1. 1 Entrepreneurship 110 Invention and Innovation Lesson 5 – Chapter 5

2. 2 Definitions What is the difference between invention and innovation? Invention - the creation of something new. Innovation - a change to something that already exists

3. 3 Can You… List 5 inventions and 5 corresponding innovations: Inventions:Innovations:

4. 4 Why is it so hard to list modern day inventions, yet so easy to list modern day innovations? The answer may be that: “Everything has been done.” But has it? With the rapid rate of change in the Information Age, there is no point in “reinventing the wheel” when you can just “replace the tire.” The basic inventions were created a long time ago for us, now we just need to keep improving them.

5. 5 Invention or Innovation? Cell Phone DVDs Palm tm Pilots Reversible clothing Men’s skincare prod. Lycra® or Gor-Tex® I pods Snowboard In-line skates On-Star Global Positioning System Power bars Scented markers One piece hockey sticks

6. 6 Where can you look to find ideas for inventions and/or innovations? Newspaper - tells you about business trends; the classifieds tell you about local needs and wants, etc. Magazines - predict and report changes in consumer buying, etc. Trade Shows - manufacturers and distributors display their newest products and services, etc. Be observant - you must be aware of your surroundings. What patterns exist there? What do these patterns tell you about needs and wants?

7. 7 Twenty Ways to Generate Ideas 1. Copy (BE CAREFUL!) somebody else’s successful idea; there may be room for competition 2. Combine other products or services already on the market to create an even better product or service. 3. Solve problems that currently exist. The solution could be a potential business. 4. Find out what your competition is bad at and do it well. 5. Develop your hobby and turn it into a business. 6. Build on your own skills. 7. Turn waste materials into something useful. Green is a growing industry. 8. Travel and look for ideas instead of looking for ideas to come to you.

8. 8 9. Brainstorm various ideas with a group or alone. 10. Talk and listen to people. 11. Make lists. Lists can be reviewed and help you think of other potential ideas and/or spin-off ideas. 12. Look for gaps in the market. What is missing in your community? 13. Finding new ways of doing things. 14. Improve an existing product/service. 15. Daydream and let your imagination take over. 16. Do market research. 17. Look at what things do rather than what they are. 18. Listen to people say “If only …” and find a solution to their problems. 19. Always be on the lookout for opportunities. 20. Think in new ways – sideways, backward, big, small.

9. 9 The Lightbulb Moment What characteristic - above all others - does a person possess which makes it “easier” for them to make inventions and innovations? Creativity

10. 10 Theories on Creativity We will be looking at two theories on creativity and ability: Right vs. Left Brain Thinking Hat Theory

11. 11 Left & Right Brain Theory

12. 12 Left Brain vs. Right Brain The concept of right brain and left brain thinking developed from the research in the late 1960s of an American neuropsychologist and neurobiologist Roger W Sperry. He discovered that the human brain has two very different ways of thinking. Sperry was awarded a Nobel Prize in 1981, although subsequent research has show things aren't quite as contrasting as once thought (nor as simple).

13. 13 Let’s Get Physical We certainly do have two hemispheres in our brain, each responsible for different physical abilities. Furthermore, physically we are “cross connected,” meaning that the right side of our brain controls the left side of our bodies and vice versa. For example, if a patient has a stroke and is paralyzed on the left side of their body, the stroke has damaged the right side of their brain.

14. 14 What About Emotions and Cognitive Ability? So the “two brains” have different physical responsibilities. But could they have different emotional and cognitive responsibilities as well? According to Roger W Sperry, indeed they could AND do. According to this theory, every person is dominantly right or left brained when it comes to emotional and cognitive functions.

15. 15 Is the dancer moving in a clockwise (toward the right) or counterclockwise (to the left) motion?

16. 16 If you see the dancer moving clockwise, then you use more of the right side of your brain and vice versa. Most of us would see the dancer turning counter-clockwise, though you can try to focus and change the direction; see if you can do it.

17. 17 Left Brain Dominance Functions uses logic, detail oriented, facts “rules”, words and language, math and science, “knowing”, order/pattern awareness, object names, reality based, forms strategies, practical, safe, prefer to work alone

18. 18 Right Brain Dominance Functions uses feeling, "big picture" oriented, imagination rules – creativity, symbols and images, appreciative, spatial perception, fantasy, presents possibilities, impulsive, risk taking, prefer to work in groups, visual arts, industrial arts

19. 19 Self Assessment – Brain Hemisphere Dominance Complete the quiz to determine your brain “dominance.” Answer questions honesty. Follow along as we identify what each answer reveals about you!

20. 20 Answer Key 1. Right = R; Left = L 2. Objective = L; Subjective = R 3. Yes = R; No = L 4. Yes = R; No = L 5. No = R; Yes = L 6. Learn by imitation = R; Learn by sequence of movements = L 7. Move = R; Keep same = L 8. Yes = R; No = L 9. Algebra = L; Geometry = R

21. 21 10. Names = L; Faces = R 11. Drawing = R; Writing = L 12. Word meaning = L; Word pitch and feeling = R 13. Few gestures = L; Many gestures = R 14. Neat/organized = L; Cluttered = R 15. Main ideas = R; Specific details = L 16. Sitting = L; Lying down = R 17. Humorous = R; Well-reasoned = L 18. You can explain how you got the answer = L; You can get the answer, but not explain how = R

22. 22 Brain Teasers Complete the two brain teasers on the handout silently and independently. We will go over the answers together on the board. Good luck!

23. 23 Right and Left Brain and Business The key ingredient for Invention and Innovation is creativity. Creativity is a trait of Right Brain dominance So, Right brain thinkers might be naturally more successful as Inventors and/or innovators. Does that mean that Left Brain thinkers cannot be inventors or innovators? NO! There are ways to strengthen your right brain, including: doing brain teasers, taking a creative class (art, etc.), brainstorm, be open to big ideas, listen to others, etc.

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25. 25 The Thinking Hat Theory Have you ever heard the saying, “put on your thinking hat?” Well, this theory believes that there are 6 such “thinking hats,” or, 6 ways of thinking.

26. 26 Edward de Bono Edward de Bono is regarded by many to be the leading authority in the world in the field of creative thinking He is the originator of lateral thinking The Hats represent six thinking strategies, and if understood and applied, people could be more productive in meetings and in collaborating within groups and teams by deliberately using the approaches

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28. 28 Brains and Hats Red – emotional thinking Yellow – positive thinking White – factual thinking Black – critical thinking Green – creative thinking Blue – leadership/management

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30. 30 Reading Assignments Complete the reading assignment: Bombardier