ZERO LECTURE

MGN903
 DETAILS
• COURSE CODE: MGN903

• COURSE NAME: MANAGING INNOVATION AND CREATIVITY

 TEXT BOOK
• INNOVATION MANAGEMENT
• C.S.G. KRISHNAMACHARYUL U AND LALITHA R.
• HIMALAYA PUBLISHING HOUSE PVT. LTD
 REFERENCE BOOK
NAME OF THE BOOK 1 NAME OF THE BOOK 2
• MANAGING INNOVATION • INNOVATION MANAGEMENT

AUTHOR OF THE BOOK AUTHOR OF THE BOOK

• JOE TIDD, JOHN BESSANT • ALLAN AFUAH

PUBLISHER
PUBLISHER
• OXFORD UNIVERSITY PRESS
• WILEY
WHAT IS CREAVITY AND INNOVATION
FOR YOU?
ELON MUSK
• Elon Musk is a US-based tech entrepreneur and businessman who initially
launched his first company, Zip2 Corporation, in 1995 with his brother,
Kimbal Musk.
• Soon, Zip2 started rendering content for the new websites of both The New
York Times and the Chicago Tribune.
• In 1999, he had become a multimillionaire after selling his Zip2 company to
a subsidiary of Compaq Computers$307 million in cash and $34 million in
stock options.
• In the same year, he started X.com, which is now known as PayPal. After
that, he founded SpaceX in 2002 and Tesla Motors in 2003.
• Currently, Musk’s net worth even passed Warren Buffet, and Tesla Motors
shares have even surpassed Toyota Motors.
SUNDAR PICHAI
• He joined Google in 2004 as a Product Manager for Google clients software
products like Chrome, Chrome OS, and Google Drive.
• Later on, he took charge to oversee the other Google application like Google
Maps and Gmail.
• In 2009 he also suggested the idea of the Chrome browser which was the
best and he helped Google to develop the Chrome browser and become the
most popular browser of all time.
• This browser has 5 Billion downloads in Google play store.
• He also helped Google to release a new Video Format WebM in 2012.
• In 2013, Sundar Pichai added android to a list of Google products.
• In 2015, he became the CEO of Google.
 Definition of Creativity

• Creativity is the characteristic of a person to generate new ideas,

alternatives, solutions, and possibilities in a unique and different way.

• Creativity is the ability to conceive something unpredictable, original

and unique. It must be expressive, exciting and imaginative. It is the
mirror of how beautifully a person can think in any given
circumstance.
 Definition of Innovation

• Innovation is an act of application of new ideas to which creates some value

for the business organization, government, and society as well. Better and
smarter way of doing anything is innovation.

It could be the introduction of:

• New technology.
• New product line or segment.
• A new method of production.
• An improvement in the existing product.
DIFFERENCE BETWEEN INNOVATION AND
CREATIVITY

BASIS FOR COMPARISON CREATIVITY INNOVATION

Meaning Creativity is an act of creating new ideas, Innovation is the introduction of

imaginations and possibilities. something new and effective into the
market.

Process Imaginative Productive

Quantifiable No Yes

Related to Thinking something new Introducing something new

Money Consumption No Yes

Risk No Yes
EXAMPLES
 GOALS OF INNOVATION
• Improving quality
• Creation of new markets
• Extension of the product range
• Reducing labour cost
• Improving production process
• Reducing use of materials
• Reducing environmental damage
• Replacement of products/services
• Reducing energy consumption