Entrepreneurship and Small Business Paul Burns Chapter 3 Opportunity and innovation

Back to Contents Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001

Are you an innovative thinker?

Change agent Consolidator Harmoniser Firefighter Cooperator Catalyst Incremental innovator Spice-of-life Middle-of-the-road
Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001

Are you an innovative thinker?

Innovative thinkers

Motivation to change Willingness to behave in challenging ways Willingness to adapt and use tried and tested ways Consistency of working style which indicates orderliness and efficiency
Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001

Creative v logical thinking

Creative Seeks questions Diverges Explores different views Restructures Seeks ways an idea might help Welcomes discontinuous leaps Welcomes chance intrusions Open ended Logical Seeks answers Converges Asserts best or right view Uses existing structure Says when an idea will not work Uses logical steps Focuses on what is relevant
Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001

Closed

Innovation and entrepreneurship

Entrepreneurship
Low High

High

STRUGGLER

INNOVATOR

Innovation/ Creativity
Low

STAGNATOR

COPIER

Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001

Schumpters innovations
Introduction of a new or improved good Introduction of a new process Opening of a new market Identification of a new source of supply of raw materials Creation of new types of industrial organisation

Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001

Druckers sources of opportunity

The unexpected The incongruity The inadequacy in underlying processes The changes in industry or market structure PLUS Demographic changes Changes in perception, mood or meaning New knowledge
Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001

Druckers 5-stage approach to innovation

Analyse opportunities, internal and external. Innovate for NOW timing is everything Innovation is conceptual and perceptual, so look at financial implications and analyse whether it meets the opportunity Keep innovation simple KISS! Start small, take an incremental approach Aim at leadership and dominate the competition as soon as possible

Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001

Innovation
Innovation is a mould-breaking development in new products or services or how they are produced materials used, the process employed or how the firm is organised to deliver them or how or to whom they are marketed, that can be linked to a commercial opportunity and successfully exploited
Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001

Factors influencing small firms growth

Shift from manufacturing to service Deconstruction of large firms Growth of subcontracting Technology Social trends Economic trends

Paul Burns, Entrepreneurship and Small Business, Palgrave, 2001