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CREATIVITY AND INNOVATION (CREATIVITY TECHNIQUES (PROBLEM REVERSAL, FORCED…
CREATIVITY AND INNOVATION
CREATIVITY COMPONENTS
Creative thinking skills
identifies a problem and seeks its solution
identifies opportunities based on market demand, develops a new product concept, formulates a business strategy and mobilizes the required resources to undertake the project
Knowledge
Expertise or knowledge encompasses everything a person knows and can do; formal or informal education
a person must have relevant knowledge in interested area so they can focus well
Motivation
determines what people actually want and will do
Intrinsic motivation is internally driven through a person interest, desire, aspiration and passion
Extrinsic motivation can be divided into financial and non-financial motivation
Non-financial rewards can be in terms of compliments, words of encouragement, acknowledgement, peer pressure
SOURCES FOR NEW IDEAS
feedback and complaints from consumers will trigger ideas on how to fulfil the needs and want
existing products and services in the market will give new ideas to entrepreneurs to further improve and upgrade their products and services
members of distribution channels are also excellent sources of market information because of their familiarity with the needs of the market
government policy, regulation and support can be a source of new product ideas that push entrepreneurs to be innovative and creative
CREATIVITY TECHNIQUES
PROBLEM REVERSAL
FORCED ANALOGY
BRAINSTORMING
ATTRIBUTE LISTING
MIND MAPPING
LATERAL THINKING
PROCESS OF CREATIVITY
Knowledge Accumulation: study of the background for the subject matter- better understanding on the subject matter
Incubation: induced by engaging in ‘relaxing activities’- new ideas often emerge when one is busy doing something unrelated
Evaluation and Implementation: transforms the idea into a workable solution
types of INNOVATION- convert opportunities (ideas) into marketable solutions
INVENTION- creation of new product, service or process
EXTENSION- new use of an already existing PSP
DUPLICATION- creative replication of an existing concept
SYNTHESIS- combination of an existing concept and formulation
SOURCES OF INNOVATION
-unexpected events or occurrence
-new-knowledge concept
-changes of demographics
-process needs