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Entrepreneurship

MPU 2222 & 3223_V2

Developing Entrepreneurial
Creativity and Innovation

Topic 3
Developing Entrepreneurial Creativity and
Innovation

• Learning Outcomes:
– What is creativity?
– The process of creativity
– Barriers to creativity
– How to generate creative ideas
– Characteristics of creative individuals
Developing Entrepreneurial Creativity and
Innovation

• Learning Outcomes: (Con’t)


– What is innovation?
• Types of Innovation
• Sources of innovation
• Barriers to innovation
– The importance of creativity and innovation
– Strategies to encourage creativity and innovation
Developing Entrepreneurial Creativity and
Innovation

• What is Creativity?

– The ability to produce work that is novel


(original/new), high in quality and
appropriate (i.e. useful) (Stemberg et. al,
2002).
Developing Entrepreneurial Creativity and
Innovation

The Process of Creativity (Creative Thinking Process)

(1) Knowledge
Accumulation

(4) Evaluation &


(2) Incubation
Implementation

(3) Ideas
Developing Entrepreneurial Creativity and
Innovation

To gather all relevant information and


investigations. Such as, reading,
discussion, seminar, and field work.

Entrepreneur try to think and solve the


identified problem. This may happen during
sleeping, relaxing, reading, playing etc.

During which the solution or answer for


the problems is finally found.

To transform the ideas to reality which


demand courage, self-regulation, high
confidence, and perseverance. After that
entrepreneur must choose the best idea to
carry out.
Developing Entrepreneurial Creativity and
Innovation

Personal Beliefs

Over- Barriers to
Management Creativity Fear of Criticism

Stress
Developing Entrepreneurial Creativity and
Innovation

If you tell yourself that: You’re not creative,


then you will believe that you’re not creative,
Personal Beliefs then there is no need to learn how to become a
creative person.

They’re afraid that people will say that their


Fear of Criticism ideas are crazy, foolish, and impractical. Thus,
they tend to act normal and follow routines.

Due to facing extraordinary demands,


constraints and are uncertain about their ability
Stress to handle it effectively. Thus, drains one’s
energy that could otherwise be used creatively.
Hectic working environment such as burdened
Over- with assignments as well as schedule and
Management demands for quick results have hampered
Developing Entrepreneurial Creativity and
Innovation

• How to Generate Creative Ideas


– Brainstorming
– Forced Analogy
– DO IT
– Mind Mapping
– Nominal Group
Developing Entrepreneurial Creativity and
Innovation

• Brainstorming
Rules of brainstorming:
• More ideas, the better
• Use other group ideas to
get more ideas.
• All ideas are welcome
• Criticism of ideas is not
allowed
Developing Entrepreneurial Creativity and
Innovation

• Forced Analogy

Kind of
relationship
can be forced
Developing Entrepreneurial Creativity and
Innovation

• DO IT
D – Define problem
O – Open mind and
apply creative
technique
I – Identify best
solution
T - Transform
Developing Entrepreneurial Creativity and
Innovation

• Mind Mapping

Use mind mapping


during:
• Brainstorming
• Taking notes
• Refreshing their
memory
Developing Entrepreneurial Creativity and
Innovation

• Nominal Group
Developing Entrepreneurial Creativity and
Innovation

• Characteristics of Creative Individuals


– Humble and proud as well

– Very passionate and objective about their work.


– Dare to try new things

– Open minded and accept criticism


– High self control
– Taking calculated risks
Developing Entrepreneurial Creativity and
Innovation

Invention:
Creating a new
product
Synthesis: Extension:
Combining separate Expansion/additi
parts into new whole Type of Innovation
formulation such as
on to existing
the Internet product lines
Duplication:
Replication of
existing product
by adding new
features.
Developing Entrepreneurial Creativity and
Innovation

• Sources of Innovation
– Unexpected Events
– New-Knowledge Concept

– Changes of Demographics
– Process needs
Developing Entrepreneurial Creativity and
Innovation

• Barriers to Innovation
– Organization does not encourage innovation
– Insufficient resources

– Traditional management behavior


Developing Entrepreneurial Creativity and
Innovation

• Importance of Creativity and Innovation


– To ensure survival
– To explore new markets

– To exploit natural resources


Developing Entrepreneurial Creativity and
Innovation

• Strategies to encourage creativity and


innovation
– Recognize own abilities
– Change perception
– Change the culture
– Dare to fail
Q&A

Thank you