W3 Flashcards
1
Q
What do Elon Musk, Steve Jobs and Marie Curie have in common?
A
Innovators, Risk Takers
2
Q
What is Technology?
A
- the application of scientific knowledge for practical purposes
3
Q
What is Disruptive Technology?
A
Disruptive technology significantly alters or replaces an existing market or industry
4
Q
Disruptive Technology Samples
A
- Smartphones replacing landlines
- Steaming services replacing DVDs
- AI-powered automation replacing manual tasks
5
Q
What is Innovation?
A
the process of improving or creating new products, services, or processes
6
Q
Principles of Innovation?
A
- Customer-focused 🤑
- Value-driven 🌟
- Iterative (continuous improvement) ⚙️
- Risk-taking and Experimentation 🔬
7
Q
Types of Innovation
A
- Product Innovation: New or Improved Products
- Process Innovation: New Methods of Production
- Model Innovation: New Ways of Delivering Value
8
Q
What is Creativity?
A
Ability to Generate New Ideas or Concepts
9
Q
Process of Creativity:
A
- Preparation (Gathering Information)
- Incubation (Thinking & Exploring)
- Illumination (Eureka Moment)
- Verification (Developing & Testing Ideas)
10
Q
Creativity Techniques & Strategies
A
- Brainstorming
- Mind Mapping
- SCAMPER
11
Q
Importance of Creativity & Innovation
A
- Drives tech advancement
- Fuels entrep
- Leads to business success
- Encourage prob solve
11
Q
SCAMPER stands for
A
Substitute
Combine
Adapt
Modify
Put to another use
Eliminate
Reverse
12
Q
Factors Affecting Creativity & Innovation
A
- Environmental: Supportive workplace/ society
- Personal: Open-mindedness, risk-taking
- Technological: Access to digital tools
13
Q
Strategies to Encourage Creativity & Innovation
A
- Growth Mindset
- Experimentation & Risk Taking
- Resources & Support
- Collaboration & Diversity
