(P) Lesson 3: Innovation (lecture/book-based) Flashcards
it signal shifts in the current paradigm (i.e. thinking) of the major population.
Trend
Central to the domain of entrepreneurship; progenitor of both personal and societal wealth; primary challenges of entrepreneurship research
opportunity identification
2 important components of creative problem solving
creativity
Primary disadvantage of trends
Fleeting (mabilis lang)
this is any trends that pertain on the aging demographics, health and fitness growth. senior living
societal trends
this trend pertain on mobile technology, e-commerce, internet devices; there’s a lot of resources that facilitate AI
technology trend
this trend pertain to higher disposable incomes, dual wage-earner families, performance pressures; economy of a certain country
economic trends
this trend pertain to increased regulations, petroleum prices, terrorism
government trends
This refers to success or failure that often prove to be major sources of innovation
unexpected occurrences
the infamous 9/11 terrorist attack on US us a goos example of?
unexpected occurences
It refers to the gap between expectations and reality
Incongruities
it is similar to incongruities, where some entrepreneurs can improve existing products or service to become convenient; the problem here is that it stem from the indequacy
process needs
the source of innovative ideas can stem from investing in market research; can monitor and analyze the needs for market consumers; evolution of change in the market place due to consumer attitude, expectations, advancements in technology.
industry and market changes
This source of innovation refers to changes in population, size, age, education, etc.
Demographic
pertain to changes in perception of people which can occur when there’s a domination population; it implies that the needs or wants of people changes overtime; similar to trend
perceptual changes
product of new thinking; only refers to invention due to testing and multiplication; related more on researching and technical knowledge that will help in the creation of a new product or service
knowledge-based concepts
Enumerate the Creative Learning Process
Sources of Innovative Ideas
Education and Work experience
New venture actula opportunities
It requires systematic analysis to transform innovative ideas into actual practice.
creative thinking
approach or strategy that you are going to use to solve; who will decide what approach will be used to the…
process
it refers to the personnel, resources who chooses which to take to solve the problem; who will implement that will result to solving an efficient problem
people
Approaches to Creative Problem Solving:
- Employs disciplined, precise, methodical approach
- Concerned with solving, rather than finding, problems
- Attempts to refine current practices
- Tends to be means oriented
- Capable of extended detailed work
- Sensitive to group cohesion and cooperation
Adaptive entrepreneurs
Approaches to Creative Problem Solving:
- Approaches tasks from unusual angles
- Discovers problems and avenues of solutions
- Questions basic assumption related to current practices
- Interested more in ends than the means
- Little tolerance for routine work
- Has little or no need for consensus; often insensitive to others
Innovative entrepreneurs
T or F. For creativity to occur, chaos is not necessary.
F (structured and focused chaos)
What phase is this?
- investigation and information gathering
- extensive reading
- attendance at professional meetings
- conversation with experts
- general absorption of information relative to the problem
1
What phase is this?
Tutoy went to join professional groups and associations, today. And tomorrow, he weill travel to new places and devote time to pursue natural curiosities while using his notebook.
1 bano
identify what phase: creative individuals allow their subconscious to mull over tremendous amounts of information gathered; it often occurs while they are engaged in activities totally unrelated to the subject or problem.
The incubation process (2)
This phase happens even when they are sleeping.
The incubation process (2)
this process is often the most exciting; sometimes referred to as the eureka factor; this is also the one the average person incorrectly percieves as the only component of creativity
Phase 3: The idea experience
T or F. Like the incubation phase, the FIRST phase gets new and innovative ideas that often emerge while the person is busy doing something unrelated to the enterprise, venture, or investigation.
F (THIRD phase)
this phase is the most difficult phase that requires a great deal of courage, self-discipline, and perseverance; reworking of ideas to put them to their final form
Phase 4: Evaluation and Implementation
this is an old-school way to drum up creative ideas and solve problems; but by far the best;
Brainstorm
T or F. In brainstorming, you can criticize and remove the off-the wall ideas.
F (cannot criticize; welcome wall ideas)
putting two nonsensical things together to see what happens
synectics or opposite attracts
a playground where business people, entrepreneurs, and the like can go to escaped the humdrum environment of offices and can’t doers
THINKubate
who created the THINKubate
Gerald Haman
What happens when you use/look at abstract photos, inspiring quotes, uncompleted ideas, tips, and so on.
Trigger great ideas
Humor is the great way to relieve stress;
Make ‘em laugh hahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahahhahahhahahahahahhahahahahahhahahahah
In developing your creativity, dreams are a great place to start whe it comes to unleashing creativity
Remember, you wildest dreams
T or F. Either/ Or Thinking causes people often to get bogged down with striving for an unreasonable amount of certainty in their lives. But the creative person learns to accept a reasonable amount of ambiguity in his/her work and life.
T
Many people try to make the right decision oe take the correct action every time. In doing so, they rely on averages, stereotypes and probability theory to minimize their risks.
Security hunting
it’s fabricated abstractions, people act and make decisions based on them as if these were data entities that exist in the real world
stereotype
An overreliance on this decision-making method, however, can distort reality and prohibit one from taking calculated risks that may lead to creative endeavors.
probability thinking
Which of the following is not an activity to boost your creativity:
A. Synectics thinking
B. Recall your Wildest Dream
C. Sweat It
D. THINKubate
E. Practice taking small risks
E
Who suggested that there are people that often do not recognize when they are being creative; and that the path to creativity begins by first recognizing all of the ways in which we are and can be creative.
Researcher William Miller
thinking up a new idea or concept, such as an idea for a new product or service
idea creativity
inventing and building a tangible object
material creativity
process by which entrepreneurs convert opportunities (ideas) into marketable solutions
innovation
organizing people or projects and coming up with a new organizational form or approach to structuing things
organization creativity
innovative approach to achieving collab, cooperation, and win-win relationships with others.
relationship creativity
producing an event such as an awards ceremony, team outing, or annual meeting. It encompasses decor, ways in which people are involved, sequence of happenings, setting and so forth.
event creativity
being open to new approaches to how one does things and thinking about oneself in different ways; achieving a change of heart or finding new ways to look at things that is a significant departure from how one has traditionally looked at them
inner creativity
acting in a spontaneous or spur-of the moment manner, such as coming up with a witty response in a meeting
spontaneous creativity
T or F. Enterprise will have creative owners or managers for long if the right climate
is not established and nurtured.
F
Who said this? Innovation is the specific function of entrepreneurship.
Peter F. Drucker
T or F. Successful innovations use both the right and left side of their brains.
F (innovators)
T or F. Most innovations result from a conscious and purposeful search for new opportunities.
T
T or F. Successful innovations often involves more work than genius
T
T or F. Successful innovators globally work out what the innovation has to be
F (Analytically)
the creation of a new product, service or process - often one that is novel or untried; such concepts tend to be revolutionary
invention
the expansion of a product or process already in existence
extension
replication of an existing product/service
duplication
T or F. The duplication effort, however is not simply copying but adding the entrepreneur’s own creative touch to enhance or improve the concept and beat the competition.
T
combination of existing concepts and factors into a new formulation; taking a number of ideas and finding a way that they can form a new application
synthesis
principle: always active and searching for new ideas
be action oriented
principle: people must readily understand how it works
simple and understandable
principle: keeping the customer in mind; has the end user in mind
customer based
principle: do not attempt at a grandiose scale
start small
principle: helps work out any flaws in the product, process or service
try/test/revise
