BUS131D_Lecture4_Handout0

BUS131D_Lecture4_Handout0 - The Role of Creativity in New...

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The Role of Creativity in New Ventures Dr. Michael Merz College of Business San Jose State University
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Dr. Michael Merz College of Business, San Jose State University 2 Today’s Agenda Creativity, Innovation, Entrepreneurship Types of Innovation Components of Creativity Creativity Blocks and Barriers to Creativity The Creative Process
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Dr. Michael Merz College of Business, San Jose State University 3 Creativity – the ability to develop new ideas and to discover new ways of looking at problems and opportunities; thinking new things. Innovation – the ability to apply creative solutions to problems or opportunities to enhance or to enrich people’s lives; doing new things. Entrepreneurship – the result of a disciplined, systematic process of applying creativity and innovation to the needs and opportunities in the marketplace. Creativity, Innovation, and Entrepreneurship
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Dr. Michael Merz College of Business, San Jose State University 4 Creativity and Innovation are Integral Parts of Entrepreneurship Creativity can benefit every function of a new venture. Creativity and innovation have become a core business skill and lie at the heart of new ventures’ ability to compete successfully with their larger rivals -> creativity as competitive advantage. A recent study by the SBA found that new ventures produce more economically and technically important innovations than larger firms. (CHI Research, U.S. Small Business Administration (SBA) Office of Advocacy, No. 225, February 2003)
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Dr. Michael Merz College of Business, San Jose State University 5 Types of Innovation Invention – totally new product, service, process, marketing, organization, or business model Extension
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BUS131D_Lecture4_Handout0 - The Role of Creativity in New...

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