Creativity & management of innovation

See this figure?

Divide the figure below into as many pieces as you can by making four straight cuts with a long knife

2 Dimensions=11

Cuts and pieces

Creativity is defined as the

production of new and useful ideas

concerning products, services,

processes and procedures by

individuals or small groups of

persons working together.

Creativity in entrepreneurship

include being independent and

spontaneous and processing a

problem solving attitude.

Creativity

Read aloud the following colors as fast as you can:

Now quickly read aloud the colors of the following words ... not the words themselves, but the colors in which the words

are shown:<

red green blue orange

black blueyellow grayred pink

Innovation

Innovation is introduction of a new idea into the marketplace in the form of a new product or service or new market or an improvement in organization or process.

Ideas have little value unless they are converted into useful product and services

Characteristics Of Innovation Innovation leads to changes Result of a thoughtful plan Can bring complete revolution or an extension to

existing products Provide unique identity to a business Innovation are action oriented and result oriented Help in making products and processes simple to

understand Innovation involve continuous experimentation

and testing.

Why creativity & innovation The highly competitive nature of today’s business

needs creative and innovative ideas for dominant success. Although good service is the essence of a successful business (in long term), novel ideas are jumping advancements; thus, a company has no chance to win this competitive game in the absence of creativity and innovation.

DO IT is a process for creativity

D - Define problem

O - Open mind and apply creative techniques

I - Identify best solution

T - Transform

Are you seeing or is your brain deciding what you should see?

Read the following paragraph."Aoccdrnig to rscheearch at Cmabridge Uinvervtisy, it

deosn’t mttaer in waht oredr the litteers in a wrod are, the olny iprmoetnt tihng is taht the frist and lsat ltteer be at the rghit pclae.  The rset can be a ttoal mses and you can sitll raed it wouthit a porbelm.  Tihs is besauae ocne we laren how to raed we bgien to aargnre the lteerts in our mnid to see waht we epxcet to see.  The huamn mnid deos not raed ervey lteter by istlef, but preecsievs the wrod as a wlohe.  We do tihs ucnsoniuscoly wuithot tuhoght."

Components of Creativity Intrinsic Motivation

• Intrinsic motivation refers to motivation that comes from inside an individual rather than from any external or outside rewards, such as money or grades.

• The motivation comes from the pleasure one gets from the task itself or from the sense of satisfaction in completing or even working on a task.

• An intrinsically motivated person will work on a math equation, for example, because it is enjoyable.

• Intrinsic motivation facilitates creativity and academic performance, whereas extrinsic motivation hinders creativity but has no effect on academic performance.

Skills in task• A developed talent or ability: writing skills. • Knowledge of the problem• technical skill required in solving it

Skill in Creative thinking – • refers to the ability to form new combinations of

ideas to fulfill a need, or to get original or otherwise appropriate results by the criteria of the domain in question.

• To hold as an opinion; believe; suppose• To anticipate or expect• To make a mental discovery

Creative People in Organization This creative group is divided to two different

groups namely initiators and problem solvers. A person who initiates a course of action A person who start working when problem arises

Creative people can be said to have :• A particular Style • Originality• Experience • Determination Flexibility• Positive outlook

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Two types of innovation Incremental Innovation:

• Incremental innovation is generally exploiting existing ideas , like Pentium Dual Core shows and incremental on Pentium IV.

Radical Innovation:• Radical Innovation is like finding a commodity ,

something new to world like the transistors , these generally require R&D and take a lot of time.

The “Fastskin” Swimsuit

Speedo LZR, 2008• Make no waves• Reduces drag• Preferred by most Olympians today

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Examples

• Innovation?• Incremental / radical innovation

The Digital Camera

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Examples

• Innovation?• Incremental / radical

innovation

iPod by Apple

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Examples

• Why has it been so successful?

• Is your answer any different now than it was on the first day?

• Innovation?• Incremental / radical

innovation

iTunes by Apple

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Examples

• Innovation?• Incremental / radical innovation

Where do innovative ideas come from?

Unsatisfied customers. Demographic changes in society. Market changes Knowledge based concepts Research and Development. Problem solving.

Innovation in Automobile industry Automobile industry is one of the most

competitive industry , which has to innovate much in its R&D .

TATA created a revolution with the Nano , the worlds cheapest car.

Mahindra and Mahindra, which was mostly known only for tractors , had to come up with the Scorpio and Scooter that changed the way people looked at M & M.

Can you improve your creativity? Yes! How? Gather as much information as you can (read, talk with

experts, etc.) and brainstorm. Just think about the problem or issue until an idea

comes to you. Is the solution reasonable? If so, try it. If not, keep thinking. If you tried out an idea, did it work? If so, great! If not, begin the process over again. Do

not put barriers on your mind. Put these steps to use.

Lateral Thinking

Lateral thinking is a term coined by Edward de Bono in the book New Think: The Use of Lateral Thinking published in 1967; it refers to solving problems through an indirect and creative approach.

Lateral thinking is about reasoning that is not immediately obvious and about ideas that may not be obtainable by using only traditional step-by-step logic.

Problem

A man walks into a bar and asks the barman for a glass of water. The barman pulls out a gun and points it at the man. The man says 'Thank you' and walks out.

Solution

The man had hiccups. The barman recognized this from his

speech and drew the gun to give him a shock.

It worked and cured the hiccups - so the man no longer needed the water.