Flashcards
Chapter 3
Flashcards do conjunto (11)
- 1Three components of creativityCreative thinking skills: around how to approach problems and solutions
Knowledge
Motivation - 2Creativity techniquesProblem reversal: viewing a problem from an opposite angle
Mind Maps
Brainstorm
Forced analogy: making an association
between two unlike things in order to obtain new insights.
Attribute listing: list all major attributes of a product, object or idea and then for each attribute list ways each of the attributes could be changed. - 3Factors influencing creativity-Encouraging creativity
- Autonomy: Freedom from external control, creativity is fostered when individuals and teams have high autonomy in day-to-day conduct of work.
- Resources: resource allocation
-Pressures: Excessive workload pressure and pressure of challenge
- Mental blocks: Prejudice, a preconceived opinion or feeling, either favourable or unfavourable. - 4InnovationThe successful implementation of creative ideas within an organisation. three types: Incremental, disruptive and cost innovation.
- 5Incremental innovationImprovements of existing products that enhance performance in dimensions traditionally valued by mainstream customers. i.e. creating bigger more powerful mainframe computers. Tweaking existing designs for big clients who usually want steady improvements that yield higher margins.
Three types:
- Extension: improvement or new use of existing product, service or process. i.e the development of desktop, notebook and laptop computers based on the mainframe.
- Duplication: creative replication or adaptation of an existing product, service or concept. can take place across different markets i.e Red rooster Aussie adapted from KFC america.
- Synthesis: Combination of existing PSP into a new formulation or use i.e fax (telephone and photocopier) or smarthphone (telephone, camera, organiser, internet, music plater & GPS) - 6Disruptive innovationChanging the value proposition, sometimes comes about from re-working ideas that failed to make it in the past. 3 approaches:
- Back-scratcher (scratch an unscratched itch): Innovation that makes it easer and simpler for people to get an important job done i.e mobile phones, instant messaging.
- Extreme makeover (make an ugly business attractive): Find a way to prosper at the low end of established markets by giving people good enough solutions at low prices. i.e backpacker accomodation, budget airlines.
- Bottlenecked buster (democratise a limited market): Expand a market by removing a barrier to consumption, works best when some customers are locked out of a market because they lack skills, access or wealth. i.e. eBay, blogs, social networks such as Facebook or Twitter. - 7Cost innovationInnovation which considers the value for money segment to attract value conscious customers.
Three ways:
- Selling high end products at mass marketed prices: Aravind the worlds largest eye hospital chain in China. Use a pricing structure tiered, wealthier charged more for fancy rooms and allows cross-subsidisation care for the poor.
- Offering choice or customisation to value customers: China's goodbye baby sells customers over 1600 kinds of childrens strollers, car seats, bassinets, baby walkers etc, four times more than its rivals but at comparable prices, they invest 4% of their annual revenues into R&D.
- Turning niches into mass markets: China's haier captured 60% of the US wine refrigerator market in less than a decade by lowering prices . - 8Sources of innovation within companies or industries- Unexpected occurences: Creation of Viagra in 1991, discovered a series of chemical compunds that helped to treat angina (heart problems), they later discovered in studies that it helps to reverse erectile disfunction.
- Incongruitites: Occur when a gap exists between expectations and reality. i.e. overnight mail delivery fred smith, an incrogruity existed between what smith felt was needed and the way the business was being conducted, federal express weas created.
- Process needs: exist when their is need to innovate as a way of answering a particular need i.e eye surgeons knowing how to perform cataract surgery but the process was not usuable because the enzyme used to make the process easier was too hard to preserve. Entrepreneur found a way to preserve the enzyme.
- Industry and market changes: Continual shifts in the market placed are caused by changes in consumer attitudes, advances in technology and industry growth. i.e Healthcare industry in South East Asia, private medical centres creating 'five star hotels' to win wealthy sick customers. - 9Sources of innovation in the social environment-Demographic changes: Census data provides a precise picture of the actual demographic structure of a country. i.e. new zealand and australia have intergrated a large number of migrants so ethnic food is one of the fastest growing industies.
- Perceptual changes: members of a community change their interpretation of facts and concepts i.e. acceptability, beauty, time and distance. i.e. commuters living in suburbs of big cities perceive 50km or hour journeys to their workplace fine, residents in small towns would not.
- New knowledge: Knowledge based on innovations differ from all others in the time they take. - 10Developing and disseminating knowledge through social networks-Social networks are catalysts for the development and dissemination of knowledge both for emerging and established organisations.
Three features:
- Diversity: aries from various characteristics (age, gender, ethnicity, education) of the people forming the network. widens the scope of information around potential innovations, business locations, sources of capital.
-Affective strength: relationships between people in networks can be strong, weak or fluctuating.
- Structural equivalence - 11Screening opportunitiesthe creativity-innovation-entrepreneurship process essentially entails identifying and evaluating opportunities.
- Critical issues all tools should look at when evaluating opportunities:
1. Product feasibility: can the product be made or service deliver using currently available or at least feasible technology?
2. Market feasibility: does anyone want it? has the product any features that someone values and would be ready to pay for?
3. Economic feasibility: can the product be developed, manufactured and distributed while generating profit.
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- Management FlashCards sobre Chapter 3, criado por Jana Gallagher em 12-09-2017.
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- Jana Gallagher
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