Creativity, Innovation and Entrepreneurship

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Questions and Answers

Which of the following best describes creativity?

  • The implementation of existing strategies without deviation.
  • The act of copying existing ideas to improve efficiency.
  • The ability to develop new ideas, bring old ideas to new contexts, or discover new perspectives on problems. (correct)
  • The process of strictly adhering to established norms and conventions.

According to Jacques Maximin, what is a key characteristic of creativity?

  • Following convention
  • Copying
  • Originality (correct)
  • Efficiency

According to Michele & Robert Root-Bernstein, creativity can best be described as:

  • Effective novelty (correct)
  • Consistent replication
  • Predictable outcomes
  • Strict adherence to convention

According to Kenneth Heilman, what is a key element of creativity?

<p>Coming up with something new by letting go of convention. (B)</p> Signup and view all the answers

According to Dr. John Kounios, what does creativity involve?

<p>Restructuring one's understanding of a situation in a non-obvious way. (A)</p> Signup and view all the answers

What is implied about the definition of creativity?

<p>There is no single, authoritative perspective or definition of creativity. (D)</p> Signup and view all the answers

What is the relationship between creativity and innovation?

<p>Innovation is the implementation of creativity. (D)</p> Signup and view all the answers

Which of the following is the best description of 'anatomy of an entrepreneur' as described in the material?

<p>A balance of passion, knowledge and fire. (C)</p> Signup and view all the answers

According to the content, what is the result of creativity plus implementation?

<p>Innovation (A)</p> Signup and view all the answers

What does 'Innovation is about finding what people NEED, not what they say they WANT' imply for product development?

<p>Conduct thorough research to uncover latent, unarticulated needs. (C)</p> Signup and view all the answers

In the context of WD-40's product development, why was creating 40 different versions of the product considered innovative work?

<p>It was necessary to find the version that effectively addressed the problem. (A)</p> Signup and view all the answers

According to the material, what is entrepreneurship?

<p>The result of a process that apply both creativity and innovation. (A)</p> Signup and view all the answers

In the context of innovation, what role do constraints play?

<p>Constraints are inevitable and helpful. (D)</p> Signup and view all the answers

What is the difference between 'mythical constraints' and actual constraints?

<p>Mythical constraints are constraints that are not really there. (C)</p> Signup and view all the answers

What does the statement 'Innovation is not about ideas...it's about making ideas happen' suggest about the innovation process?

<p>Implementation and execution are more critical to innovation than ideation. (A)</p> Signup and view all the answers

What does 'routine work' seek to avoid?

<p>Variance and the possibility of failure (A)</p> Signup and view all the answers

When is innovative work most appropriate?

<p>When a company is designing a new product. (D)</p> Signup and view all the answers

When is routine work more desired than innovative work?

<p>A product has become commercially successful. (D)</p> Signup and view all the answers

What is implied to be true of innovation?

<p>Innovation requires a different logic than routine work does. (A)</p> Signup and view all the answers

What does the example of WD-40 illustrate about the relationship between innovative work and commercial success?

<p>Innovative work is most appropriate pre-launch but is often replaced by routine work after a product has achieved a level of commerical success. (D)</p> Signup and view all the answers

How does the concept of 'constraints' relate to innovation and creativity?

<p>Constraints can actually drive innovation by forcing creative problem-solving. (D)</p> Signup and view all the answers

Which of the following is an example of 'mythical constraints' in a business scenario?

<p>A startup assuming they cannot compete with larger companies due to limited resources, without exploring creative strategies. (C)</p> Signup and view all the answers

Which of the following best describes the concept of entrepreneurship?

<p>The process of applying both creativity and innovation to exploit unexploited opportunities. (B)</p> Signup and view all the answers

In the ice breaking section, various topics are stated. Which of the following topics is included?

<p>Hobbies. (C)</p> Signup and view all the answers

What does the quote by Henry Ford suggest about overcoming challenges in innovation?

<p>Opposition can be a necessary condition for progress and growth. (B)</p> Signup and view all the answers

What is implied by IDEO generating 4,000 ideas in one year but only achieving 2 or 3 commercial successes?

<p>Only a small fraction of ideas translate into successful products. (C)</p> Signup and view all the answers

What should the balance between routine vs innovative work be?

<p>It will vary depending on the situation. (B)</p> Signup and view all the answers

What's a key purpose of 'ice breaking' activities in a team or class setting?

<p>To facilitate introductions and build a foundation for future interactions. (B)</p> Signup and view all the answers

How does understanding both 'innovative work' and 'routine work' contribute to a company's strategic advantage?

<p>By enabling the company to efficiently allocate resources based on the product lifecycle. (B)</p> Signup and view all the answers

Flashcards

What is Creativity?

The ability to develop new ideas, bring old ideas to new products, people, and places, or discover new ways of looking at problems and opportunities.

What is Innovation?

The implementation of creativity to develop unique ideas.

What is Entrepreneurship?

A process applying both creativity and innovation to exploit unexploited opportunities by enterprising individuals.

Thinking of something new?

The act of thinking of something new.

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Creativity Definition?

Effective novelty.

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Creativity Definition?

Coming up with something new by letting go of convention.

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Creativity Definition?

The ability to restructure one's understanding of a situation in a non-obvious way.

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What is Innovation?

Implementation of creativity to develop unique ideas.

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Mythical Constraints?

Constraints that are not real.

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Routine Work

Work done without variance to reduce failure possibility.

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Innovative Work

Work done with increased variance; failure is expected.

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Innovation definition.

Implementation of creativity to develop unique ideas.

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Study Notes

Introduction to Creativity, Innovation, and Entrepreneurship

  • Creativity involves developing new ideas or bringing old ideas to new contexts
  • Creativity can be discovering new ways of looking at problems and opportunities
  • Creativity emphasizes thinking of something new
  • Creativity involves not copying
  • Creativity is defined as effective novelty
  • Creativity is coming up with something new by abandoning convention
  • Creativity means restructuring one's understanding of a situation in a non-obvious way
  • Unlike many phenomena in science, there is no single, authoritative definition of science

Innovation

  • Innovation is the implementation of creativity to develop unique ideas
  • Innovation is an implementation of creativity to develop unique ideas
  • Innovation is a systematic approach to figuring out the exact problem
  • It needs to be addressed to enhance people's lives
  • Innovation produces economic value through the commercialization of new technologies
  • Creativity plus implementation equals innovation
  • Innovation is about making ideas happen, not just having them
  • Constraints are sometimes helpful, and even inevitable
  • Innovation requires finding what people need, instead of focusing on what people want

Entrepreneurship

  • Entrepreneurship is a process that applies both creativity and innovation
  • Entrepreneurship identifies and exploits previously unexploited opportunities via enterprising individuals (entrepreneurs)
  • The nexus of enterprising individuals and promising opportunities is a part of entrepreneurship

Routine Work vs. Innovative Work

  • Routine Work is done without variance to reduce the possibility of failure
  • Innovative Work is done with more variance, and failure is expected

WD-40 Example

  • The name WD-40 came about because there were 39 failed versions of the product
  • Creating 40 versions of the product is an example of innovative work
  • Now that the product is successful, the company focuses on routine work
  • It is important that the product is the same every time someone uses it, so variance is discouraged

IDEO Example

  • IDEO is one of the most successful design and innovation firms
  • IDEO Headquarters are in Palo Alto, California
  • During One Year at IDEO:
    • 4,000 Ideas were generated
    • 226 Prototypes were Developed
    • 12 Products were Sold
    • 2 or 3 Commercial Successes were achieved

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