Lec 2 Inside Entrepreneurial Mind Stud

BEN2014 Introduction to Cyberpreneurship (by: TPL)
Original Source: Zimmerer & Scarborough (Pearson)
Lecture 2: Inside the Entrepreneurial Mind –

From Ideas to Reality
Overview
1. Entrepreneurship
2. Cybrepreneurship
3. Creativity and Innovation

- Barriers to Creativity
- Tips for Enhancing Individual Creativity
- Techniques for improving the Creative Process
- Intellectual Property
1
Entrepreneurship Pg 42-43
• Entrepreneurship – the result of a disciplined,

systematic process of applying creativity and
innovation to the needs and opportunities in the
marketplace.
• Entrepreneurs connect their creative ideas with
the purposeful action and structure of a
business.
2
Cyberpreneurship
“. . . one recent form of technical entrepreneurship is using the improvements in

computer technology, especially the Internet, to conduct business, promote
business or perform the process called entrepreneurship. This whole field has
become known as cyberpreneurship,
and varies from an organization which merely promotes itself by using an

electronic brochure called a home page on the Internet, to companies and
organizations which sell their products and services through the use of
electronic mail on the Internet.”
Knight, R.M. (1996), “Cyberpreneurship or entrepreneurship on the internet”,

available at: http://ausweb.scu.edu.au/aw96/business/knight/paper.htm
3
Creativity and Innovation Pg 42-49
Creativity – the ability to develop new ideas

and to discover new ways of looking at
problems and opportunities; thinking new
things.
Innovation – the ability to apply creative

solutions to problems or opportunities to
enhance or to enrich people’s lives; doing
new things.
4
Failure: Just Part of the Creative Process! Pg 42-49
• For every 3,000 new product ideas:

– Four make it to the development stage.
– Two are actually launched.
– One becomes a success in the market.
• On average, new products account for 40
percent of companies’ sales!!
• Creativity is an important source for building a
competitive advantage.
5
Can we learn to be creative? Pg 42-49
By overcoming paradigms and by suspending conventional thinking long enough to

consider new and different alternatives!
Past Present Future
You !
Make
A
Difference
Photo Frame Digital Photo Frame

6
Source: http://www.rttg.org ; http://www.xomy.com
Barriers to Creativity Pg 51-55
• Searching for the one “right” answer

• Focusing on “being logical”
• Blindly following the rules
• Constantly being practical
7
Tips for Enhancing Individual Creativity Pg 59-61
• Allow yourself to be creative

• Give your mind fresh input every day
• Observe the products and services of other companies,
especially those in completely different markets
• Recognize the creative power of mistakes
• Keep a journal handy to record your thoughts and ideas
• Listen to other people
• Listen to customers
• Talk to a child
• Keep a toy box in your office
• Read books on stimulating creativity or take a class on creativity
• Take some time off
8
Techniques for improving the Creative Process Pg 68-72
• Brainstorming
– Goal is to create a large quantity of novel and imaginative ideas.
• Mind-mapping
– A graphical technique that encourages thinking on both sides of
the brain, visually displays relationships among ideas, and
improves the ability to see a problem from many sides.
• Rapid prototyping
– Transforming an idea into an actual model that will point out
flaws and lead to design improvements.
9
Protecting your ideas an authoritative Pg 74-79
effort to promote creativity
• Patent – a grant from the Patent and Trademark

Office to the inventor of product, giving them
exclusive right to make, use, or sell the invention
for 20 years from the date of filing the patent
application.
See: Intellectual Property Corporation of Malaysia (http://www.mipc.gov.my/)
10
Protecting Your Ideas Pg 74-79
• Trademark – any distinctive word, symbol,

design, name, logo, slogan, or trade dress a
company uses to identify the origin of a product
or to distinguish it from other goods on the
market.
• Servicemark – the same as a trademark except
that it identifies the source of a service rather
than a product.
11
Protecting Your Ideas Pg 74-79
• Copyright – an exclusive right that protects the

creators of original works of authorship such as
literary, dramatic, musical, and artistic works.
• Copyrighted material is denoted by the symbol

©.
12

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BEN2014 Introduction to Cyberpreneurship (by: TPL)

Original Source: Zimmerer & Scarborough (Pearson)

Lecture 2: Inside the Entrepreneurial Mind –

3. Creativity and Innovation

• Entrepreneurship – the result of a disciplined,

“. . . one recent form of technical entrepreneurship is using the improvements in

and varies from an organization which merely promotes itself by using an

Knight, R.M. (1996), “Cyberpreneurship or entrepreneurship on the internet”,

Creativity and Innovation Pg 42-49

Creativity – the ability to develop new ideas

Innovation – the ability to apply creative

Failure: Just Part of the Creative Process! Pg 42-49

• For every 3,000 new product ideas:

Can we learn to be creative? Pg 42-49

By overcoming paradigms and by suspending conventional thinking long enough to

Past Present Future

Photo Frame Digital Photo Frame

Barriers to Creativity Pg 51-55

• Searching for the one “right” answer

Tips for Enhancing Individual Creativity Pg 59-61

• Allow yourself to be creative

Techniques for improving the Creative Process Pg 68-72

Protecting your ideas an authoritative Pg 74-79

effort to promote creativity

• Patent – a grant from the Patent and Trademark

See: Intellectual Property Corporation of Malaysia (http://www.mipc.gov.my/)

Protecting Your Ideas Pg 74-79

• Trademark – any distinctive word, symbol,

Protecting Your Ideas Pg 74-79

• Copyright – an exclusive right that protects the

• Copyrighted material is denoted by the symbol

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