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Learning outcomes Explain nature of innovation Critical role of entrepreneurs in the process of innovation Link between innovation, opportunity and entrepreneurship.

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Presentation on theme: "Learning outcomes Explain nature of innovation Critical role of entrepreneurs in the process of innovation Link between innovation, opportunity and entrepreneurship."— Presentation transcript:


2 Learning outcomes Explain nature of innovation Critical role of entrepreneurs in the process of innovation Link between innovation, opportunity and entrepreneurship Opportunity can be stimulated in a systematic way Sources of opportunity Are you an innovative thinker

3 Learning outcomes Cont… Creativity & its importance Explain what makes an individual creative Relation of Creativity & logical thinking Creativity process Barriers to creativity Techniques to increase creativity Steps to become creative Creativity vs. innovation Innovation creativity & entrepreneurship

4 Creativity & Innovation Ideas Ideas + Action

5 Kantar defines Innovation as As the generation, acceptance and implementation of new Ideas, processes product and services Mintzberg defined innovation as As the mean to break away from established pattern in other words doing things in really different way Innovation

6 Cont…. Porter presents that innovation is not just a single major technological breakthrough in fact it is a accumulation of small changes in the product,services and in processes Morris and Kuratko present the list of continuum of possibilities for innovation in product/services and processes

7 Types of innovation The introduction of new or improved goods or services The introduction of new processes The opening up of new market The identification of new source of supply of raw materials. The creation of new types of industrial organization (Burns, 2007)

8 Process of Innovation (Burns, 2007)

9 Effectiveness Criteria for an Innovation process Implement a few ideas at regular intervals Ensure feedback takes place - there must be communication channels to originators. Screening system should be simple, understood by everyone Ensure the system is promoted Transform ideas into reality at a reasonable speed - if the system is too slow we may be too slow to react to the market pace and turn off idea originators. (Burns, 2007)

10 Frequent route of innovation for entrepreneurial firms Product/services development New to the market New product/service line within the company Addition in the line Improvement or revision New applications in the existing product and services Repositioning of the existing product Cost reduction for the existing products/ services Process development Major new processes Minor new processes Significant revision to existing processes Modest improvement to existing process (Burns, 2007)

11 Innovation Model

12 What is Creativity New ways of doing things The ability or quality displayed when solving hitherto unsolved problem (parkhurst 1999) Help in innovation To do things differently (Burns, 2007)

13 Definition Creativity is a mental process involving the discovery of new ideas or concepts, or new associations of the existing ideas or concepts, fueled by the process of either conscious or unconscious insight (Burns, 2007)

14 Creativity is at core of any true entrepreneur. it is important in coming up with completely new ways of doing things, rather than looking for adaptive, incremental change. Parkhurst (1999) defined: It as the ability or quality displayed when solving hitherto unsolved problems, when developing original and novel (at least to its originator).

15 Characteristics of the creative personality Creative individuals have a great deal of energy, but they are also often quiet and at rest. Creative individuals tend to be smart, yet also naive at the same time. Creative individuals have a combination of playfulness and discipline, or responsibility and irresponsibility. Creative individuals alternate between imagination and fantasy ant one end, and rooted sense of reality at the other. Creative people seem to harbor opposite tendencies on the continuum between extroversion and introversion. Creative individuals are also remarkable humble and proud at the same time. Creative individuals to a certain extent escape rigid gender role stereotyping and have a tendency toward androgyny. Generally, creative people are thought to be rebellious and independent. Most creative persons are very passionate about their work, yet they can be extremely objective about it as well. The openness and sensitivity of creative individuals often exposes them to suffering pain yet also a great deal of enjoyment (Burns, 2007)


17 Creative process 1.Generating knowledge and awareness A prerequisite to all creative processes is the generation of awareness of different ideas and ways of doing things through reading and traveling widely, talking with different people with different views about the world. 2.Incubation process This incubation period happens when people are engaged in other activities (the best are those instinctive activities that do not require left brain dominance) and they can left their subconscious mind work on the problem. (Burns, 2007)

18 Creative process 3. Generating ideas Ideas can come unexpectedly during the incubation period, but often they need encouragement. There are a number of techniques to encourage idea generation. 4. Evaluation and implementation The Explorer: Searching for new insights and perspective by shifting through information, being curious, observing other fields, generating ideas, broadening perspective, following unexpected leads, using difficulties and obstacles and constantly writing things down. (Burns, 2007)

19 Wallis Model of the Creative Process: Preparation Incubation Illumination Verification (Burns, 2007)

20 Preparation Stage Define the problem, need, or desire, and gather any information the solution or response needs to encompass. Set up criteria for verifying the solution's acceptability. This can take minutes, hours, days, weeks, months, even years. (Burns, 2007)

21 Incubation Stage Step back from the problem and let our minds contemplate and work it through. As with preparation, incubation can last various lengths of time. (Burns, 2007)

22 Illumination Stage Ideas arise from the mind to provide the basis of a creative response. These ideas can be pieces of the whole or the whole itself. Illumination is often very brief, involving a tremendous rush of insights within a few minutes or hours. (Burns, 2007)

23 Verification Stage Demonstrate whether or not what emerged in illumination satisfies the need and the criteria defined in the preparation stage. (Burns, 2007)

24 Techniques to enhance creativity  Brainstorming  Analogy  Attribute analysis  Gap analysis  Encouraging creativity (Burns, 2007)

25 Barriers to creativity  The fallacy that there is only one correct solution to a problem  The fallacy that logical is important in creativity  The tendency to be a practical  The tendency to follow established rules unquestioningly.  The tendency to assign blame for failure  The unwillingness to recognize the creativity power of play  The tendency to think too narrowly & with too much focus  The unwillingness to think unconventionally because of the fear of appearing foolish  The lack of belief that you can be creative (Burns, 2007)

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