You are on page 1of 49

Topic

Creativity and The Business Idea

Group: 01
Shahid
YOUSAF
Roll No. 45
TOPIC:
CREATIVITY
Creativity
TOPIC: TURNING NEW
IDEAS INTO REALITY.
Importance Of Creativity:
Every business requires creative thinkers in the form of scientists,
engineers, medical researchers, technology innovators, business
entrepreneurs, artists, performers, writers and illustrators, designers,
inventors, educators and parents. Those with the ability to "think outside
of the box" will lead the future and make special things happen.
Importance in Entrepreneurship:
FOR ENTREPRENEURS
A thorough observation of the entrepreneurial process shows that
creative thinking is the must have “skill” of an entrepreneur for the
creation of new ideas. Creativity allows a person to devise interesting
processes, which gives so many advantages to entrepreneurs.
But what exactly makes creativity so crucial and important in an
entrepreneur’s work life?
Creativity leads to success by:
Creating new ideas for competitive
advantage
The whole process of entrepreneurship is rooted in creation and
exploration of new ideas. When an entrepreneur is able to generate a new
idea that is feasible as well as efficient, it gives him an edge over the
competition.
Thinking of novel ways to develop your
product and improve the business.
Creativity helps develop new ways of improving an existing product or
service and optimizing a business. There is always a room for
improvement in the deliverables of an enterprise; it is the creative
entrepreneur who can assess how to do it.
Thinking the unthinkable
Creativity requires imagination to produce the most obscure ideas.
Imagination is needed to cross the boundary of “usual” and “normal” or
to think outside the box. This allows entrepreneurs to think beyond the
traditional solutions, come up with something new, interesting, versatile,
and yet have success potential.
Finding similar patterns in
different areas:
Creativity enables people to connect dissimilar and unrelated subjects
and make successful entrepreneurial ideas. Merging different fields
creates interesting intersections that creates new niches.
Developing new niches through creativity and entrepreneurship. In
entrepreneurship, it is important that new aspects of traditional business
are explored. This can be in the form of changing the method of
manufacturing the product or delivering the service or how are they
supplied to the user. All these areas can create a niche that has great
potential in business.
Sources of new ideas:
Consumers
Existing Products and services
Distribution Channels
Research and development
Ayesha
Nisaar
Roll No. 03
TOPIC:
CREATIVE PROBLEM
SOLVINGM
Methods of Generating ideas

Focus Group
Brain Storming
Brainwriting
Problem Inventory Analysis
Focus Groups
Group of individuals providing information in a structured
format.
◦ Discussion in structured format
◦ 8-14 Individuals
Brainstorming
A group method of obtaining new ideas and solutions.
◦ -Generate ideas in limited timeframe
◦ -Neither too broad nor too narrow
◦ - 6-12 Individuals
Brainwriting
A form of written Brainstorming.
◦ Created by Burnd Rohrbach
◦ Also knows as Method 635
◦ Give more time
◦ Write ideas on cards of forms
◦ Write three ideas per 5 minutes
Problem Inventory Analysis
A method of obtaining new ideas and solutions by focusing
on problems.
◦ Analogous to focus group
◦ Provided list of problems
◦ Ask to identify
Waleed
Said
Roll No: 32
TOPIC: CREATIVE
PROBLEM SOLVING
Creative Problem Solving
A method for obtaining new ideas focusing on the
parameters.
◦ -Important
◦ -Beginning from school
◦ -Decline with age
◦ -Gender
Creative Problem Solving
Brainstorming
Reverse Brainstorming
Gordon Method
Checklist Method
Free Association
Forced Relationship
Collective Notebook Method
Attribute Listing
Big Dream Approach
Parameter Analysis
Brainstorming
A group method of obtaining new ideas and solutions.
◦ -Generate ideas in limited timeframe
◦ -Neither too broad nor too narrow
◦ - 6-12 Individuals
Reverse Brainstorming
A group method of obtaining new ideas focusing on the
negative.
◦ -Criticism allowed
◦ -Asking question
◦ -Maintain moral
◦ -Identification of Everything wrong
Gorden Method
Method for developing new ideas when the individuals are
unaware of the problem.
◦ -Unaware of problem
◦ -No Behavior Pattern Involve
◦ -Mentioning a General Concept
◦ -Actual result obtained from
Checklist Method
Developing a new idea through a list of related issues.
◦ -List of related issues
◦ -Any kind of Checklist can be used
◦ -Evaluate results
Free Association
Developing a new idea through chain of word association.
◦ -Using word or phrase
◦ -Creating Chain of ideas
Wasid
ROLL No:

TOPIC: CREATIVE
PROBLEM SOLVING
(CONT..)
Forced Relationship
Developing a new idea by looking at product combination.
◦ -Isolate the elements
◦ -Find a relationship
◦ -Record the relationship
◦ -Analyze the relationship
◦ -Develop new ideas
Collective Notebook Method
Developing a new idea by group members regularly
recording ideas.
◦ -Containing a small notebook
◦ -Statement of Problems
◦ -Consideration and suggestion
◦ -List of best ideas
Attribute Listing
Developing a new idea by looking at the positives and
negatives.
◦ -Developing new idea
◦ -Idea Finding technique
◦ -Form a new combination
◦ -Positive and Negative Efforts
Big dream approach
Developing a new idea by thinking without constraints.
◦ -Dream and Solution
◦ -Think Big
◦ -Recorded and investigated
◦ -Ideas conceptualizing
Parameter Analysis
Developing new idea by focusing on parameters
identification and creative synthesis.
◦ -Final Method
◦ -Involve two aspects:
◦ Identification
◦ Creative synthesis
◦ -Focus on investigation
◦ -Evaluation of parameters
Aneel
Zahid
Rol No: 18
TOPIC: INNOVATION
Innovation

Types of Innovation
Defining a New Innovation
Classification of New Products
Opportunity Recognition
Types of Innovation
•Breakthrough innovation
•Technological innovation
•Ordinary innovation
Defining a New Innovation
•Classification of new Product
•From consumer view point
•From firm view point
Opportunity Recognition
•Education
•Experience
Faiza
Roll No:
05
TOPIC: PRODUCT
LEARNING AND
DEVELOPMENT
Product Planning and
Development Process
Establishing Evaluation Criteria
Idea Stage
Concept Stage
Product Development stage
Test Marketing Stage
Establishing Evaluation Criteria
At each stage of product planning and development
process, criteria for evaluation need to be established.
Evaluate new ideas in terms of:
◦ -Marketing opportunity
◦ -Competition
◦ -Marketing System
◦ -Financial factors
◦ -Product factor
Idea Stage
First stage in product development process.
◦ -Ideas should be identified
◦ -Determine the need for new idea
◦ -Focus of idea
◦ -Financial scheduling evaluation
Concept Stage
Second stage in product development process.

• Refined idea is tested


• Price and promotion evaluated through Q’s
• Done for all aspects of marketing strategy
Product Development stage
Third stage in product development process.
◦ -Reaction is determined
◦ -Give samples to Consumer Panel
◦ -Comments
◦ -Results
Test Marketing Stage
Final stage before product development
process.
◦ Market test
◦ Provide Actual Results
◦ Positive or negative
Lishba
Khan
Roll No: 01
TOPIC: E-COMMERCE
AND BUSINESS START-
UP
E-Commerce and Business
Start-up
oUsing E-Commerce Creativity
oWeb Sites
oTracking Customer Information
oDoing E-Commerce as Entrepreneurial Company
Using E-Commerce Creativity
◦ Useful for Marketing and sales
◦ Expends Marketing and sales channels
◦ Online business
◦ Design web page
◦ Front-end & Back-end operation
Web Sites
◦ Web page
◦ Increasing day by day
◦ 90% of small businesses operating web sites
◦ Create more opportunities
◦ Speed speed speed
Tracking Customer
Information
◦ Support end to end marketing
◦ Track all clients and customers
◦ Motivate to capture intention to get
information
◦ Care must be taken
Doing E-Commerce as
Entrepreneurial Company
◦ Product should be delivered economically
◦ Choose reliable product for online
◦ Product must be good looking
◦ Must be in use
◦ Cost reduction
Thank You