INNOVATION- soul of entrepreneurship

Intrapreneurs must be creative in:

1. GETTING SPONSOR
2. FORMING A TEAM
3. COMING UP WITH RESOURCES
4. OVERCOMING OBSTACLES

INNOVATION CREATIVITY
Application of better solutions that meet new Application of person’s mental ability to discover
market needs new things

Ways of being creative

Organization creativity- organizing people or projects

Material creativity- inventing a tangible object

Inner creativity- open to new approaches

Relationship creativity- win-win relationships

Idea creativity- thinking a new idea or concept

Spontaneous creativity- spontaneous manner

Event creativity- producing event or activity

In business context…
Creativity is MORE than originality.
 COMPONENTS OF CREATIVITY
1. MOTIVATION
a. EXTRINSIC
b. INTRINSIC
2. EXPERTISE
3. CREATIVE THINKING SKILLS

INNOVATION

- Creation of new products

- Opening of a new market
- Capture of new sources of supply

MOST USED TYPES OF INNOVATION

 BUSINESS MODEL- directly affects the internal processes
 RADICAL- something entirely new of what existed before the innovation
 INCREMENTAL- systematic evolution of a product
 PRODUCT, PROCESS, AND SERVICE- reduce overall cost
 SUSTAINING- replace older products with newer, more up-to-date versions

In essence
Entrepreneurship requires that the employee takes ownership
of the creative idea, and assume responsibility for its
implementation.