week 3-creativity and innovation

8/2/2019 Week 3-Creativity and Innovation

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The whole entrepreneurship process requirescreativity and innovation.

It encompasses aspects such as management,

leadership,

motivation,

communication,

product development,

customer service etc


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CREATIVITY: the concept of generating ideas,formulas or patterns as well as discoveringthe existence of opportunities and resources.

INNOVATION: the process that involves ideaselection and development throughharnessing creative energy so as to convert

ideas, patterns and formulas in to moreefficient products or processesCreativity is the foundation of innovation but a

business cannot survive on creativity alone!


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Discovering the existence of opportunities

e.g opportunity to create a TV reality show

Utilising the opportunities generated from

creativity by increasing efficiency or

effectiveness e.g sponsor, tv station,

budget

Idea generation Idea selection, development, coordinationand implementation

Originality Building on concepts

Exploration, adventure of non-existing or

undiscovered resources

Revolution, automation ,rationalization of

procedures , business process re-

engineering and paradigm shiftWay of thinking shaped by perception Implementing the thoughts

Bring forth, conceive ,generate patterns

,ideas

Conversion of ideas, patterns and

formulae in to new products


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1. Employee empowerment2. Decentralizing tasks . It helps in;

Specialization

Democracy hence employees participate in decision

making Increases accountability and responsibility

3. Minimizing bureaucracy

4. Risk management

insurance, covering risks associated with creativity,

compensation procedures


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5. Reward scheme Investing in R & D/ training

Ensuring access to information

Providing a conducive working environment

Providing assurance

job security Managing transition process

Providing incentives rewards, prizes


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moderators and team members

unrestrictive environment

encourages free speech

Moderator can be present or absent

Discussion- directed /non-directed

Focus on specific area

Facilitated by a team of experts with knowledge inthe specific area

No team member dominates / favour sides

No criticism of any member

Members can improve on quality of ideas generated


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3. Check list method A list of unlimited ideas are generated

Pick the relevant and most appropriate suggestions

4. Synetics A scientific process controlled by an expert.

Classifies problems and solutions in to 4 categories;

Personal- own ideas

Directrelate to the problem at hand

Symbolic- create identity Fantasyimaginative


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5. Free association Members are organized in sequence

The 1st member generates a word, phrase, picture or symbol

The 2nd adds meaning to it

The patterns continues until new ideas are generated from achain of members

e.g. water

Selling water

Selling rain water

Harvesting and selling rain water

Construct reservoirs and dams for rain water harvesting


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6. Problem inventory analysis Team of members from different sectors (stakeholders)

They are presented with a list of problems or undeveloped

concepts and asked to generate solutions to each problem

Give strengths and weaknesses of each solution The entrepreneur then selects the most suitable solution

7. Attribute listing Similar to problem inventory

The entrepreneur can review and analyze the strengths of ideasin varied perspectives

Can combine some solutions to form new concepts

Customize the solutions to suit a particular problem


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8. Gordon method Team members are assembled with no knowledge of

the subject of discusiion

All members start at a blank slate

An entrepreneur then floats the subject Members respond by giving their own ideas

The actual problem is revealed at last.

The method encourages diversified thinking henceversatile solutions


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9. Collective book method . A pocket size note book, laptop, smart phone used

to install ideas generated.

Problems are written down and the user can visit the

problems frequently creating possible solutions If a solution is arrived at its quickly recorded

At the end of the period, the notes are revised andsolutions arrived at


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Product innovationsDesign features

Ingredients

Patterns and formulae

These determine the strength of the product The composition of the product will influence

the acceptance of the product in the market.

Entrepreneurs should study the consumerbehavior &business environment factors


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Stages of processing technology used

Supply chain management

Bench marking Total quality management


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Strategies developed here should focus onconcepts such as market share, brand loyalty,product image, acceptance ,identity anduniquenessCompetitive advantage

Differentiation on what the firm wants to sell

Branding that strengths identity, association andloyalty.

Market fragmentationPromotional tools


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Entrepreneur decides to change totally thebusiness model or take a completely newdirection

Change of vision and mission.

Reasons for the aggressive and ambitiousinitiative; Stiff competition

Market saturation

New opportunities

Change of trends

Political instability


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type Description examples

Invention Totally new product, service or

process

Wright brothers-airplane

Alexander graham bell-

Telephone

Extension New use or different application of

an already existing product, serviceor process

Cinema halls for churches

Personal car for taxi

Duplication Creative replication of an existing

concept

Cereal banks

Parallel degree programmes

Lonely heart column

Synthesis Combination of existing concepts

and factors into a new formulation

or use

Christian disco bar

Petrol station with supermarket

Nyama choma bars

week 3-creativity and innovation

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