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(ENT600)
UNIT 2:
CREATIVITY, INNOVATION
AND
TECHNOLOGY ENTREPRENEURSHIP
ENT600/UNIT 2: CREATIVITY
Introduction
Discovery of opportunity at the right
time and place is the corner-stone of
any entrepreneurial success
Technopreneurs need to be creative in
discovering new opportunities (in terms
of products or services) either through
invention or innovation.
Entrepreneurship Dept, FBM
(2009)
ENT600/UNIT 2: CREATIVITY
What is creativity?
Creativity can be defined as the production of
new and useful ideas as well as the ability to
discover new ways of looking at problems and
opportunities.
It is the ability to use imagination to develop
new ideas, new things or new solutions. These
generation of ideas should lead to improved
efficiency or effectiveness of a system
(Adapted from Fredrick et al., 2006 and Dorf and Byers, 2005)
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Six Resources of
Creative Team/Enterprise
1. Knowledge in the required domain and fields
i.e. in-depth knowledge of your industry.
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Six Resources of
Creative Team/Enterprise (cont.)
4. Motivation towards action
5. Opportunity-oriented personality and
openness to change.
6. Contextual understanding that supports
creativity and mitigates risks.
Entrepreneurship Dept, FBM
(2009)
ENT600/UNIT 2: CREATIVITY
Creativity Techniques
PROBLEM REVERSAL look at the opposite
of things, see things inside out, backwards or
upside down.
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Creativity Techniques
MIND MAPPING - starts in the centre of the page
with the main idea, and works outward in all
directions, producing a growing and organized
structure composed of key words and key images.
BRAINSTORMING generating ideas based on
the principle of suspending judgments.
LATERAL THINKING - exploring multiple
possibilities and approaches from different
perspective rather than pursuing in a conventional,
logical, step by step single approach. i.e. by
changing concepts and perceptions, and generating
new ones.
Entrepreneurship Dept, FBM
(2009)
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Knowledge
Knowledge refers to a confident
understanding of a subject with the ability
to use it if applicable. It encompasses
expertise, skills, familiarity and practical &
theoretical understanding of a subject.
Knowledge is gained by an individual
through study or experience
Entrepreneurship Dept,
FBM (2009)
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Motivation
Motivation is in two forms:
Extrinsic motivation
comes from outside a person, whether
the motivation is a carrot or a stick
Intrinsic motivation
a persons internal desire to do
something. Satisfaction is derived from
overcoming the challenge.
Entrepreneurship Dept, FBM
(2009)
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or
Knowledge
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Blocks to Creativity
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What is innovation?
Innovation is the specific instrument of
entrepreneurs, the means by which they exploit
change as an opportunity for a different business or
a different service (Drucker, 1985).
Innovation is the ability to apply creative solutions
to problems and opportunities to enhance or to
enrich peoples lives
Entrepreneurs innovate by converting opportunities
into marketable ideas (Kuratko, 2004).
Entrepreneurship Dept, FBM
(2009)
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INTENSITY OF
INNOVATION
Incremental Innovation
Steady improvements
Based on sustaining
technologies
Obedience to cultural routines
and norms
Can be rapidly implemented
Immediate gains
Develop customer loyalty
Radical Innovation
Fundamental rethink
Based on disruptive
technologies
Experimentation and
play/make-believe
Need to be nurtured for long
periods
Worse initial performance,
potential big gains
Create new markets
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Impact of Innovation
Intensity on the Market
RADICAL INNOVATION
High market uncertainty
High technical uncertainty
High organization uncertainty
High resource uncertainty
Entrepreneurship Dept, FBM
(2009)
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LOW
UNCERTAINTY
INCREMENTAL INNOVATION
Low market uncertainty
Low technical uncertainty
Low organization uncertainty
Low resource uncertainty
HIGH
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1830-1900
1901-1939
Cotton gin
Telegraph
Air Conditioner
Practical
Steamboat
Vulcanized Rubber
First Flight
Safety Elevator
Model T (Ford)
Internal
Combustion Engine
Liquid fueled
Rockets
Telephone
FM Radio
Phonograph
Jet Engine
Radio
Xerography
Steam powered
locomotive for
passengers and
freight
Helicopter
Entrepreneurship Dept, FBM
(2009)
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1950-1969
1970 ->
Color TV
Sputnik 1 (USSR)
Microprocessor
General Purpose,
Electronic, Digital
Computer
NASA
Recombinant DNA
Integrated Circuit
Laser Printer
Supersonic Flight
Operable Laser
MRI Scanner
Transistor
Space Shuttle
Instant Camera
Telstar Satellite
Scanning Tunneling
Microscope
Jet Airliner
Fiber Optics
Apollo lX
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Sources of Innovation
Within the company or industry
Unexpected occurrence - unexpected discovery
such as penicillin
Incongruities the gap between what is and what
should be; arise whenever a difference exists
between expectations & reality.
Process needs require entrepreneurs to innovate
and answer a particular needs such as time-saving
devices
Structural change caused by industry and market
changes due to new developments such as
advances in technology.
Entrepreneurship Dept, FBM
(2009)
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Sources of Innovation
Within the social environment
Demographic changes for example
changes in population, consumer preference
and geographical locations.
Perceptual changes perceptions can
cause mood swings and major changes in
ideas, for example fitness craze is resulted by
perceived needs to be healthy & physically fit
New knowledge the basis of development
of something brand new.
Entrepreneurship Dept, FBM
(2009)
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Ability to spot
OPPORTUNITIES
INNOVATION
SUCCESS
Entrepreneurship Dept, FBM
(2009)
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