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Group 5: Entrepreneurship & Innovation Take aways (meeting 4 (steps…
Group 5: Entrepreneurship & Innovation Take aways
Meeting 1: Opportunities, creativity & knowledge
No single definition of creativity
Opportunities need to be discovered
prior knowledge is important
4 component model of Amabile
5 steps of Mihaly
Innovations can be created through process of enactment
Meeting 2
Breed Myth
genetic
personaslity
Separation
suits & creatives
Business Model Innovation
Xerox Example
Dominant Logic
Great Ideas vs Mediocre Business Models
Six Steps
Leadership
Institutions & Innovation
Robust Design
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Social Embeddeness
Edison
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Meeting 3
expert & originality myth
"think outside of the box"
increase diversity
level of expertise can hinder creativity
using crowd sourcing for idea generation
Patent-"war"
patents can limit innovation
innovation to seek financial gains
stakeholder issue (financial opportunities)
meeting 4
incentives in line with intrinsic motivations
#
task conflicts
steps for innovative ideas
[brainstorming
combinations and analogies
problem formulation
meeting 5
corporate venturing
investments by established businesses into new ideas/innovations to extend knowledge base
diverse input to foster innovation/with status person
absorptive capacity needed to succesfully perform CV
9 propositions
interdependency between BS and CV
BMI as a tool to enhance BMP
lone creator myth
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Meeting 6
Effectuation and Causation (decision making approaches)
#
hand-in-hand/not mutually exclusive
Constraint Myth
Think INside the box
Constraints can be good --> creativity
4 types of constraints
Cognitive
Variability
Talent
Domain
Mouse-trap Myth
Innovation is not always accepted and given
Goes beyond vision and mission
NO big bang --> gradualPersuasion is necessary
Meeting 7
Social Entrepreneurship
3 types of entrepreneurs
Various definitions
Micro lending
Rhetoric Narrative
Ethical Issues
Warm glow
Altruism
Egoism
Social vs. Profit