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Entrepreneurial Creativity and Innovation
Table of Contents
Task 1
Competence Analysis
Skill Audit
SWOT Analysis
FACETS Framework:
Task 2
Cases of Creativity and Innovation
References
Task 1
Competence Analysis
In order to meet the challenges of future careers and to be competitive in the market it becomes essential for individual to develop skill, knowledge and behavior as per increasing competition in the market. In this, to enhance entrepreneurial and creative potential, it becomes essential for individual to be familiar with his/her present skills, knowledge and behavior so that required skills, knowledge and behavior can be learned. There are several models and theories available, which can be used by individualsto develop their competence level and creativity to stay in the global market (Asams, 2005). As a part of this, SWOT analysis and FACETS framework can be used by individuals.
Skill Audit
SWOT Analysis
To be familiar with personal skills and loop holes, SWOT analysis is an important concept. It is because it helps individual to assess personal strength, weakness, opportunity and threat. Byconducting SWOT analysis, it would be easy for individual to be familiar with the needed skills, knowledge and behavior to be creative and innovative to generate the idea to be successful entrepreneur (Dumitrescu, 2012).Below is the SWOT analysis:
Strength:
Effective communication skills
Problem solving skills
Time management skills
Adaptive
Presentation skills
Team management skills
Weakness:
Poor to initiate any work
Lack in self-confidence
Poor in verbal skills
Poor in leading people
Opportunity:
Develop creativity and innovative skills
Propose new ideas and views to take initiatives
Involve in different tasks and assignments to improve self-confidence and skills
Improve practical skills
Develop personal and team skills
Threat:
Rapid changes in business environment
Tough competition
To be adaptive and flexible to do business in different situations
Through the SWOT analysis, it would be possible for me to take sufficient steps to be creative and innovative entrepreneur by overcoming my weakness. On the basis of personal analysis, it would be also easy for me to know, what enterprises skills are needed to perform my roles and responsibilities effectively and efficiently.
FACETS Framework:
On the basis of SWOT analysis, I know about my strong and weak areas, which helped me to use wide range of models and theories to improve my strengths and overcome my weakness. In this, FACETS frameworkis used to assesswhat skills are needed to be successful entrepreneur in the competitive marketplace.Thus, in order to assess key enterprise skills, use of this model would be helpful. Below is the diagram of this model.
(Source: Bolton and Thompson, 2013).
On the basis of above model, it is identified that time; action and target are the main focus point to be successful entrepreneur. Thus, time management skills, action oriented skills and setting achievable and clear target are considered as main enterprise skills. Similarly, in order to be successful and creative entrepreneur, individual needs to be ambitiousand have desire to get succeed by selecting growth opportunity in the competitive market (Dumitrescu, 2012). It is because without having ability to gain advantage from the environment, it would be difficult for any person to improve his/her enterprise skills. Creativity is also considered as enterprise skill, which is needed for enhancing entrepreneurial and creative potential. It is because under this, individual can generate ideas and by finding appropriate solution to execute such idea, he/she can get opportunity to be successful (White, King and Tsang, 2011).
For instance, by generating a creative idea of opening new fast food street store, which offer fast food, drinks and space while reading. One can enhance his entrepreneurial and creative potential by involving creativity in this business idea. It is because byinvolving creativity and finding appropriate strategies to attract and retain customers, entrepreneur can get success in this field of business. In this, by having clear and effective vision, flair and imagination would be on prior, which will motivate the entrepreneur to precede this idea into reality.By using appropriate means entrepreneur can get opportunity to be successful (Hawkins, 2013).
In addition to this, ego is also essential as enterprise skill in order to be successful. In this, focus, advantage and creativity are considered as talents, which the entrepreneur needs, but ego is about the temperament, the motivation to make it happens. In this, self-assurance,dedication and motivation are considered as ego, which are related to the desire to achieveby being different in the market to leave footprints (Asams, 2005). Similarly, one should have internal locus of control, a desire to be in charge of his or her own destiny to ensure positive expansion inentrepreneurial and creative potential. It is because it includes responsibility and accountability and, especially significant, courage, an ability and willingness to deal with setbacks (Lowe and Marriott, 2006). These skills are required to enhance entrepreneurial and creative potential.
Apart from this, individual needs team management skills and capabilities to work effectively and efficiently. It is because single candidatecannotexecute and run any idea. In order to get success in any idea, one needs a team. Thus, by ensuring team management skills and knowledge, entrepreneurial and creative potential can be enhanced by grasping positive points of others (White, King and Tsang, 2011). Social aspects should be considered by individual to enhance his/her entrepreneurial and creative potential. In this, involvement of needs and preferences of society, protection of social beliefs and values, follow legal and social rules and standards, etc. are considered as social aspects, which one should grasp to enhance entrepreneurial and creative potential. It is because it will help to enhance, skills and capacity to bear and face risks and turn them into opportunityto be successful entrepreneur (Hawkins, 2013).
Overall, from the view of Bolton and Thompson (2003), “creativity provides the opportunities, advantage selects, and focus delivers” to enhance enterprise skills (Bolton and Thompson, 2013).
At the same time, creativity tests, and creativity models and theories including Whole brain model, Hermann’s (2003) model of the creative process, Divergent and convergent thinking and other theories can be followed by individual to enhance entrepreneurial and creative potential and to be successful entrepreneur (Lowe and Marriott, 2012).
Task 2
Cases of Creativity and Innovation
In order to evaluate creativity and innovation, three cases from Design Council case studies are taken. These cases are concerned about the innovation and creativity in organizational practices and actions to ensure positive growth of firms in competitive market.Cases of Sugru, The Department for Business, Innovation & Skills (BIS) andKnee High Design Challenge are selected to know about the process of creativity and innovation, which these firms use for their products and services.
In the case of BIS, BIS is the government department responsible for economic growth.In order to navigate organizational employees and improve working environment, the firm introduced a project named “The wayfinding project”, which aim to introduce the process, which may improve business environment to increase performance of employees to offer better services to customers (Case Study of The Department for Business, Innovation & Skills, 2015).
During the process of innovation, systematic steps are followed by the firm. As a part of innovation, the firm appointed a design agency to design and develop a navigational solution. In the next step, the firm refines the initial design according to user feedback before implementing it building-wide. As a part of innovation,piloting of different designs is followed to find out the best design solution (Case Study of The Department for Business, Innovation & Skills, 2015).Through the use of defining relevant and needed skills and experience, success of this innovation was assured by the firm.
At the same time, Sugru is a worldwide phenomenon. Expert business advice was paramount in the root of the business as a part of innovation. The firm follows creativity and innovation by using innovative material to repair and recycle products. In order to make unique ideas, the firm upgraded its technologywithin the materials landscape. Additionally, Design Associates also led to the team through a practical process to help the firm to use design to boost performance, open new markets, cut costs and reduce risk (Case Study of Sugru, 2015). Thus, creative and analytic sessions are the core ofDesign Council, which help the firm to take innovative and creative decisions.
In last case of Knee High Design Challenge, innovate, involve and learn are key aim of the firm, which reflects its efforts towards innovation and creativity. As a part of the innovation, the firm researches and reframes problems, to identify causes of problem and relevant idea to overcome such problem. The firm brings together the entrepreneurs, who want to increase the impact of their work, and local parents, who want to improve things in their community.The firm follows five steps to generate innovativeand creative idea. In this, first step is to invent new idea, in which applicants submit their ideas (Knee High Design Challenge, 2015). Second step is to build ideas, in which ideas are improved with the discussion with families. Third step is grow, which is related to runningexperimentsto measureand improveimpactof the idea over families and children. Fourth step is improvement, in which right teams are brought together to build the product or service through testing a business model and forming relevant partnership. Last fifth step is concerned about sustaining the generated idea into action. In this step, further funding and support are gained by the firm so that more innovation and creativity can be introduced (Knee High Design Challenge, 2015).
On the basis of above discussion, it is identified that different steps and actions are taken by different firms to develop their products and services.
Through the cases, it is also identified that innovation in these firms camefrom the changes in external business environment. In context of BIS, innovation came due to changes in environment, which affected working culture and performance of employees (Dumitrescu, 2012). It forced firm to adopt innovative and creative design to overcome such problem. Apart from this, in case of Sugru, innovation came due to rapid changes in technology and demand of customers to avail cost effective products and services, while in case of Knee High Design Challenge, innovation came due to impact over the imagination of family members (Hansen and Birkinshaw, 2007).Additionally, in all these cases, changes, team working, innovation management teams and skills, etc. drive the creative spark positively.
These steps of all firms are forged into effective innovation through the more focus over effective tools and techniques. It is because preferences of customers are changing rapidly, which also bring several changes in working environment. Thus, by analyzing these changes and aligning these with innovative actions, these can be transformed into more effective innovation. According to the cases, innovations in these firms haveincremental impact due to having positive impact over organizational growth and sustainability (Dumitrescu, 2012).
Innovation adds value to BIS, Sugru and Knee High Design Challenge by adding worth to organizational products and services. It is because needed amendments are made by firms in their services and products as per requirements of customers, which is effective for firms to increase satisfaction among their customers, which add value for firms as well as for their customers (Dumitrescu, 2012). It is because external environment is researched by these firms before taking any innovation and decisions. It helps firms to include the aspects and features in their services and products as per customers’ needs and expectations along with considering changes in environment (Hansen and Birkinshaw, 2007).
Thus, through the case analysis,it can be stated that innovation and creativity are foundation for long term sustainability of firms. It is because innovation and creativity add value to firms by increasing chances of growth and success by meeting expectation of society and communities.
References
Asams, K. (2005) The Sources of Innovation and Creativity. [Online]. Available at: [Accessed: 04 February 2015].
Bolton, B. and Thompson, J. (2013) Entrepreneurs: Talent, Temperament and Opportunity. USA: Routledge.
Case Study of Sugru. (2015) [Online]. Available at: [Accessed: 04 February 2015].
Case Study of The Department for Business, Innovation & Skills. (2015) [Online]. Available at: [Accessed: 04 February 2015].
Dumitrescu, D. (2012) Road Trip to Innovation - How I Came to Understand Future Thinking. USA: Satzweiss.com.
Hansen, M. T and Birkinshaw, J. (2007) The Innovation Value Chain.[Online]. Available at: [Accessed: 04 February 2015].
Hawkins, H. (2013) For Creative Geographies: Geography, Visual Arts and the Making of Worlds. USA: Routledge.
Knee High Design Challenge. (2015) [Online]. Available at: [Accessed: 04 February 2015].
Lowe, R and Marriott, S. (2006) Enterprise: Entrepreneurship and Innovation : Concepts, Contexts and Commercialization. USA: Routledge.
Lowe, R and Marriott, S. (2012) Enterprise: Entrepreneurship and Innovation. USA: Routledge.
White, B., King, I and Tsang, P. (2011) Social Media Tools and Platforms in Learning Environments. USA: Springer Science & Business Media.