NEIM

MODULE-2
By- Chintan Prajapati
DEMYSTIFYING TERMS
 Idea and opportunities
 Industry and market
 Creativity and innovation
 Invention and discovery
MYTHS AROUND INNOVATION
 Myth-1 Innovation is epiphanic
 Myth-2 There is a common strategy to
innovation
 Myth-3 You need that great big idea to win
 Myth-4 Innovation is a lonely vacation and it
requires eccentricity as a characteristic
 Myth-5 Only radical ideas qualify as
successful innovation
BUSINESS INNOVATION
 3 components of any business innovation
ecosystem:
 Ideas: as thoughts that are created and held in
the minds of individuals.
 Opportunity: a need or a challenge that exists in
the outside world i.e. the market place or social
domain.
 Business innovation

 It is the mapping of an internally generated

idea to an available opportunity in the
external social domain that is called I2O map.
RELEVANCE OF CREATIVITY AND
INNOVATION IN ENTREPRENEURSHIP
 Creativity and art
 Innovation
 Economic benefits
 Observation, consumption of information
 Depends upon industry nature and market
situation
 Depends upon strength of an individual and
interest area
OPPORTUNITY ANALYSIS
 Market driven
 Naturalchanges from man’s actions
 Changes can not be stopped
 Scope of innovation is wide
 People driven
 Artificial
changes that introduced into ecosystem
 Changes can be stopped
 Scope for innovation is less
 Opportunity sighting
 Market driven
 Demographic changes
 Changes in social situations
 Technological changes
 Supply demand changes
 People driven
 Regulatory changes
 Trade barriers
 Corporate policies
 Opportunity evaluation
 Entrepreneur’s perspective
 Customer’s perspective
 Business or industry perspective
APPROACH TO IDEATION
 Gathering information
 Synthesizing information
 Incubation
 Establishing the connect
 Shaping and development of idea
IDEATION TECHNIQUES
 Focus groups
 Brainstorming
 Creative writing
 Wish lists
 Ideal scenario
 Campaigns
 Introspection
 TRIZ- Teorija Rezbenija Izobretatelskib
Zadach: theory of inventive problem solving
 Time machine
 Catch-ball
 Scientific method
IDEATION CATALYSTS
 Being resourceful
 Ability to think without barriers
 Keeping an open mind to happenings around
one-self
 Tolerance for error and accepting failure
 Increasing the variety of people and
experience
IDEATION INHIBITOR
 Creativity or ideation can not be learnt
 Fear of failure
 When a person is constantly worried about
what others may think or find about him…
 Greater importance for reputation
CID SYNDROME
 Chronic ideation disorder syndrome
 Causes:
 Constantly ideating thinking something “better” will
come up
 Come up with idea but not taking steps to
experiment the idea
 Failure to recognize that ideation process has to be
stopped at some point to check the feasibility of
implementation
 Results:
 Loss of time
 Loss of energy
 No results!!
I2O MAP EVALUATION
 The economic imperative
 The cultural imperative
 The social imperative
 The personal imperative
THANK YOU…