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CH 3

This document discusses creativity, innovation, and Gujarati entrepreneurship. It defines creativity as generating new ideas or solutions, and innovation as applying new ideas. The creative process involves preparation, incubation, illumination, evaluation, and verification. Sources of innovation include unexpected occurrences, incongruities, and new knowledge. The innovation process involves understanding problems, imagining solutions, and taking action. Famous international entrepreneurs include Steve Jobs, Bill Gates, and Mark Zuckerberg. Modes of entering international markets include exporting, licensing, and joint ventures.

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84 views23 pages

CH 3

This document discusses creativity, innovation, and Gujarati entrepreneurship. It defines creativity as generating new ideas or solutions, and innovation as applying new ideas. The creative process involves preparation, incubation, illumination, evaluation, and verification. Sources of innovation include unexpected occurrences, incongruities, and new knowledge. The innovation process involves understanding problems, imagining solutions, and taking action. Famous international entrepreneurs include Steve Jobs, Bill Gates, and Mark Zuckerberg. Modes of entering international markets include exporting, licensing, and joint ventures.

Uploaded by

hetvi Tank
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CHAPTER-3

Creativity, Innovation and


Gujarati Entrepreneur
Creativity
According to Robert E. Franken,
“Creativity is defined as the direction to generate
or recognize ideas, alternatives, or possibilities that
may be useful in solving problems, communicating
with others, and entertaining ourselves and others.”
 According to Dr. Betty Edwards,
“Creativity is ability to find new solution to a
problem or new method of expression; thus it
brings into existence something new to the
individual and to the culture.
Components of creativity
 Observation :

Observation leads us to feeling curiosity towards any


environment. Be in a new environment or old,
observation can help in developing new perspectives
which can rise your imagination. Many ideas and
innovations are inspired by nature alone.
For example, Japanese engineers took inspiration from
the kingfisher bird to design Bullet trains.
 Identifying the opportunity:

 Opportunities can be identified by looking out for


possible gaps between needs and available resources.
These opportunities can be in the form of new
developments or improvement in existing resources or
technology.
Originality :
Going with the crowd is easy but carving your own
path is difficult. But do you really want to be just
part of a crowd or you want to stand apart and
shine? Producing an original idea means that you
will be there first. And whoever was first, will
always be remembered in all history to come. 
Utility :
In simple terms, utility means usefulness. Your idea
must have a use for any audience practically. It
could be a completely new component or could add
value to any existing item or service or utility.

https://www.buzzfeed.com/kaylasuazo/innovative-
products-that-are-next-level-genius
Creative process
The creative process is the evolution of an
idea into its final form through a progression
of thoughts and actions. The creative process
involves critical thinking and problem-
solving skills.
From songwriters to television producers,
creative individuals generally go through
five steps to bring their ideas to fruition—
preparation, incubation, illumination,
evaluation, and verification.
illu
Inc
min
IDEA GERMINATION PREPARATION
uba VERIFICATION

atio
tion
n
Stage 1: Idea germination
It is the first stage of a new idea
In this stage an entrepreneur recognize that an
opportunity exist in an environment.
Creative idea germinates on the basis of
needs and problems of people and according
to area of study.
Stage 2 : Preparation
With more interest and curiosity, he starts
looking for the answer to implement the idea.
Again market research is to be conducted, if
the idea is to launch a new product or service.
Market research helps an entrepreneur predict
the future of the product.
Stage 3: Incubation
It is also known as the transition period
(change of one stage or another stage)
The entrepreneur starts thinking about idea,
imaginating and thinking about idea
implementation in his sub- conscious mind.
Stage 4: Illumination
In this period of illumination the idea re-
surface in realistic way and entrepreneur
comes out a variable plan to give practical
shape by collecting raw material, arranging
funds, and policy-making for the
implementation of idea.
Stage 5: Verification
This is where the idea is verified to prove
that it has value.
This is the most difficult phase of
creativity as barrier begin to appear.
This is the developing stage in which
knowledge is developed into the
application.
Methods of enhancing Creativity
Forced association method
Checklist method
Collective notebook method
Gordon method
Single person method
Attribute listing method
Mind mapping
Innovation
Innovation refers to the ability of a person to
develop something new based on his acquired
knowledge.
here, ‘something new’ means it should be
totally different from all the other existing
things.
According to Stephen P. Robbins,
“Innovation is a new idea applied to initiating
or improving a product, process or services”
Essential elements of Innovation

Something new
Better than what exist
Economically useful
Widespread appeal
Sources of innovation
Drucker’s 7 sources of innovation:
4 areas exists within a company or industry
1. Unexpected occurrences
2. Incongruities
3. Process need
4. Industry and market change
 3 sources of opportunity exist outside a
company in its social and intellectual
environment
5. Demographic change
6. Change in perception
7. New knowledge
Innovation process
1) Understanding the problem
a. Gathering the information
 Selecting a team to identify the main problem
 Collecting facts, figures and data from
various viewpoints.
 Applying “what/when/where/who/why” to
the problem.
 Exploring external business environment for
more data and information.
 Analyzing and evaluating the problem for
selecting the best data
b. Clarifying the real problem
 Increase the awareness and clarifying the
problem
 Recognizing and enlisting the possible causes of
the problem.
 Creating alternative for the problem statements.
 Selecting the best problem statement that
represents the most real or important problem.

c. Setting innovation Goalposts


 Explore for alternative solution towards the
problem.
 Setting the goal of innovation
2) Imagination
a. Finding motive
 Exploring the business environment for
information
 Researching the past, present and future
 Discovering various perspective
 Examining and minimizing the stimuli.
b. Uncovering insight
 Using the selected motive for identifying
insight and finding.
 Making use of creative-linkages.
C. Identifying ideas
 Exploring the important insights for
potential ideas to resolve the real problem.
 Choosing best ideas based upon the pre
defined goals of innovation.
 Transforming these idea into full concept.
3) Action and implementation
a. Developing the innovative roadmap
 Transforming them into plans
 Inspecting the need, timing and
responsibilities of the resources.
 Recognizing alternative plans
 Selecting the best ideal plan based on the
goals of innovation
 Considering the impact of plan on rest of
the organization.
b. Gaining commitment
 Exploring commitment to the ideal plan
 Preparing the plan for presentation.
 Presenting the plan
 Making necessary change in the plan
 Testing the elements of the plan, if required
 Finalizing commitment towards plan.

c. Implementing the innovative roadmap


 Releasing the final plan into action
 Adjusting the plan if required
 Monitoring the whole process and result
 Sharing the result and learning
Gujarati entrepreneurship
International entrepreneurship
“When an Entrepreneur goes to other
countries to run and operate their business,
then it is known as International
Entrepreneurship. ”
These are the industries that cross the national
boundaries of their nation. These types of
Entrepreneurship include exporting of goods,
licensing as well as commencing a sales office in
other countries. Under this, an Entrepreneur
operates all the business activities out the
boundaries of the nation and it indicates the
development of the business internationally.
Famous Examples Of International
Entrepreneurs
There are many industries that have produced
numerous international entrepreneurs Coca-Cola,
Nike, MacDonald, BMW, Puma, Philips and Tata etc.
Some examples are,
Apple- Steve Jobs
Google- Larry Page and Sergey Brin
Microsoft- Bill Gates
Facebook- Mark Zukerberg
Yahoo- Jerry Yang and David Filo
Amazon- Jeff Bezos
Alibaba- Jack Ma
Tiktok- Zhang Yiming
Modes of entry to international market
Exporting
Countertrade
Licensing
Jointventures
Franchising
Outsourcing
Greenfield investments
Turnkey projects

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