Innovation, Creativity, and Entrepreneurship in Small Scale Industries

Contents
Introduction...........................................................................................................................................3
Innovation, creativity and entrepreneurship.........................................................................................3
Types of innovation and creativity.........................................................................................................4
Tools for innovation and creativity........................................................................................................4
Divergence tools-...............................................................................................................................4
Convergence tools.............................................................................................................................4
Lateral thinking-.................................................................................................................................5
Circular process.................................................................................................................................5
Illustrations of small scale industries known for innovation and creativity...........................................6
Conclusion...........................................................................................................................................10
References...........................................................................................................................................10
Appendix.............................................................................................................................................14

Introduction
Creativity means thinking about new things and their ability to create new ideas and discover
other new ways to look at the opportunities and problems. In the huge era of competition, it
has become compulsory for the organisations to engage in innovation and creativity, as it will
avail competitive advantage in the market. Discussion in the essay has considered the
innovation and creativity of small companies in every industry considering domestic as well
as international organisation. Entrepreneurship introduces innovation and creativity in the
organisation with the help of existing ideas, developing new ideas, or after testing the product
through innovation process. This essay has considered examples from industry like food
industry, automotive industry, electric industry, medical industry, architectural industry,
jewellery designing, and fashion industry. Technological changes was the revolution in
motivating and bringing innovation and creativity in the organisation (Snyder, Hammond,
Grohman, & Buonincontro, 2019).
Innovation, creativity and entrepreneurship
Innovation is the way of doing new things with the ability of applying the creative solution to
those problems that can become opportunity so that the lives of the people as well as society
can be enriched and enhanced (Chang, Chen, Hsu, Chan, & Chang, 2015). Whereas,
entrepreneurship is the outcome of the procedure that includes the applying of both creativity
as well as innovation so that it can capitalise the marketplace opportunities. It is important to
know that there are various risks and barriers associated with the innovation and creativity
such as an entrepreneur can focus only on logical, blindly follow the rules, be coming
overspecialized that may not be even needed. Solution to these barriers cannot be built
overnight but it takes phases such as with the help of knowledge accumulation that includes
professional conferences, visit to library, and reading (Snyder, Hammond, Grohman, &
Buonincontro, 2019).

Evolution process that means sleep on it, and wake with it. Generally, it is said that eureka
and idea experience that usually phase slowly and surely formulates the answer.
Types of innovation and creativity
While considering the innovation and creativity in the organisation, it has been seen that they
follow either one or more than one types of innovation. The four types of innovation such as
invention, extension, duplication, and synthesis.
Invention- it is described as creating a new product or service.
Extension- it is described as expansion of service, product, and the process.
Duplication- it means replicating the existing the service, product, and process. Synthesis is
the combination of existing concepts as well as other factors for the formulation.
Tools for innovation and creativity
Here is a glimpse of different tools used the companies for innovation and creativity such as
divergent tools, convergence tools, and creativity as a circular process.
Divergence tools-
It focus on generation of as many ideas are available it is wide and free. With this tool,
organisations generate many options such as brainstorming, SCAMPER, Forced connections,
or Excursion (Snyder, Hammond, Grohman, & Buonincontro, 2019).
Convergence tools-
It strive to analyse, merge ideas, and filter ideas so that it can select one of the best idea.
Divergent tools include analogy cards, which produces 80% of the ideas during the ideation
session itself. This concept means copying the concept form other industries and soon
adapting it for the own (Snyder, Hammond, Grohman, & Buonincontro, 2019). This is
considered as a great model to generate business ideas by reviewing the business models even