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Entrepreneurship 3

The document introduces key concepts of entrepreneurship, focusing on imagination, creativity, and innovation. It distinguishes between imagination as the ability to envision ideas and creativity as the process of bringing those ideas into reality, while also discussing the importance of innovative thinking in problem-solving and business development. Additionally, it addresses common myths about innovation and outlines a structured approach to the innovation process.

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udayvirk2003
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8 views28 pages

Entrepreneurship 3

The document introduces key concepts of entrepreneurship, focusing on imagination, creativity, and innovation. It distinguishes between imagination as the ability to envision ideas and creativity as the process of bringing those ideas into reality, while also discussing the importance of innovative thinking in problem-solving and business development. Additionally, it addresses common myths about innovation and outlines a structured approach to the innovation process.

Uploaded by

udayvirk2003
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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INTRODUCTION TO

ENTREPRENEURSHIP

https://entrepreneurhandbook.co.uk/60-online-business-ideas/
Imagination, Creativity and innovation

Imagination?????

Creativity?????

Innovation?????
Imagination vs creativity

 Imagination and creativity are close to each


other but not same

 Both are different and unique skillset


Imagination vs creativity

https://www.youtube.com/watch?v=ZPUFpEbkOoc&t=3s

https://www.fastcompany.com/3031124/a-brilliantly-simple-design-transforms-old-boxes-into-school-desks-and-bags
Imagination vs creativity
 Creativity

 ability to create something real using the


imagination.

 Imagination

 capability to create in one's own mind what does not


exist
Imagination vs creativity
 Creativity vs imagination

 Creative activity aims to do something purposeful.

 The imagination is something that emerges.

 While creativity works towards products that exist in the real world and
have real-world purpose

 The product of the imagination is the "imagined object"; it is the image


itself.

 That image comes with meaning, but any purpose it contains is that
which one to rise from it as it intersects with other cognitive processes
https://www.psychologytoday.com/intl/blog/having-fun/201611/imagination-vs-creativity-close-not-
the-same
Can common man be creative….
Can common man be creative….
Creativity vs innovation
 Creativity

 ability to create something real using the


imagination.

 Innovation

 refer to something new or to a change made to an


existing product, idea, or field
Invention vs innovation

https://www.istockphoto.com/vector/stone-age-primitive-man-had-an-idea-gm512908004-87376269? https://www.istockphoto.com/photo/evolution-of-progress-gm95229522-10583176?phrase=wheel
phrase=wheel%20invention %20invention
Creativity vs innovation

https://www.istockphoto.com/vector/tire-and-rim-icons-gm167588308-17873157
https://www.youtube.com/watch?
v=OvGOUgDBvcg
Can common man be creative….

Yes……..

Its doable
SCAMPER (Bob Eberle 1971)

https://www.slideteam.net/scamper-structured-model-set-2-innovation-product-development.html

https://www.mindtools.com/ao2rt8j/scamper
Innovation???

https://www.businesstoday.in/india/story/indian-railways-to-implement-iot-based-technology-to-address-one-of-its-biggest-problems-425470-2024-04-14
Importance of creativity and innovation

 Boosts business reputation

 Source of business survival

 Spurs to entrepreneurial quality

 New ideas for competitive advantages

 Thinking of novel ways to develop your product and improve the business

 Finding similar patterns in different areas

 Creativity is problem solving


Myths about innovation

 Innovation is about the newest thing

 Innovation is a solo activity

 Innovation can’t be taught

 Innovation is top-down

 You can’t force innovation

 Innovation is not for everyone


Myths about innovation

 Game changing innovation only done by entrepreneurs

 We will win by targeting the biggest market

 Our customers will be a critical source for innovative insights

 Innovation is all about improving performance

 We will win with superior technology


Innovative thinking……

We cannot solve our problems with the same


thinking we used when we created them.

Albert Einstein
Innovative thinking……

 Innovative thinking is a creative thought process used to


generate ideas and solutions

 It is a complex task that involves finding new methods to


approach problems or procedures

 Innovative thinking produces results that change or challenge


the status quo
Innovative thinking can be enhanced….

 How do people find new and innovative ideas?

 Professor Issac Asimov once concluded in 1959 that

 One way of investigating the problem is to consider the great


ideas of the past and see just how they were generated.

https://www.forbes.com/sites/bryancollinseurope/2018/06/25/innovative-thinking/?sh=7c7bf0bc7b88
Innovative thinking can be enhanced….

 Seek Out Inspiration

 Innovative ideas often come from happy accidents

 Charles Goodyear 1839

 Vulcanizing natural rubber


Innovative thinking can be enhanced….

 Combine Similar Ideas

 Often innovative thinking comes from combining popular


ideas or products from different disciplines

 Steve Jobs 2007

 iphone
Innovative thinking can be enhanced….

 Pre-touch screen smartphone


world
 Jobs told the world he was going
to introduce three revolutionary
products:
 a widescreen iPod with
touchscreen controls,
 a mobile phone
 an internet communications
device
 Are you getting it?
 These are not three separate devices;
they are one device, and we are
calling it iPhone!
Innovative thinking can be enhanced….

 Solve a Problem

 Innovating thinking often results from considering a problem


people have, even if they don’t recognize it

 Neil and Laura Westwood 2008

 Magic whiteboard
Innovative thinking can be enhanced….

 Neil Westwood said in his


pitch

 Magic Whiteboard allows you to


create a whiteboard from a roll
anywhere it seconds... it sticks to any
hard, flat surface without the need
for tape, tack or glue...

 People use it in nurseries for


drawing on. People use it to
block out windows in some
flats and bathrooms. https://www.magicwhiteboard.com/
Innovative thinking can be enhanced….

 Putting Innovative Thinking Into Practice

 Ultimately, innovation is about drawing connections between


different ideas. You can do this as part of a group or alone.

 Assimov said, "What is needed is not only people with a good


background in a particular field, but also people capable of
making a connection between item one and item two which
might not ordinarily seem connected."
Innovation process

 Innovation step by step: Darin’s approach

 Clarifying the challenge

 Formulating the questions

 Generating the ideas

 Analyzing and synthesizing the ideas


Innovation process

 Developing the concepts

 Testing and selecting concepts

 Communicating and advancing

“Genius is one percent inspiration and ninety-nine percent perspiration.


Accordingly, a 'genius' is often merely a talented person who has done all of
his or her homework.”
Thomas Edison

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