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Lecture 4

The document discusses creativity, innovation, and the creative process. It states that creativity involves developing new ideas while innovation applies creative solutions to problems. The creative process involves 7 steps - preparation, investigation, transformation, incubation, illumination, verification, and implementation. Entrepreneurs succeed by thinking and doing new things through a disciplined, systematic process of applying creativity and innovation.

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Raheel Mansoor
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30 views

Lecture 4

The document discusses creativity, innovation, and the creative process. It states that creativity involves developing new ideas while innovation applies creative solutions to problems. The creative process involves 7 steps - preparation, investigation, transformation, incubation, illumination, verification, and implementation. Entrepreneurs succeed by thinking and doing new things through a disciplined, systematic process of applying creativity and innovation.

Uploaded by

Raheel Mansoor
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Creativity And Innovation

 Creativity is the ability to develop new idea and to discover new ways
of looking at problem.
 Innovation is the ability to apply creative solutions to those problems
and opportunities to enhance or enrich people’s live.
 Creativity is thinking new things and innovation is doing new things.
 Entrepreneurs succeed by thinking and doing new things or old things
in new ways.
 Management legend peter Drucker says “innovation is the specific
instrument of entrepreneurs the means by which they exploit change as
an opportunity for a different business or different service”
Creativity And Innovation
 Entrepreneur is the result of disciplined, systematic process of
applying creativity and innovation to needs and opportunities in the
market place.
 It involves applying focused strategies to new ideas and new insights to
create a product or a service that satisfies customer’s needs or solves
their problems.
The Creative Process
 It involves seven steps
 Preparation
 This step involves getting the mind ready for creative thinking
 It includes formal education, on the job training, work experience and
taking advantage of other learning opportunities.
 Adopt the attitude of a lifelong student, realize that educating yourself is a
never ending process
 Look at every situation you encounter as an opportunity to learn
 Invest time in studying other countries and cultures
 Develop listening skills its amazing what you can learn if you take the
time to listen to other people
The Creative Process
 Investigation
 This step requires developing a solid understanding of the problem,
situation, decision at hand.
 To create new ideas and concepts in a particular field, an individual
first study the problem and understand the basic components.
 creative thinking comes about when people make careful observations
of the world around them and then investigate the way things work or
fail to work.
The Creative Process

 Transformation
 It involves viewing the similarities and the differences in the
information collected. This requires two types of thinking
 Convergent Thinking is the ability to see the similarities and the
connections among various data and events.
 Divergent Thinking is the ability to see the differences among various data
and events.
 Incubation
 Dream about the problem or opportunity
 Means to think about an issue or a project you want to to start
 Work on the problem casually
The Creative Process

 Illumination
 To enlighten intellectually
 Striking of idea during incubation stage

 Verification
 Validating the idea as accurate and useful for entrepreneur may include
conducting experiments, running simulation, test marketing , establishing
pilot programs and many other activities designed to verify that new idea
will practically work
 The goal is to subject the innovative idea to the test. That will it work, is
there any need for it.
The Creative Process

 Implementation
 The focus of this step is to transform the idea to reality.
 Plenty of people come up with creative ideas for promising new
products r services
 What sets entrepreneur apart is that they act on their ideas.

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