCESS

Story of Siddarth, agriculturist becoming entrepreneur.

Story of Capt. Gopinath, an Ex Army man, agriculturist turned into

aviation entrepreneur.

Story of Kiran Mazumdar ( I am a woman, I have never done a

business and I have no money )

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CREATING INNOVATORS: THE MAKING OF YOUNG PEOPLE

WHO WILL CHANGE THE WORLD. BY

TONY WAGNER

Culture of schooling ( in USA) and Learning culture that produces

innovators

Individual achievement ( ranking of

kids)

Individual assignments

Demands collaboration; builds team

work

Focuses only on specialization Problem based, multi disciplinary

approach to learning

Risk averse; penalizes failure Taking risks and learning from

mistakes

Passive experience; sit all day andconsume information

Create real products for realaudience

Extrinsic incentivescarrot and stick

( grade A/ grade F )

Intrinsically motivated; remarkable

emphasis on play, passion and

purpose

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Empowering students to be innovators.

Discussion on material provided.

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REFERENCE

Notes in these slides were prepared using materials from

following text books:

1. Entrepreneurship-theory and practice by Raj Shankar

2. Essentials of Entrepreneurship and Small Business Management by

Thomas Zimmer, Norman Scarborough3. Entrepreneurship by Robert Hisrich, Mathew Manimala, Michael Peters

and Dean Sheperr

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