Unit 4 Assignment Delivery: Entrepreneurial Plan. The New Yorker magazine has caption contests for cartoons, and forces readers to come up with humorous connections. dresses from candy wrappers. It argues that while culture, strategy, technology, and other management tools are important in generating effectiveness in the 21 st century, creativity and innovation are what drive organizational success in many sectors. Creativity and innovation are what make the world go around and continue to improve and evolve! 4) Spontaneous And Emotional Creativity. The three primary theories of creativity are: (1) Primary Process Cognition, (2) Defocused Attention, and (3) Associative Hierarchies (Martindale, 1999, pp. Creativity involves producing original ideas that are . In addition, creative ideas often come to us when we least expect them, which can make it difficult to capture them before they slip away. Pioneering startups in each country are spurring the entrepreneurial movement across the world, as seen in examples like Skype (Estonia), Baidu (China), Anoosh (Saudi Arabia), Patagon (Argentina), and Aramex (Jordan). Entrepreneurial Environment. When were able to tap into our creativity, a whole world of possibilities opens up. There are many factors that lead to creativity, but the most influential ones are being able to manage time and money. In fact, youll have to make many failures and mistakes along the way. (2011). So if youre wondering if youve what it takes to be a successful entrepreneur, dont worry its all about being creative and flexible! difficulty viewing things from different perspectives, seeing only what you expect to see or think what others expect you to see, preference for judging rather than seeking ideas, a belief that reason and logic are superior to feeling, intuition, and other such approaches, thinking that tradition is preferable to change, disdain for fantasy, reflection, idea playfulness, humor, inhibition about some areas of imagination, distrust of others who might be able to help, weak technical skills in areas such as financial analysis, Trying different ways of looking at and thinking about venture opportunities, Trying to continually generate ideas about opportunities and how to exploit them, Seeking clues from business and personal contacts, trade shows, technology licensing offices, and other sources, Not being discouraged by others negative views because many successful innovations were first thought to be impossible to make, Generating possible solutions to obstacles before stating negative views about them, Considering multiple consequences of possible future events or changes, Rearranging, reversing, expanding, shrinking, combining, or altering ideas, Building on what you have learned throughout this unit, identify the characteristics that resonate with you as being critical to success and appealing to you personally, Reflect on why these characteristics are critical and appealing, Reflect on how these characteristics, or lack thereof, could impact your own success as an entrepreneur, Reflect on how you can strengthen these characteristics to support your own entrepreneurial success over the next 18 months, Concepts that were easy to understand and why, If there was not a particular concept that was easy to understand, reflect on why this was the case, Concepts that were difficult to understand and why, If there was not a particular concept that was difficult to understand, reflect on why this was the case. Scott Summit, Founder of Bespoke, framed prosthetics as not just unsightly artificial limbs but custom-made fashion accessories. Description of component . In the creative process, there are five important phases that we need to go through before we can come up with a truly innovative idea. Unit 2 Assignment: The Makings of a Successful Entrepreneur, https://dschool.stanford.edu/resources/the-bootcamp-bootleg, Entrepreneurship and Innovation Toolkit, 3rd Edition, Next: Unit 3: The Entrepreneurial Process, Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, Define creativity and innovation in an entrepreneurial context, Reflect on various perspectives on creativity and innovation in an entrepreneurial context, Identify the characteristics that resonate with you as being critical to entrepreneurial success, The unexpected (unexpected success, failure, or outside events), The incongruitybetween reality as it actually is and reality as it is assumed to be or as itought to be, Changes in industry structure or market structurethat catch everyone unawares, New knowledge, both scientific and nonscientific, Specific knowledge of time, place, or circumstance, Uses science to exploit excess demand (a market imperfection), Becomes an opportunity to discover and apply the laws of nature to satisfy excess demand, Inventions in one industry have ripple effects in others, Circumstances reveal an opportunity to exploit excess demand (a market imperfection), Example: airline industry = need for food service for passengers, Uses science to exploit excess supply (a market imperfection), Example: Second most abundant element on earth after oxygen = silicon microchips, Circumstances reveal an opportunity to exploit excess supply (a market imperfection), Example: Producers capacities to lower prices = Wal-Mart, The distinction between true advances and promotional differences, Example: assembly line method to automobile production,robotics, agricultural processing, Global context: Culture, laws, local buyer preferences, business practices, customs, communication, transportation all set up new distribution channels, Example: Honda created a new market for smaller modestly powered motorbikes, Conquest of a new source of supply of raw materials, Enhance availability of products by providing at lower cost, Enhance availability by making more available without compromising quality. ability to develop something original, particularly an idea or a representation of an idea, with an element of aesthetic flair. This made students more investigative, engaged, enthusiastic, and critical thinkers. If people elsewhere went for this idea, might they want it here too? Think of how many times youve heard someone say, Oh Im not good at math. Or maybe someone has said to you: Im not good at art. These assumptions that we make about ourselves will ultimately limit us in life unless they are challenged on a daily basis with new ideas, new experiences, new interactions with others who have different perspectives from us and by learning from those around us through conversation or even just observation of their behavior patterns. Tina asks her students to introduce themselves to each other in six words each. One of the components of Mitchells (2000) New Venture Template asks whether the venture being examined represents a new combination. Drucker, P. F. (1985). He suggested that generating innovative ideas involved two tasks: to depart from what is usual or customary andto apply an effective way to direct this departure. This can make it difficult to find time to be creative. The LibreTexts libraries arePowered by NICE CXone Expertand are supported by the Department of Education Open Textbook Pilot Project, the UC Davis Office of the Provost, the UC Davis Library, the California State University Affordable Learning Solutions Program, and Merlot. If you want to be creative, you need to build physical habitats that unlock your imagination, Tina emphasises. Starting a business takes courage and courage comes from confidence in yourself and what youre doing; entrepreneurial creativity allows us all to grow our self-confidence by giving us permission to think outside the box, take risks and challenge ourselves creatively every day! Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. Review is probably the most difficult part of the creative process. An entrepreneur is a creator or a designer who designs new ideas and business processes according to the market requirements and his/her own passion. 7-8. He suggested that generating innovative ideas involved two tasks: to depart from what is usual or customary and to apply an effective way to direct this departure. Being creative isnt always easy. (1934). If you try to come up with a truly innovative idea, youre bound to experience many failures. Tina Seelig is a Professor of the Practice in the Department of Management Science and Engineering at Stanford University, and the Faculty Director of the Stanford Technology Ventures Program (STVP). You are going to develop your own set of characteristics, skills, abilities, traits, etc., which collectively make for a successful entrepreneur, and explore how you see these characteristics in yourself. Introduction to Entrepreneurship (Carpenter), { "2.01:_Unit_2_Introduction_and_Learning_Outcomes" : "property get [Map MindTouch.Deki.Logic.ExtensionProcessorQueryProvider+<>c__DisplayClass228_0.
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