Enterprise and Opportunity Report

Added on - 28 May 2020

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Enterprise and Opportunity1Enterprise and opportunityName of the Student:Academic Affiliation:Date:
Enterprise and Opportunity2IntroductionI can truly assert that all the sessions in the lectures are quite essential and thus wellapplicable in my daily experiences. The aim of this report is thus to make a discussion on thenumerous lecture sessions and how they are applicable in my daily work experience.SESSION3Introduction to creativity and innovationInnovation can be termed as a limitless spring of novel development and can offer businesses adiscrete competitive upper hand. Inventive Thinking as a means of becoming creative is foundedon five procedures that enable one to innovate on request. Creativity on the other hand is turningof novel and visionary ideas into certainty (Freppon et al, 2017).Outlined examples of tips that encourage creative behavior and which will be quite applicable inmy actual life includeUnderstanding when to nature environments and the time not to.rewarding creativity in individuals exhibit itPartaking in risks that worth takingOvercoming hindrances and not letting them overwhelm you instead.thinking for the long termkeep developing (Assiter, 2017)being conscious of the threat of knowing more than enoughBarriers to creativitysearch for the one right ideaconcentrating on being rationalInstinctively abiding by the rules
Enterprise and Opportunity3continuously being practicalseeing play as frolicsomeBecoming over specific –denies you chance to think and do moreevading vaguenessfear of appearing foolishbeing afraid of faults and failure-do not be bothered by what people will think about youBelieving that you are not creative-and instead start looking for the ways of improvingyour creativity4p’s of innovationThe 4p’s sum up one of the theories of innovation and is termed as 4p’s of innovation. It can beuseful in generating ideas. The 4Ps are quite essential in my life because they will enable me usethem in the actual business environment (Harvey & O'Connor, 2017). The 4ps’ are;ProductUnder product innovation, it’s the introduction of a new service or good .The product can as wellbe having significantly improved characteristics or intended uses. Aspects that can be looked athere include improvement on packaging, methods of delivery, freshness of the product andmany others. All these aspects aim at making the product better.ProcessSimply means implementing a new or significantly improved production of delivery method.Theimplementation will ensure the process is quicker, cheaper and more efficient (Suskie, 2018).PositionThese are innovations that aim at changing on how specifically product or process is perceivedsymbolically and how they are used. They aim at shaping, changing or improving on how the
Enterprise and Opportunity4customers, employees, partners and subcontractors view them. Satisfied customers are whatmatters in a profitable organization.ParadigmInvolves the change in the way something (anything) is done in the organization. The changesometimes can be radical. A good example is doing away of big coins in the banks or use ofinternet to market the product.Diamond ThinkingThis refers to a way of thinking that helps generate ideas. Business studies’ courses encourage akind of thinking called Convergent thinking in the process of coming up with solutions whileDiamond kind of thinking inspires a moment of Divergent thinking trailed by a moment ofConvergent thinking. This is important for me when I make an effort to become an entrepreneur.Divergent thinking entails discovery and development while convergent thinking comprisesdefinition and delivery (Rowley, Munday & Polly, 2017). Diamond thinking makes use of thesefor steps. It can therefore help me to explore the idea and bring it back in the use or system againand again. Box thinking can either be inside or outside. Outside box thinking comprisesincremental innovation and radical innovation while inside box thinking involves Analogy,attribute and gap analysis.SESSION 4:MarketingThis refers to undertakings of a company related to buying and finding potential buyers of theproduct or service. It comprises publicizing, selling and supplying products to individuals.Individuals who labor in marketing sectors of companies attempt to acquire the attention of
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