Wednesday, March 20, 2013

Post 2 (KEE120057)


In the fourth week, I have learnt the importance of creativity and innovation in conducting a business. Creativity involves development of idea without limits and it is solution to problem. Meanwhile, innovation is a method to invent a new product or to modify existing products to become better. According to Kuratko and Hodgettts, there are four phases in the creativity proses, i.e. assimilation of knowledge, incubator, idea generation and lastly assessment and implementation. A creative entrepreneur possesses some positive characteristics and there are five main ways to generate creative or innovative idea. Idea can be generated either by brainstorming, forced analogy(linking two different sub-idea), implementation (to identify potential problems), mind map or nominal grouping. There are four main types of innovation, i.e. invention, expansion, duplication and integration. At the end of lecture, hindrances to creativity and ways to stimulate creativity also be presented.
It has been known that creativity and innovation are keys to success for an entrepreneur. However, by attending this course, I have been taught of ways to generate creative idea(in which I had not been exposed before). Creativity is not limited only to the field of business, but it applies to many aspects in our lives.
An entrepreneur should not be satisfied with his achievement. He should be creative and innovative in order to stay competitive. A competent entrepreneur will be able to stand out of the others as well as boasting local economy.  

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