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Week 8 Creativity and Innovation

The document discusses creativity, innovation, and entrepreneurship. It defines creativity as developing new ideas, innovation as applying creative solutions to problems, and entrepreneurship as applying creativity and innovation to opportunities in the marketplace. Various types of innovation are also described, including product, process, and organizational innovation, as well as radical versus incremental innovation.

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Shanza Aziz
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35 views30 pages

Week 8 Creativity and Innovation

The document discusses creativity, innovation, and entrepreneurship. It defines creativity as developing new ideas, innovation as applying creative solutions to problems, and entrepreneurship as applying creativity and innovation to opportunities in the marketplace. Various types of innovation are also described, including product, process, and organizational innovation, as well as radical versus incremental innovation.

Uploaded by

Shanza Aziz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Creativity and Innovation

Creativity; Past, Present & Future…..

“How Can we Know Where We’re Going Without


Knowing First Where We ‘ve Been?”
Creativity
“There is no doubt that creativity is the most
important human resource of all. Without
creativity there would be no progress, and
we would be forever repeating the same
patterns”
(Edward de Bono).
Creativity, innovation and entrepreneurs
Creativity is thinking new things, and innovation is doing new
things

 Creativity is the ability to develop new ideas and to


discover new ways of looking at problems and
opportunities.
 Innovation is the ability to apply creative solutions to those
problems and opportunities in order to enhance people’s
lives or to enrich society

Entrepreneurship = creativity + innovation


Creativity, Innovation and
Entrepreneurs
 Creativity is the ability to develop new ideas and to
discover new ways of looking at problems and
opportunities.

 Innovation is the ability to apply creative solutions to


those problems and opportunities in order to enhance
people’s lives or to enrich society.

 Entrepreneurship is the result of a disciplined,


systematic process of applying creativity and innovation
to needs and opportunities in the marketplace.
From Creativity to Entrepreneurship
Two views of Creativity

The Elite View


V’s
The Developmental View
Which View Do You
Agree With?
Components of Creativity
Stages in Creative Thought
Idea Generation

• Your Task: Generate as many ideas for a new


product or service to improve student
experience at NUST as you can in 5 minutes
http://www.testmycreativity.com/
Creativity

• It brings about
something unique!!!
Innovation
• Innovation is an act of application of new ideas to which
creates some value for the business organization,
government, and society as well. Better and smarter way of
doing anything is innovation. It could be the introduction of:
– New technology.
– New product line or segment.
– A new method of production.
– An improvement in the existing product
– Developing new markets
– Developing new supply sources
– New ways of organizing enterprises.
Distinguishing innovation from discovery
and invention
• Innovation as the implementation of a product
(a good or a service) or a new or distinctly
enhanced process, a new marketing method or
a new organizational method in corporate
practices, the organization of the workplace or
external relations.
• Discovery is the act of finding something that is
hidden. Such as the discovery of the double helix
structure of DNA by J. Watson and F. Crick in
1953 for which they were awarded the Nobel
Prize for medicine in 1962. Also, the discovery of
the giant magnetoresistance principle by the
physicists A. Fert and P. Gruenberg in 1988 for
which they received the Nobel Prize for physics in
2007. Thus, and as pointed out by the philosopher
of science M. Serres1, only things which were
already in existence but remained unknown, things
which had not yet been seen, can be discovered.
• Invention: a product made up of existing
resources combined in a new order!
– Emerged from Human mind
• An invention whose value creation has not
been demonstrated will thus never reach the
innovation stage
• Invention when reached to the level of value
creation and commercialization becomes an
innovation
TYPES OF INNOVATION
1.a. Continuum of Innovation
Imitative: copies something well-known and accepted
Incremental: small improvements; faster, better,
cheaper
Evolutionary: new to firm but not to world (i.e.,
technologies in new places)
Radical: technologies that give large performance
improvements or lower costs
Revolutionary: new to individual, firm, and the world

Best Opportunities between Incremental and Radical


Continuum of Innovation

Imitative Incremental Evolutionary Radical Revolutionary

The secret to innovation is uncovering an unmet consumer


need and the filling it in an innovative, creative way.
1.b.Typology of innovations based on
their scale gives birth to new industries
taking the lessons, skills and (or swallows existing ones) and
overall technology and applying involves creating revolutionary
them within a different market. technology.

adding new features to existing applying new technology


products or services or even or processes to current
removing features market
Typology of innovations based on their
purpose

• Product Innovation
• Service innovation
• Process innovation
– “a new or significantly improved production or delivery
method”
• Marketing innovation
– Cadbury’s famous 2007 gorilla advert
Typology of innovations based on their
purpose
• Production innovation
• Delivery innovation
• Technology innovation
• Organizational innovation
– refers to new methods in business practices,
workplace organization, and external relations.
Typology of innovations based on their
purpose
• Developmental and educational innovation
• Supply chain innovation
• Collaborative innovation
• User-driven innovation
• Open and network innovation
• Business model innovation
Case Study: TeamLab Japan video link
• https://
www.youtube.com/watch?v=7ilUiSLaJQo

• https://
www.youtube.com/watch?v=pnaoowolIsw
• https://
www.huawei.com/minisite/tech4all/en/changti
ng.html?utm_medium=psm&utm_source=corp
_facebook&utm_campaign=TECH4ALL&fbcl
id=IwAR2tkprubnGwH2imerOJuxIEJywniTR
-I8xJeyYUjlvv7rTYo97jR7CLy1I

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