innovation & entreprenuers

8/4/2019 Innovation & Entreprenuers

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National Seminar on Innovation &

Entrepreneurship


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What is innovation?

The Concise Oxford English Dictionary

The act of bringing in new methods, ideas,etc.

Peter Drucker

Change that creates a new dimension of performance.

Product innovation Vs. Process innovation

Incremental Vs. Radical innovation


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Why Innovation?

For development and commercialization of newproducts/services that replace the old ones and also moreeffectively satisfy new needs

For development and implementation of new processes thatproduce such products and deliver higher quality with lowerconsumption of resources.

For creation of new organizational structures that makeeconomic and productive systems more capable of responding tothe dynamic evolution of needs.


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Innovation andEntrepreneurship Education

Innovation is linked to the specific strengths that theinnovator/entrepreneur brings to bear on the problem to besolved.

It is dependent to a large extent on the individuals ability to

identify and grasp discontinuities earlier than other people. Any innovative idea, if it is to be taken further and translated

into reality in the form of a product, service, process or evenorganization, needs to have the risks involved assessed in detail.

Entrepreneurship education is essential for

Helping with the development of the ability to generate such ideas

Developing the ability to assess the risks ( and hence the chances ofsuccess) involved.


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It must be noted that innovative ideas are not necessarily thesame as serendipity.

An inborn talent bestowed on a chosen few by the mercifulHeavens above.

While all individuals have creative potential and the ability to beinnovative in some field.

It is necessary to make specific efforts to turn this potential intoexpression.

Entrepreneurship education plays a major role in developing thisskill.


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IBM 2008 Global CEO Study

Nearly all CEOs are adapting their business models

Two-thirds are implementing extensive innovations.

More than 40 percent are changing their enterprise models tobe more collaborative.

Enterprise of the future is


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The System of Innovation

The Innovators

Industry

Intellectual Capital

Government

A systemOf the peopleBy the peopleFor the people


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The Stake Holders

Innovators

Students at any level/age

Working professionals at any level/age

Non-working section of society

Retired people Government

Industry

Regular Companies

Venture capitalists

Intellectual Capital

Professors of top universities/colleges

Research associates/heads of leading industries

Academic scholars

Established entrepreneurs / business heads


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2009 2010

Apple

Google Toyota

Microsoft

Nintendo

IBM

Hewlett-Packard

Rsearch In Motion

Apple

Google Microsoft

IBM

Toyota

Amazon.com

LG Electronics

BYD (china)

Comparison of top 15 Innovativecompanies


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2009 2010

Nokia

Wal-Mart Amazon.com

Procter & Gamble

TATA Group Sony

Reliance Industries

GE

Sony Samsung Electronics

Intel

Ford Motors Research In Motion

Volkswagen

Continued.


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Methods of Idea Generation

Focus Groups

In this method a Moderator leads a group of 8 to 10 participants

through an open, in-depth discussion. The group participants arestimulated by comments from other group members in creativityconceptualizing and developing a new idea.

Brainstorming -

This type of method allows people to be stimulated to greater

creativity. In this of method no criticism is allowed by any groupmember, quantity of idea is desired.


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Reverse Brainstorming

It is a group method for obtaining new ideas focusing on thenegative. Criticism is allowed in this method.

Brain writingIt is a form of silent, written brainstorming. Participants writetheir ideas on special forms or cards that circulate within thegroup ,usually of six members. This method gives participantsmore time to think.

Gordon MethodThis is a method for developing new ideas when the individualsare unaware of the problem. This ensures that solution is notclouded by preconceived ideas.


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Free association

This is a method of developing new ideas through a chain of wordassociation.The word or the phrase related to the problem is written down, with eachnew word attempting to add something new to the ongoing thoughtprocesses, thereby creating a chain of ideas ending with a new product idea

emerging.

Forced relationshipThis is a method of developing new ideas by looking at productcombinations.1.Isolate the elements of the problem.

2.find the relationship between these elements.3.Analyse the resulting relationships to find ideas or patterns.4.Develop new ideas from these patterns.


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Parameter Analysis

This is a method of developing new ideas by focusing onparameter identification and creative synthesis. This methoddeals with analyzing variables in different situation to determinetheir relative importance. These variables become the focus ofthe investigation.

Checklist MethodThis is a method of developing new ideas through a list of relatedissues. The checklist can be used to guide the direction ofdeveloping entirely new ideas or concentrating on specific idea.

Collective notebook MethodThis is a method of developing new ideas by group membersregularly recording new ideas in a small notebook.


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Attribute listing

This is a method of developing new ideas by looking at thepositives and negatives.This is an idea finding technique that requires to list theattributes of an item or problem and then look at each from a

variety of viewpoints.

Big-dream ApproachThis is a method of developing new ideas by thinking withoutconstraints.

Every possibility should be recorded and investigated withoutregard to all the negatives involved or the resources required.Idea should be conceptualized without any constraints until anidea is developed into a workable form.


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Every idea is not anopportunity

A significant risk that entrepreneurs-to-be run is assumingthat the creative idea they are exploring is necessarilysomething the rest of the world loves, too.

Business opportunity is therefore assumed to be the sameas their business idea, often only to be met with rejectionand disillusionment. It is necessary, once the idea has beendeveloped, to ask oneself these questions

Do I know who will find my idea useful , and more usefulthan other alternatives available for satisfying the need Myidea aims at? How many such people are there?


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Innovation In Gist


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innovation & entreprenuers

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