ENTREP - UNIT 2

2. Investigation

- This step requires developing a solid understanding of the problem or situation , decision on hand. To create new ideas and concepts in a particular field , an individual first must study the problem and understand its basic components. [Steps of the Creative Process]

F

The characteristic of entrepreneurial economy is creative. [T/F]

7. Implementation

The focus of this step is to transform the idea into reality. Plenty of people come up with creative ideas for promising new products, but most never take them beyond the idea stage. What sets entrepreneurs apart is that they act on their ideas. [Steps of the Creative Process]

6. Verificaiton

Validating the idea as accurate and useful, for entrepreneurs, may include conducting experiments, running simulations, test marketing a product or service, establishing small-scale pilot programs and other activities designed to verify that the new idea will work and is practical to implement. [Steps of the Creative Process]

1. Searching for the one "right" answer - ingrained in most educational systems is the assumption that there is one "right" answer to a problem. 2. Focus on "being logical" - Logic is a valuable part of the creative process, especially when evaluating ideas and implementing them. However, in the early imaginative phases of the process, logical thinking can restrict creativity. Focusing too much effort on being logical also discourages the use of one of the mind's most powerful creations: intuition. 3. Blindly following the rules - Sometimes, creativity depends on our ability to break the existing rules so that we can see new ways of doing things. 4. Constantly being practical - Suspending practicality for a while frees the mind to consider creative solutions that otherwise might never arise. 5. Viewing play as frivolous - A playful attitude is fundamental to creative thinking.

Barriers to Creativity (10) 1-5

6. Becoming overly specialized - Creative thinkers tend to be "explorers," searching for ideas outside their areas of specialty. 7. Avoiding ambiguity - Ambiguity can be a powerful creative stimulus; it encourages us to "think something different." Avoiding it will not let us that something should be identified in a situation. 8. Fearing looking foolish - New ideas rarely are born in a conforming environment. 9. Fearing mistakes and failure - Creative people realize that trying something new often leads to failure; however, they do not see failure as an end. It represents a learning experience on the way to success. 10. Believing that "I'm not creative" - A person who believes he or she is not creative will, in all likelihood, behave that way and will make that belief come true.

Barriers to Creativity (10) 6-10

T

Breaking away from the norm can develop an effective entrepreneurial mindset. [T/F]

By overcoming paradigms and by suspending conventional thinking long enough to consider new and different alternatives, one can be creative.

Can creativity be learned?

1. Preparation 2. Investigation 3. Transformation 4. Incubation 5. Illumination 6. Verificaiton 7. Implementation

Creative Process and Techniques for Improving Steps (7)

T

Entrepreneurial society is innovative. [T/F].

F

Entrepreneurship is only for right-brained thinkers [T/F].

F

Innovation doesn't help solve problems people face everyday. [T/F].

● Is it really a better solution to a particular problem or opportunity? Sometimes an idea that appears to have a bright future in the lab or on paper dims considerably when put to the test of reality. ● Will it work? ● Is there a need for it? ● If so, what is the best application of this idea in the marketplace? ● Does this product or service idea fit into our core competencies? ● How much will it cost to produce or to provide? ● Can we sell it at a reasonable price that will produce adequate sales, profit, and return on investment for our business?

Step 6, appropriate questions to ask include the following: (7)

Brainstorming Mind-mapping Rapid prototyping

Techniques for Improving the Creative Process (3)

Entrepreneurship Entrepreneurship requires business owners to be bold enough to try their new ideas, flexible enough to throw aside those that do not work, and wise enough to learn about what will work based on their observations of what did not. Let's learn more about creativity, the creative process, and methods of enhancing creativity.

The result of applying creativity and innovation to the needs and opportunities in the marketplace in a disciplined and systematic process is called ______. It involves satisfying the needs of a customer or solving their problems by applying new ideas and new insights to create a product or a service. In order to achieve successful entrepreneurship, a consistent effort on applying creative ideas for a purpose in the marketplace should be done.

4. Incubation

The subconscious needs time to reflect on the information collected. To an observer, this phase of the creative process would be quite boring; it looks as though nothing is happening. ____ occurs while the individual is away from the problem, often engaging in some totally unrelated activity. [Steps of the Creative Process]

5. Illumination

This phase of the creative process occurs at some point during the incubation stage when a spontaneous breakthrough causes "the light bulb to go on". It takes place after five minutes or five years. In the illumination stage, all the previous stages come to produce the ''Eureka factor'' - the creation of the innovative idea. [Steps of the Creative Process]

1. Preparation

This step involves getting the mind ready for creative thinking. Preparation might include a formal education, on-the job training, work experience , and taking advantage of other learning opportunities [Steps of the Creative Process]

creativity and innovation

To create a value in the marketplace, ___ and ___ is applied to solve problems people face everyday and to give opportunities in the industry.

Creativity innovation

____________is the ability to generate something from nothing. It utilizes new ideas to discover new ways of looking at problems and opportunities. Moreover, ________ is the ability to apply creative solutions to problems or produce opportunities to enrich the lives of people. Having a great idea is not enough, thus turning the idea into a tangible product, service or business venture is the first step for an entrepreneur to succeed.

3. Transformation ● Convergent Thinking ○ The ability to see the similarities and the connections among various and often diverse data and events. ● Divergent Thinking ○ The ability to see the differences among various data and events.

involves viewing the similarities and the differences in the information collected. This phase requires two types of thinking: convergent thinking, and divergent thinking. [Steps of the Creative Process]