(P) Chapter 5. Innovation: The Creative Pursuit of Ideas Flashcards by Denica Shealtiel Enage

Q

Sources of Innovative Ideas

Signals shifts in the current population paradigm
Entities that grab the public’s attention

A

Trends

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Q

Sources of Innovative Ideas

Unplanned events of either success or failure
An avenue for new services or products to alleviate the feelings of dissatisfaction

A

Unexpected Occurrences

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Q

Sources of Innovative Ideas

Gap between expectation and reality
When products don’t deliver their promised level of quality
An inspiration for other companies to provide that level or even higher in their services/products

A

Incongruities

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Q

Sources of Innovative Ideas

Stems from the inadequacy of current processes
Companies are able to deliver the promised quality but that is where their limit is reached (people want more innovations)
Other competitors can provide a higher level of service quality than the previously mentioned company

A

Process Needs

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Q

Sources of Innovative Ideas

Continuous shifts in the marketplace

A

Industry and Market Changes

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Q

Sources of Innovative Ideas

Changes in population size, composition, lifestyle, occupation, etc. (e.g OFWs and the migration of Ukrainians due to the Russian war)

A

Demographic Changes

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Q

Sources of Innovative Ideas

Occurs when a new generation dominates the population
The new generation is the new market
The old generation’s preferences will start to become obsolete

A

Perpetual Changes

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Q

Sources of Innovative Ideas

Inventions that take time to produce due to testing and modifications
Inventions still undergoing developments despite being in the market already (e.g. COVID vaccine development in less than a year)

A

Knowledge-based Concepts

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Q

This requires systematic analysis to transform innovative ideas into actual practice

A

Creative Thinking

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Q

What constitutes new venture/actual opportunities?

A

Unusual sources of innovative ideas +

General Industry Knowledge
Prior Market Knowledge
Specific Interest Knowledge
Previous Knowledge from Education or Work Experience

= new venture / actual opportunities

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Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Disciplined and methodical approaches

A

AE

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Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Solves problems as they arise but doesn’t explore further

A

AE

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Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Refines current practices

A

AE

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Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Means-oriented (finds the most effective solution)

A

AE

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Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Can work for extended periods of time

A

AE

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Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Sensitive to group cohesion and cooperation

A

AE

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Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Uses unusual angles to develop their own approach

A

IE

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Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Discovers problems and predicts potential issues that could later on evolve

A

IE

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Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Questions assumptions about current practices to come up with new strategies

A

IE

Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

More interested in ends (focuses on the solution/goal–may not use the most efficient method)

A

IE

Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Little tolerance for routine work

A

IE

Q

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

Adaptive Entrepreneurs (AE) or Innovative Entrepreneurs (IE)?

A

IE

Q

Two important components of Creative Problem Solving

A

Process
People

Q

What are the four phases of the creative process?

A

(1) Background/Knowledge Accumulation
(2) Incubation Process
(3) Idea Experience
(4) Evaluation and Implementation

Creative process Investigation and information gathering to supplement the idea A creative search for background knowledge

Background/Knowledge Accumulation

Creative process Allow the subconscious to process information

Incubation Process

Creative process The moment when the solution o r breakthrough is discovered. The “eureka” moment Often happens while doing an unrelated activity

The Idea Experience

Creative process o The most difficult phase because it required great deal of courage, self-discipline and perseverance to accomplish o Successful entrepreneurs can identify ideas that are workable and which they have the skills to implement

Evaluation & Implementation

Activities of which creative process are these referring to?  Read variety of fields  Join professional groups and associations  Attend professional meetings ad seminars  Travel to new places  Talk to people about your subject  Develop a subject library for future reference  Carry a small notebook and take notes  Take time to pursue natural curiosities

Background or Knowledge Accumulation

Activities of which creative process are these referring to?  Engage in routine “mindless” activities (doing chores, engaging in a hobby, etc)  Exercise regularly  Play (sports, board games, puzzles)  Think about the project or problem before falling asleep  Meditate or practice self-hypnosis  Sit back and relax on a natural basis

The Incubation Process

Activities of which creative process are these referring to?  Daydream and fantasize about your project  Practice your hobbies  Work in a leisurely environment (home, coffeeshop, etc.)  Put the problem back in the burner  Keep a notebook to record ideas  Take breaks while working

The Idea Experience

Activities of which creative process are these referring to?  Increase your energy with proper exercise, diet, and rest  Educate yourself in the business planning process and all facets of business  Test your ideas with knowledgeable people  Take notice of your intuitive hunches and feelings  Educate yourself in the selling process  Learn about organizational policies and practices  Seek advice (from friends, experts, etc.)  View problems you encounter as challenges

Evaluation & Implementation

Three ways to develop your creativity

(1) Recognizing Relationships (2) Developing a Functional Perspective (3) Using Your Brains

Eliminating Muddling Mind-sets Black or white thinking There are actually many shades Be flexible and open to alternatives Avoid “win or lose” thinking–envision a “win-win” scenario

Either/Or thinking

Eliminating Muddling Mind-sets The need to be in control It limits creativity and growth Avoid playing it safe–be adventurous and take risks

Security Hunting

Eliminating Muddling Mind-sets Always putting entities in a box; generalizing You miss out on hidden potentials

Stereotyping

Eliminating Muddling Mind-sets Averages and depends on events many times to predict the future Expect what is least expected to manifest creativity

Probability Thinking

Members of a team spontaneously come up with much ideas as possible

Brainstorm

Recognizing relationships and make functional thinking

Synetics Thinking

Facilities that help the personnel to process the information

THINKubate

Socialize other people and work in a team

Connect

give a chance for people to experiment and analyze why their projects failed; do not punish them

Celebrate failure

inject humor in decision-making

Make them laugh

implement health and fitness facilities

Sweat it out

embrace unconventionality

Recall the wildest dream