2) Inside Ent Mind ED Updated

8/13/2019 2) Inside Ent Mind ED Updated

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Inside the Entrepreneurial

Mind: From Ideas to Reality

Topic 2


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Learning Objective

Upon completion of this chapter the students will beable to

Explain the difference among creativity, innovation, and

entrepreneurship

Understand how the two hemispheres of the human brainfunction and what role they play in creativity.

Understand the mental blocks that limit individual creativity

Understand how entrepreneurs can enhance their own

creativity and that of their employees as well. Describe the steps in the creative process.

Discuss techniques for improving the creative process

Describe the protection of intellectual property involving

patents, trademarks and copyrights


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Creativity and Innovation

Creativitythinkingnew things the ability to develop new ideas and

to discover new ways of looking at problems and opportunities;

Innovationdoingnew things.

the ability to apply creative solutions to problems or opportunities toenhance or to enrich peoples lives

One of the view of entrepreneurship is the ability to createnew and usefulidea and solve problems by implementingthese ideas.

Simply having a great new ideas is not enough, transformingthe ideas into a tangible product, service or business ventureis the essential next steps.

The idea of instant photography came from a 3 years old

daughter of Edwin Land, the innovator of Polaroid camera.


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Entrepreneurship and Creativity

Managers at the Cleveland Museum used a similar kind of creativethinking to ensure the success of a dazzling exhibit of ancient Egyptian

treasures. Taking a different approach to marketing, managers held a

free private showing to the towns taxi drivers. Impress the cab drivers,

they reasoned, and the cabbies would recommend the new exhibit to

their tourist. Thats exactly what happened. During the exhibits run inCleveland, the museum enjoyed shoulder-to-shoulder attendance,

thanks to the talkative cab drivers and creative museum managers.

The Principle of an Oregon middle school solved a maintenance problem

(girls putting lipstick on and pressing their lips to the mirrors) by havingthe doorkeeper demonstrate to a group of girls how difficult it was to

clean the mirrors (by dipping a long-handled squeegee in the toilet and

cleaning one of the mirrors).


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Innovation must be a constant process because most ideasdont work and most innovations fail.

Trials and lots of errors is implanted in entrepreneurship

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% of companies

sales!!

Failure: Just Part of the Creative Process!


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Can We Learnto Be Creative?

Yes!!

The self-imposed mental constraints and other paradigm

(A preconceived idea of what the world is, what it should

be like, and how it should operate) that people tend to

build over time push creativity out of the door. Need to

suspend conventional thinking..

By overcoming paradigms and by deferring usual thinking

long enough to consider new and different alternatives!


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Left-Right Brain

Left Brain Characteristics Follows a logical pattern Is objective

Sees things as true or false, black or white

Views time chronologically, hour by hour, day by day

Seeks details

Holds short-term memory

Thinks critically, perhaps negatively, asks why?

Right Brain Characteristics Follows intuitive feeling

Creates patterns, without following a step-by-step process

Is subjective

Views time in a total sensea lifetime, a career, a project

Sees the whole rather than the details

Thinks positively, asks why not? and breaks rules


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Left-Brained or Right-Brained?

Entrepreneurship requires bothleft-and right-brained thinking. Right-brained thinking draws on different reasoning,

the ability to create a multitude of original, diverseideas.

Those who have learned to develop their right-brainedthinking skills tend to:

-challenge custom, routine, and tradition

-realize there is more than one right answer

-have helicopter skills to rise above daily routine

-ask the question, Is there a better way?

Left-brained thinking counts on convergent reasoning,the ability to evaluate multiple ideas and to choose the

best solution to a problem.


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Left-right conflict


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Rotating Wheels


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Can you count the black dots


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Impossible Object


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Whom do you see


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Barriers to Creativity

Searching for the one right answer. There may be several correct answer.

Focusing on being logical

Need to use non-logical thinking.

Blindly following the rules

Constantly being practical

Viewing play as laughing

Children learn when they play, so does the

entrepreneur.


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Barriers to Creativity

Becoming overly specialized terming problems as only marketing, or production

The roll-on deodorant came from ball-point pen

Avoiding ambiguityAmbiguity can be a powerful creative stimulus

Fearing looking foolish

Entrepreneurs are top-notch fools, because they

constantly questioning and challenging acceptedways of doing things

Fearing mistakes and failure

Believing that Im not creative


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Tips for Enhancing Organizational Creativity

Embrace diversity Expect creativity

Expect and tolerate failure

Encourage creativity

View problems as challenges

Provide creativity training

Provide support

Develop a procedure for capturing ideas

Reward creativity

Model creative behavior


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Tips for Enhancing Individual Creativity

Allow yourself to be creative Give your mind fresh input every day

Recognize the creative power of mistakes

Keep a journal handy to record your thoughts and

ideas Listen to other people

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


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The Creative Process

Preparation Investigation Transformation

Incubation Illumination Verification

Implementation


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Techniques for Improving the Creative Process

Brainstorming Goal is to create a large quantityof novel

and imaginative ideas.

Mind-mapping

A graphical technique that encouragesthinking on both sides of the brain, visuallydisplays relationships among ideas, andimproves the ability to see a problem frommany sides.

Rapid prototyping Transforming an idea into an actual model

that will point out flaws and lead to designimprovements.


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Protecting Your Ideas

Patenta grant from the Patent andTrademark Office to the inventor of

product, giving the exclusive right to make,

use, or sell the invention for 20 years fromthe date of filing the patent application.


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Trademarkany distinctive word,

symbol, design, name, logo,

slogan, or trade dress a company

uses to identify the origin of aproduct or to distinguish it from

other goods on the market.

Service markthe same as atrademark except that it identifies

the source of a service rather than

a product.


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Copyrightan exclusive right that protectsthe creators of original works of authorship

such as literary, dramatic, musical, and

artistic works. Copyrighted material is denoted by the

symbol .

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2) Inside Ent Mind ED Updated