Relationship between innovation and entrepreneurship ppt

relationship between innovation and entrepreneurship ppt

Mar 6, Which brings us to the final step in the process, developing a business that can take advantage of the innovation or “entrepreneurship. Entrepreneurs tend to focus on being different than current competitors. That may not make them survive or thrive. Creating true Innovation requires your product. Dec 6, ENTREPRENEURSHIP AND INNOVATION: 3. express, by releasing a better way of moving parcels between people. to invest in high profile advertising and public relation campaigns. . Creativity and innovation ppt mba.

Social innovations based on knowledge can have equal or even greater impact. Knowledge-based innovation is temperamental, capricious, and hard to manage.

The lead time for knowledge become applicable technology and begin to be accepted on the market is between 25 and 35 years. It was applied to a calculating machine by Charles Babbage in the first half of 19th century.

relationship between innovation and entrepreneurship ppt

InHerann Hollerith invented the punchcard, going back to an invention by the early 19th century Frenchman J-M. In an American, Lee de Forest, invented the audion tube, and with it created electronics.

During WWI, the concepts of programming and feedback were developed. Byall the knowledge needed to develop the computer was available.

The first computer became operational in Until all the needed knowledge can be provided, knowledge-based innovation is premature and will fail. Until all the knowledge converge, the lead time of a knowledge-based innovation usually does not begin. The analysis must identify what factors are not yet available so that entrepreneur can decide whether these missing factors can be produced or whether the innovation had better be postponed as not yet feasible.

Scientific and technologists are reluctant to make these analyses precisely because they think they already know.

This explain why, in so many cases, the great knowledge-based innovations have had a layman for their father. Yet knowledge-based, and especially high-tech, innovation tends to have little entrepreneurial management.

They are still, 19th century inventors rather than 20th century entrepreneurer. The combination of the two characteristics of knowledge-based innovations — long lead time and convergences — give these innovations their peculiar rhythm. For a long time, there is awareness of an innovations about to happen — but it does not happen.

Innovation and Entrepreneurship

Then suddenly there is a near-explosion, followed by a few short years of tremendous excitement, tremendous startup activity, tremendous publicity. The window is becoming more and more crowded. A great many countries have today what only very few small places has a hundred years ago. High tech companies need to plow more and more money back into research, technical development, and technical services to stay in the race.

relationship between innovation and entrepreneurship ppt

There is only one prescription for survival during the shakeout entrepreneurial management. They satisfy a need that already exists. In knowledge-based innovation, the innovation brings about the change.

Innovation and Entrepreneurship - ppt download

It aims at creating a want. And on one can tell in advance whether the user is going to be receptive, indifferent, or actively resistant. The authorities can be right or wrong. Only hindsight can tell us whether the experts are right or wrong in their assessment of the receptivity. Bright Idea 29 The bright idea Innovations based on a bright idea probably outnumber all other categories taken together.

relationship between innovation and entrepreneurship ppt

Bright ideas are the riskiest and least successful source of innovative opportunities. The entrepreneur is therefore well advised to forgo innovations based on bright ideas. No physician is going to put miracle cures into a textbook or into a course to be taught to medical students. They cannot be replicated, cannot be taught, cannot be learned.

There is no known way to teach someone how to be a genius. All the genius had was a brilliant idea. It belongs in the history of ideas and not in the history of technology or of innovation. Innovation is both conceptual and perceptual. Successful innovators look at figures and they look at people. An innovation, to be effective, has to be simple and it has to be focused. The greatest praise an innovation can receive is for people to say: The necessary changes can be made only if the scale is small and the requirements for people and money fairly modest.

As it turned out his nephew was related to a nursery school teacher, and she had given her students the same putty to play with, and that the children had enjoyed it. When first faced with the declining market for the original product, McVicker began taking the usual steps any good businessperson would take: It took a fresh perspective to see an alternative vision, a new way of doing something with an old thing. While we may think that creativity is hopelessly trapped in the right side of the brain, recent research suggests that connections between brain neurons move back and forth between both sides when people are at their most creative.

We need both processes to be creative. Good ideas take time. The initial idea needs time to gestate as it is not fully developed, or the solution is not quite complete.

The right brain-left brain dance needs to play out, as it may require more research left brain activityor it has reached an impasse and may require an additional fresh perspective right brain. Research from the University of British Columbia suggests our minds are not at rest during these periods, and that we are actually solving problems. They found that activity in the complex problem-solving areas of the brain were highly active during daydreaming episodes. Thus, people who are having trouble solving complicated problems may be better off to leave the problem at hand and let their mind wander.

This may help explain why we often have new and interesting ideas while undertaking mundane daily tasks, such as driving to work or showering. Children who had trouble focusing in school or would not pay appropriate attention were duly punished.

Unfortunately, the reverse may be true, as it appears that creativity in the United States may be on the decline. Several reasons for this were proposed, but one suggested that our education system is not encouraging creativity but implementing standardized curriculum and rewarding rote memorization. Despite these challenges, we are understanding more and more about creativity.

An important finding is that creativity can be taught. While some individuals are certainly more prone to being creative, we can all improve our creative output by implementing some of the suggestions above. TK Robert Epstein, renowned psychologist and creativity expert, recommends the following proven steps: Write down all your ideas. This amazingly simple act can increase your creative output tenfold. Give yourself tough problems to solve.

relationship between innovation and entrepreneurship ppt

Examples include learning a new language, a new instrument, or a new dance move. This builds the problem-solving muscles in your brain. The more diverse your knowledge, the more novel connections, especially outside your area of expertise.