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CREATIVITY ANDCREATIVITY AND
INNOVATIONINNOVATION
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CREATIVITY
Generation of new ideas
Definition:
The capability of producing new solutions in the
intellectual way to solve problem. Create a new idea, concept, or association, from
preexisting or specifically created ones.
The phenomenon whereby a person creates something
new that has some kind of value.
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Exercises on Creativity
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EEXAMPLEXAMPLE::
Challenge: Can you make this equation correct by
moving only one digit and not moving or adding
signs?
26-63=1
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EEXAMPLEXAMPLE
In the smith family, there are 7 sisters and each
sister has 1 brother. If you count Mr. Smith, how
many males are there in the Smith family.
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EEXAMPLEXAMPLE
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SOURCE OF NEW IDEA
Consumers
Existing products and services
Distribution channels
Research and development
Free thinking
Self-confidence
A plan
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IDEAS INTO OPPORTUNITIES
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IDEAS INTO OPPORTUNITIES
Idea generation
Planning and development
Identifying a viable market
Anticipating the risk
Finding the right business model Change in trend
1. Demographic trend
2. Socio-economic trend
3. Lifestyle trend
4. Technological trend
y Product development stage
y Test marketing stage
y commercialization
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A MODEL OF THE OPPORTUNITY
RECOGNITION PROCESS
EducationPrior knowledge of
marketing and customer
problems
Outcomes
Successful
opportunity
recognition
Entrepreneurial
alertness
Experience
Personal
experienceWork
experience
Networks
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CREATIVE PROBLEM SOLVING
What is creative
problem solving?
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CREATIVE PROBLEM SOLVING
It is a method for obtaining newideas focusing on the parameters.
The creative person uses information toform new ideas.
Creative problem solving is - looking at
the same thing as everyone else and thinkingsomething different.
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EXERCISE
15
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A SOLUTION
16
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CREATIVEPROBLEM SOLVING
PURPOSE:
To develop the awareness and the
skills necessary to solve problems
creatively.
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CREATIVE PROBLEM SOLVING:
TECHNIQUES
1. Heuristics,
2. Brainstorming,
3. Synectics,
4. Value Analysis
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TECHNIQUES:
BRAINSTORMING
Purpose:
To generate a large number of
ideas in a short period of time
through the spontaneous
contribution of participants.
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TECHNIQUES:
HEURISTICS(to discover")
Purpose:
Experience-based techniques forproblem solving, learning, anddiscovery. Heuristic methods areused to speed up the process offinding a good enough solution,where an exhaustive search isimpractical. Trial and error
20
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TECHNIQUES
SYNECTICS
Purpose:
It is a problem solving methodology that stimulates
thought processes of which the subject may be
unaware.
It similar to Brainstorming, where the discussionis centered around a general idea that is related
to a problem, rather than the problem itself .
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TECHNIQUES
Value Analysis
Purpose:
The efficient identification of unnecessary cost.
Value = (Performance + Capability)/Cost = Function/Cost
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INNOVATION AND ENTREPRENEURSHIP
What is INNOVATION???
Innovation:
Innovation is a process of taking new ideasto satisfied customers. It is the conversion of
new knowledge into new products and
services. "Innovation is the multi-stage process whereby organizations
transform ideas into new/improved products, service or processes, in order to advance, compete and differentiate
themselves successfully in their marketplace."[
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INNOVATION IS ABOUT
CREATING VALUE AND
INCREASING EFFICIENCY,AND
THEREFORE GROWING YOUR
BUSINESS.
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DRIVERS FOR INNOVATION
y Increased competitiony Shorter product life cycles
y Value migration
y Stricter regulation
y
Industry and community needs for sustainabledevelopment
y Increased demend for accountability
y Demographic, social and maket changes
y Rising customer expectations regarding service and
quality
y Changing economy
y Greater availability of potentially usefultechnologies coupled with a need to exceed the
competition in these technologies
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PROCESS OF INNOVATION
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PROFITS AND INNOVATION
e.g.: Maruti - Swift
P D
LXI- 5.12 5.9
VXI- 5.51 6.3
ZXI- 6.53 6.6
MARUTI SUZUKI net sales stood at Rs.9,276.7 crore
during the third quarter of 2010-11, a growth of 26.5per cent over the October-December quarter of 2009.
MSI had sold 10,18,365 cars in 2009-10, which was28.55% more than 7,92,167 units in the previousfiscal.
Maruti Suzuki Swift was awarded the Frost &Sullivan 2010 Aspirational Car of the Year Award inSegment B- rated high for its achievement in"Excellence in Technology and Innovation".
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GLOBALIZATION
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GLOBALIZATION-
1991
The removal of barriers to free trade and
the closer integration of nationaleconomies.
DEFINITION:
The process of increasing the connectivity
and interdependence of the world'smarkets and businesses.
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CONTD
The World Trade Organization is a pan-governmental entity (which currently has
144 members) that was set up to
formulate a set of rules to govern global
trade and capital flows through theprocess of member consensus, and to
supervise their member countries to
ensure that the rules are being followed.
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MODULES OF INNOVATION
Closed Innovation: e.g.: GE, Rockefeller
y Internal Technology Base
Open Innovation: e.g.: IBM, Intel, P&G, Appleand Lego
y Internal Technology Base
y External Technology Base
Intermediaries: e.g.: Nine Sigma and Your
Encore
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CLOSED INNOVATION
If I discover it, I will find a market for it
If I discover it first, I will own it
The important technologies I will need can
be anticipated in advance
The best people in this field work for us
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SOURCES AND TRANSFER OF INNOVATION
Scope Data Customer
connection
Research
Trend
analysisCompetitive
intelligence
Purchasing
scenarios
Sales data
BenchmarkingCustomer data
base
Personal
connectionObservation
and
shadowing
Quantitative
andqualitative
research
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TRANSFER OF INNOVATION
Transfer of Innovation (TOI) is designed tohelp & adapt existing innovative practice for use
in new settings, through working with
transnational partners.
1. Technology transfer
2. Knowledge transfer
3. Tools, materials, methodologies, occupational
referential or standards etc4. E.g.: Rockefeller
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INNOVATION
Why Innovate
What Innovation
How to Innovate
Who Innovates
what does Innovation really mean?
Is new packaging on an old product Innovation?
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WHYINNOVATE
"Innovation", according to Tony Blair "is
absolutely essential to safeguard and deliver
high-quality jobs, successful businesses, better
products and services for our consumers, and
new, more environmentally friendly processes. Progress
Help customers
Take advantage of opportunity
Develop the organization
Enrich employees
Achieve greater success
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WHAT INNOVATION
Innovation- REAL
Valuable
Risk
Reality Growth
Profitability
Passion
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HOW TO INNOVATE
How to Innovate step by step:
Ground work
Knowing business and targeting its goals
Pulling together the right team
Creative collaboration Sourcing new ideas and opportunities
Envisioning the Innovations potential
Getting everyone aligned for action
Marketing Refining and providing the innovations benefits
Optimizing the business model
launching the innovation in the marketplace
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WHO INNOVATES
According to dictionary INNOVATION means
"To introduce something new.
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Thank you
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