Enterprise and Opportunity
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Added on 2020-05-28
Enterprise and Opportunity
Added on 2020-05-28
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Enterprise and Opportunity 1Enterprise and opportunityName of the Student:Academic Affiliation:Date:
Enterprise and Opportunity 2Introduction I can truly assert that all the sessions in the lectures are quite essential and thus well applicable in my daily experiences. The aim of this report is thus to make a discussion on the numerous lecture sessions and how they are applicable in my daily work experience. SESSION 3Introduction to creativity and innovationInnovation can be termed as a limitless spring of novel development and can offer businesses a discrete competitive upper hand. Inventive Thinking as a means of becoming creative is founded on five procedures that enable one to innovate on request. Creativity on the other hand is turning of novel and visionary ideas into certainty (Freppon et al, 2017).Outlined examples of tips that encourage creative behavior and which will be quite applicable in my actual life includeUnderstanding when to nature environments and the time not to. rewarding creativity in individuals exhibit itPartaking in risks that worth taking Overcoming 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 Opportunity 3continuously being practicalseeing play as frolicsomeBecoming over specific –denies you chance to think and do moreevading vaguenessfear of appearing foolish being 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 improving your creativity4p’s of innovationThe 4p’s sum up one of the theories of innovation and is termed as 4p’s of innovation. It can be useful in generating ideas. The 4Ps are quite essential in my life because they will enable me use them 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 at here include improvement on packaging, methods of delivery, freshness of the product and many 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).Position These are innovations that aim at changing on how specifically product or process is perceived symbolically and how they are used. They aim at shaping, changing or improving on how the
Enterprise and Opportunity 4customers, employees, partners and subcontractors view them. Satisfied customers are what matters in a profitable organization.ParadigmInvolves the change in the way something (anything) is done in the organization. The change sometimes can be radical. A good example is doing away of big coins in the banks or use of internet to market the product.Diamond ThinkingThis refers to a way of thinking that helps generate ideas. Business studies’ courses encourage a kind of thinking called Convergent thinking in the process of coming up with solutions while Diamond kind of thinking inspires a moment of Divergent thinking trailed by a moment of Convergent thinking. This is important for me when I make an effort to become an entrepreneur.Divergent thinking entails discovery and development while convergent thinking comprises definition and delivery (Rowley, Munday & Polly, 2017). Diamond thinking makes use of these for steps. It can therefore help me to explore the idea and bring it back in the use or system again and again. Box thinking can either be inside or outside. Outside box thinking comprises incremental 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 the product 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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