Creativity + Barriers

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ENTREPRENEURSHIP

Lecture No: 5
Resource Person:
Malik Jawad Saboor
Assistant Professor
Department of Management Sciences
COMSATS Institute of Information Technology
Islamabad.
Previous Lecture Review

• Role of Entrepreneurs in
• Economic Development
• The Entrepreneurial Process
• Carol Moore’s Model of Entrepreneurial
Process
• The Timmon’s Model of Entrepreneurial
Process
• 10 D’s of Entrepreneurship
• 9 F’s of a successful Firm
Objectives

• Understand Difference between Creativity and


Innovation
• Understand Paradigms
• Barriers to Creativity
• How to Spur Imagination
Creativity and Innovation

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.
Entrepreneurship

• 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.
Failure: Just Part of the Creative
Process!

• 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.
Can We Learn to Be Creative?

Yes!

By overcoming paradigms and by suspending


conventional thinking long enough to consider new
and different alternatives!
Paradigm

ILLEGAL
BUSINESSMAN IMMIGRANTS

STUDENTS
Paradigm
Paradigm
Right-Brained, Creative Thinkers
• Always ask, “Is there a better way?”
• Challenge custom, routine, and tradition.
• Are reflective.
• Are prolific thinkers.
• Play mental games.
Right-Brained, Creative Thinkers
• Realize that there may be more than one
“right” answer.
• See mistakes as pit stops on the way to
success.
• See problems as springboards for new ideas.
• Relate seemingly unrelated ideas to a
problem.
• Have “helicopter skills.”
Left-Brained or Right-Brained?
• Entrepreneurship requires both left-and right-
brained thinking.
– Right-brained thinking draws on divergent
reasoning, the ability to create a multitude of
original, diverse ideas.
– Left-brained thinking counts on convergent
reasoning, the ability to evaluate multiple ideas
and to choose the the best solution to a problem.
Barriers to Creativity
• Searching for the one “right”
answer
• Focusing on “being logical”
• Blindly following the rules
• Constantly being practical
• Viewing play as frivolous
Barriers to Creativity
• Becoming overly specialized
• Avoiding ambiguity
• Fearing looking foolish
• Fearing mistakes and failure
• Believing that “I’m not creative”
Questions to Spur the Imagination

• Is there a new way to do it?


• Can you borrow or adapt it?
• Can you give it a new twist?
• Do you merely need more of the same?
• Less of the same?
Questions to Spur the Imagination

• Is there a substitute?
• Can you rearrange the parts?
• What if you do just the opposite?
• Can you combine ideas?
• Can you put it to other uses?
Questions to Spur the Imagination

• What else could you make from this?


• Are there other markets for it?
• Can you reverse it?
• Can you rearrange it?
• What idea seems impossible, but if executed
would revolutionize your business?
Lecture Review

• Understand Difference between Creativity and


Innovation
• Understand Paradigms
• Barriers to Creativity
• How to Spur Imagination

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