Creativity And Innovation In Business NSD31603 PDF

Creativity and Innovation in Business NSD31603 Entrepreneurship in Nursing Lets start our class today with a story https://www.youtube.com/watch?v=i9UYbJ2xMTI  Learning Outcomes 1. Understand the concept of creativity and i...

Creativity and Innovation in Business NSD31603 Entrepreneurship in Nursing Lets start our class today with a story https://www.youtube.com/watch?v=i9UYbJ2xMTI  Learning Outcomes 1. Understand the concept of creativity and innovation in entrepreneurship. 2. Explain the design thinking process in generating business ideas. 3. Apply the suitable technique to develop business ideas.  Introduction and definition Important aspect in entrepreneurship - ability to create new and useful ideas that solve the problems and challenges. Successful entrepreneurs - creating value in the marketplace, combine resources in new and different ways to gain a competitive edge over rivals. This involves creativity and innovation. Creativity - ability to develop new ideas and to discover new ways of looking at problems and opportunities (thinking new things). Innovation is the ability to apply creative solutions to those problems and opportunities to enhance people’s lives (doing new things). Entrepreneurs succeed by thinking and doing new things or old things in new ways. Simply having a great new idea is not enough; transforming the idea into a tangible product, service, or business venture is the essential next step. Enablers of SME innovation: 1. Passion 2. Customer connection – understand their needs and problems. 3. Agility and adaptation – adapt and adjust. 4. Experimentation and improvisation – failure is stepping stone to success. 5. Resource limitations – try doing more with less.  Innovation Innovations can be: Reactive in response to customer feedback or changing market conditions. Proactive in response to new opportunities on which to capitalize. Revolutionary creating market-changing, disruptive breakthroughs that are the result of generating something from nothing. Evolutionary, developing market-sustaining ideas that elaborate on existing products, processes, and services. Putting old things together in new ways or from taking something away to create something simpler or better.  Creativity, Innovation & Entrepreneurship Entrepreneurship is the result of a disciplined, systematic process of applying creativity and innovation to needs and opportunities in the marketplace. It involves applying focused strategies to new ideas and new insights to create a product or a service that satisfies customers’ needs or solves their problems. Successful entrepreneurship is a constant process that relies on creativity, innovation, and application in the marketplace. Business owners to be bold enough to try their new ideas and flexible enough to throw aside those that do not work.  The Creative Process The seven steps: 1. Preparation – formal education, on-the-job training, work experience, and other learning opportunities. 2. Investigation - develop a solid understanding of the problem, situation, or decision at hand. 3. Transformation - viewing the similarities and the differences among the information collected. 4. Incubation - away from the problem, often engaging in some totally unrelated activity. 5. Illumination - a spontaneous breakthrough causes “the light bulb to go on.” 6. Verification - validating an idea as realistic and useful may include conducting experiments, running simulations, test-marketing a product or building prototypes. 7. Implementation - transform the idea into reality. Creativity Component Expertise (People who aren’t any good at physics rarely come up with relativity theory.) Creative thinking skills (Are you even trying to think outside the box?) Motivation (Personal interest like curiosity beats monetary bonuses.) How business ideas being created? https://www.youtube.com/watch?v=mtn31hh6kU4 Idea Generation Involves the process of observing, thinking (analyzing), communicating (discussing) and developing. Ideas may come from – daily experience, frustrating or irritation moments and customer complaints/feedback. The above experience will leads to opportunity to develop something better, quicker or cheaper that existing product or services. One way to generate good business idea is through the design thinking process. Understand customer pains is the key to generate successful product or services. What is your customer’s pain? As a UNISZA student? As a nursing student? As a house renting person? As a young adult? As a ‘rakyat’? Design thinking Design thinking is a method to focus the design and development decisions of a product on the needs of the customer, typically involving an empathy-driven process to define complex problems and create solutions that address those problems. Creative design thinking and planning are about finding new solutions for problems – creatively and innovatively. Practical solution - technically feasible, economically viable, desirable to customers. Example Airbnb, Uber Eats and Pillpack (later we discuss on this). The 5 Stages in the Design Thinking Process The 5 Stages in the Design Thinking Process 1. Empathize: research your customers' needs – understand/feel it. 2. Define: state your customers' needs and problems – focus on viable issues. 3. Ideate: challenge assumptions/status quo and create ideas. 4. Prototype: start to create solutions. 5. Test: try your solutions.  The Pillpack Story https://www.youtube.com/watch?v=IE5ZxZINyZQ PillPack, Inc. is an American online pharmacy which is a subsidiary of Amazon.com. Pillpack case study Overview: Pillpack is one of the best design thinking process examples. It is an online pharmacy that delivers medicine and prescription drugs. Challenge: How to make it easy for people to order medicines online and be a trustworthy platform. Realization: Pillpack chose to work with designers and used a human- centered approach to refine its brand vision and strategy. Solution: The company followed a design thinking process while making its brand strategy and overall design. In 2014, Time Magazine labeled Pillpack the year's best invention. Moreover, it was acquired by Amazon for $1 billion in 2018.  Other example: Embrace Incubator https://www.youtube.com/watch?v=c_PEuMHl2Qs Overview: Every year, more than 1 million babies that are born premature die due to hypothermia. Challenge: to provide incubators in rural areas at a low cost that would help save the lives of these premature babies. Realization: the team had to find a way to make these rural hospitals have access to incubators to provide better facilities. Solution: Embrace Incubator invented an incubator that wasn’t expensive and came with a built in sleeping bag that can be warmed. Business Ideation (Step 3 in Design Thinking) Ideation - is the purposeful process of opening up your mind to new trains of thought that branch out in all directions from a stated purpose or problem. There are lots of methods to generate business ideas such as Brainstorming, Mind Map, SCAMPER, ABC Tools, Structure the Problem, The Market Matrix and many more. In this class we using the SCAMPER Technique. SCAMPER is a lateral thinking technique which challenges the status quo and helps you explore new possibilities.  S.C.A.M.P.E.R - Example SCAMPER is an acronym and stands for: Substitute Combine Adapt Modify Put to another use Eliminate Rearrange/ Reverse This tool allows you to apply modification on existing business idea and finding new ideas by doing so. How to use S.C.A.M.P.E.R. First, take an existing product or service. The product or service that you want to improve or which could be a great starting point for future development. Then, simply go down the list and ask questions regarding each of the seven elements. Apply the questions to values, benefits, services, touch points, product attributes, pricing, markets and essentially any other related aspect you might be able to think of that has relevance to your ideation needs. Do any of the answers stand out as viable solutions? Could you use any of them to create a new product, or develop an existing one? SCAMPER Substitute Let’s substitute the screen of a laptop with a tablet. This is what Lenovo, Asus and other big laptop companies did. S - Guiding questions What can I substitute so as to make an improvement? How can I substitute the place, time, materials or people? Can I substitute one part for another or change any parts? Can I change the rules? Should I change the name? Can I use other ingredients or materials? Can I use other processes or procedures? Can I change its shape, colour, roughness, sound or smell? Can I use this idea for other projects? Can I change my feelings or attitude towards it?  SCAMPER Combine Combine a laptop with a webcam. This is what engineers did some years ago. Now every laptop has an integrated webcam. C - Guiding questions What ideas, materials, features, processes, people, products, or components can I combine? Can I combine or merge this or that with other objects? What can I combine so as to maximize the number of uses? What can I combine in order to lower the costs of production? Which materials could I combine? Where can I build synergy? Which are the best elements I can bring together so as to achieve a particular result?  SCAMPER Adapt Laptop for adults. Let’s adapt laptop for kids. This is what many toy manufacturer did to grow their revenues. A - Guiding questions Which part of the product could I change? Could I change the characteristics of a component? Can I seek inspiration in other products or processes, but in a different context? Does the history offer any solutions? Which ideas could I adapt, copy, or borrow from other people’s products? What processes should I adapt? Can I adapt the context or target group? What can I adapt in this or that way in order to make this result?  SCAMPER Modify (Magnify or minimize) Make your laptop smaller. This is how the first palm-organizer were invented and what finally brought us the smart phone. M - Guiding questions What can I magnify or make larger? What can I tone down or delete? Could I exaggerate or overstate buttons, colours, size…? Could I grow the target group? What can be made higher, bigger, or stronger? Can I increase its speed or frequency? Can I add extra features? How can I add extra value? What can you remove or make smaller, condensed, lower, shorter or lighter—or streamline, split up or understate? What can I change in this way or that way so as to achieve such and such a result?  SCAMPER Put to another use You could use your laptop as a second monitor. This is probably how Lenovo came to this idea. https://www.youtube.com/watch?v=uw4LhcMCp4U P - Guiding questions What else can it be used for? How would a child use it?—an older person? How would people with different disabilities use it? Which other target group could benefit from this product? What other kind of user would need or want my product? Who or what else may be able to use it? Can it be used by people other than those it was originally intended for? Are there new ways to use it in its current shape or form? Would there be other possible uses if I were to modify the product? How can I reuse something in a certain way by doing what to it?  SCAMPER Eliminate Let’s eliminate the keyboard of the laptop. What do you get? Right: A tablet! E - Guiding questions What can I remove without altering its function? Can I reduce time or components? What would happen if I removed a component or part of it? Can I reduce effort? Can I cut costs? How can I simplify it? What’s non-essential or unnecessary? Can I eliminate the rules? Can I make it smaller? Can I split my product into different parts? I can eliminate what by doing what?  SCAMPER Rearrange or Reverse Rearrange a laptop? Sure! You could rearrange the touchpad. This is what IBM did with its trackpoint. R - Guiding questions What can I rearrange in some way – can I interchange components, the pattern, or the layout? Can I change the pace or schedule? What would I do if part of your problem, product or process worked in reverse? I can rearrange what in what way such that this happens.  01 04 02 03 Now let do SCAMPER activity!! Any Questions? That’s all for today!