Chapter 3: Creativity

Question 1

6 myths surrounding Creativity

Answer 1

Creativity is about making great leaps of imagination

Fear forces breakthrough

Time pressure fuels creativity ( relaxed environments tend to spur creativity in the majority)

Creative people are born that way
(Creativity is a comb of knowledge, experience and even technical skill)

Analytical thought and creative thought are fundamentally different
(Creativity can be a systematic process)

Money is a Creativity motivator (may lead to unhealthy competition)

Question 2

Define Creativity

Answer 2

Creativity is described as the process of developing and implementing ideas that are both novel and useful and address a gap in the market

Question 3

Techniques of Addressing the market gap

Answer 3

Breaking: down prior assumptions and making new connections for new ideas

A strategic assessment where possible future outcomes must be predicted and all possible outcomes to be identified

Identifying the need using analytical methods to ensure precise identification of the problem or need

Transforming problems into opportunities to aid the entrepreneur in the development of a business idea

Question 4

Burkus 10 myths surrounding Creativity

Answer 4

Read on photo favorites

Question 5

Creativity barriers and solutions

Answer 5

Making assumptions

Not willing to risk

Following rules

Cultural barriers

Negative beliefs and habits

Lack of financial support

Question 6

6 Steps of Entrepreneurial creative process

Answer 6

Preparation 
Information gathering 
Idea generation 
Evaluation of ideas 
Implementation 
Experimentation

Question 7

Preparation

Answer 7

This step concentrates on analysing the problem or situation to ensure that the correct questions are being asked. During this step you need to decide on the type of business product or service you want to be involved in

Question 8

Information gathering

Answer 8

Once you know what will be done you should gather as much information about yourself and about the problem or situation that you have described in the first step. Keep a journal close by and write down thoughts feelings of things you see, things happening around you - start by writing a new idea of the day. A journal will help you structure and develop the habit of thinking of new ideas.

Question 9

Idea generation

Answer 9

At the step you need to start generating new ideas and make new connections and separate unnecessary idea. It would be important to look at a different perspective by consulting other people

Question 10

Evaluation of ideas

Answer 10

At this stage you select the best ideas you have generated. This can be done by keeping in mind your own and your organisations goals. Making a decision on the right idea. You can use different evaluation take me to select the correct idea.

Question 11

Implementation

Answer 11

At this step, the idea that you have been developing, preparing and incubating sees the light of day. Here you will plan the resources needed for your business idea.

Question 12

Experimentation

Answer 12

The step is needed to help you test out the most promising idea by creating the business and opening your doors, packaging the product and testing it on the market, developing your service and making it available to customers

Question 13

5 Sources of product/service ideas

Answer 13

Research and development: The formal department of any organisation is to generate new ideas according to the companies future plan.

Employees: companies can use the idea of their employees from executive to lower levels

Customers: customers are the best source of any product idea as they are the buying power that tailors the company’s product

Government assistance service for small businesses: the department of trade and industry.

Mass media: Internet resources and magazines and articles in the printed press.

Visit to trade shows: franchising Association of South Africa organizes an annual exhibition of different franchises that operate in South Africa

Libraries

Question 14

Methods for Generating new product ideas

Answer 14

Accumulation of knowledge
Observation
Brainstorming 
Nominal group technique 
Delphi technique

Question 15

Accumulation of knowledge

Answer 15

Involves extensive reading of magazines, newspapers, journals and books, conversations with others working in both related and unrelated fields and attending workshops and meetings. NB to investigate possible business opportunities in different geographical areas, valuable perspectives and information can be lost if the focus is restricted to a small geographical area

Question 16

Observation

Answer 16

Observe the environment around you and find a new use for something by looking at things differently by looking for gaps in the marketplace. Look for places that need specialised services

Question 17

Brainstorming

Answer 17

This involves the generation of ideas with two or more people. Whether facilitator states the objectives in a clear manner so that it can be understood by all participants. Members then freewheel as many alternatives as they can to realise the object or solve the problem. No criticism is allowed

Question 18

NOMINAL GROUP TECHNIQUE

Answer 18

This technique is used in the decision making process as a method to generate and prioritise ideas. All group members must be present and are required to operate independently. It is necessary to have paper and pens or pencils for each member, a flipchart, and marking pens. This technique could be used by on entrepreneurs to identify and evaluate business ideas by using family, relatives or any other group of people

Question 19

DELPHI TECHNIQUE

Answer 19

This technique is similar to the nominal group technique, except that the members are not required to be physically present, which makes this technique complex and time-consuming. It involves carefully designed questionnaires used in each step then data is collected at a central location, transcribed, and reproduced. This technique is rather use in existing corporations

Question 20

YOUSSRY (3) SCREENING OF IDEAS

Answer 20

Perception of Desirability: refers to the element of personal bias of the entrepreneur and entrepreneurial team about ideas perceived as more desirable

Perception of feasibility: this reflects entrepreneurs or entrepreneurial teams believes in their ability to put together the required human, social and financial resources to implement the ideas or opportunities

Propensity to act: this is the innate tendency to act on any idea or business opportunity. This may be different for the entrepreneur and the members of the entrepreneurial team