Entrepreneurship

Kabaly P SubramanianArab Open UniversityMuscat

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Creative Thinking

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Connect the nine points below using not more than four straight lines. Without lifting the writing instrument and overlapping lines.

O O O  O O O O O O

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Solution

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Solution

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Solution

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Myths about creative thinkingEvery problem has only one

solutionThe best solution has already

been foundCreative solutions are complex

technologicallyIdeas either come or they don’t

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Positive attitudes for creative thinkingCuriosity Challenge existing ideas and solutionsConstructive discontent A belief that most problems can be

solvedSeeing the good in the bad ( Velcro tape)Imaginativeperseverance

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Attitudes that blocks creative thinkingOh no, a problem!It can’t be doneI can’t do itI am not creativeI might fail

Innovation is the key to entrepreneurship

What is Innovation?The key to innovation is problem

solving, identifying ways of improving the way you find answers to (big) problems.

Innovation in ProductiPod, iPad (Tablet Computing)Lesson : Question the status quo

Innovation in ServicesiCloud,FedEx,….Owning to rentingLesson : Think upside down

Innovation in ProcessAssembly Line Production

systems

Value Innovation Case : Accor group of Hotels

Innovate for Value

Prepare a list of factors on which the industry competes Eating facilityArchitectural AestheticsLounge appealRoom size24-hour receptionRoom furniture and amenitiesBed qualityHygieneSilencePrice

Four Actions framework

Which factors should be reduced well below the industry standard

Which of the factors that the industry takes for granted should be eliminated?

Which factors should be raised well above the industry’s standard?

Which factors should be created that the industry has never offered

A new value

ERRC Grid

Eliminate Raise

Reduce Create

The case of Accor's Formule 1

Formule 1 Room

Formule 1 Reception

Lesson : Challenge the Industry

Standards

What are the big problems?Poverty, climate change, ageing

population, food and water security, education,…

Solution : “INNOVATE”

ReferencesBlue Ocean Strategy : W. Chan

Kim, Renée Mauborgne

Thank You