CREATIVITY AND INNOVATION

Creativity is the generation of ideas that results in the improved efficiency or effectiveness of a system. e.g.

Innovation is the process by which entrepreneurs convert opportunities in to marketable ideas.e.g.

Sources of Innovative Ideas

TRENDS: Social trends, Technology trends, economic trends, government trends.

UNEXPECTED OCCURRENCE: Unexpected Success; Apple computers, Unexpected tragedy; 9-11 terrorist attack.

PROCESS OF NEEDS: Online Banner Registration, Microwaves, Sugar free products, coffee free products.

INDUSTRY AND MARKET CHANGES: Health care industries: changing to home health care.

DEMOGRAPHIC CHANGES: Rest homes.

PERCEPTUAL CHANGES: Exercise and the growing concern for fitness. 

INCONGRUITIES: Overnight package delivery. 

KNOWLEDGE-BASED CONCEPT: Mobile phones technology, Pharmaceutical Industry devices; Robotics.

ACRONYM FOR SOURCE OF INNOVATIVE IDEAS;

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JEAN DESRAVINES FOCUS ON EDUCATION.

Name: Jean Desravines
Age: 40
Headquarters: New York City
2010 budget: $40 million

Profile

Bad school districts have a tough time recruiting the great principals they so desperately need. But even the worst districts usually have a few outstanding teachers. Solution: Recruit these teachers and train them to be principals through a yearlong New Leaders program.

15 FREE LEARNING SITES.

15 Free Learning Sites You Haven't Heard of Yet - Online College Search - Your Accredited Online Degree Directory Check it Out http://www.onlinecollege.org/2012/09/18/15-free-learning-sites-you-havent-heard-yet/

THE FABULOUS LIFE OF SAUDI PRINCE

Saudi Prince

Prince Al Waleed Bin Talal was a Royal Man and an Investor from Saudi Arabia, his net worth was about $20 billion. His personal Paradise in the world  is located in Riyad Saudi Arabia with 317 rooms, indoor and outdoor swimming pools, beauty saloon screening room, and beauty saloon, also he emplyed 100 workers for rescue and just had to sat in front of his 500 TV's and watch everything that going on. Prince Al-Waleed travels around the world with his 747 jumbo jet 40,000 cubic feet and cost $200 million.

E-LEARNING

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ALIKO DANGOTE : THE REAL LIFE OF GOLDEN CHILD.

Watch the fabulous life of African Billionaire (Aliko Dangote)  his Assets, Jets and how he runs his Venture.

THE FABULOUS LIFE OF FILTHY BILLIONAIRES VIDEO VERSION

Watch this Video to see how this billionaires Spent their money on Mansion, Jets, Mega yacht and lots more.

THE FABULOUS LIFE OF PAUL ALLEN

Fabulous Life of Filthy Billionaires.

PAUL ALLEN

Paul Allen Microsoft Co-founder was billionaire from Washington US with the net worth of $22 billion, he spent $120 billion in making his mega Compound  in Mercer Island Washington , his compound consist of five mansions: One Mansion that covers 10,000 sq is for Paul and the 6500 sq mansion is for his mom the others mansion according to reporter, might just be there so that he don't have anyone next to him and also a 400 feet of Lake Washington waterfront and a National Basketball Association regulation-sized gym (he owns the NBA's Portland Trailblazers). Paul's spaceship jet was the first spaceship to leave the earth atmosphere. He also owns 414 sq Mega yacht Called OCTOPUS and it cost him $200 million which makes leaves luxurious life in the sea. The mega yacht is equipped with 2 helicopters, swimming pool, basket ball court, movie theater, Allen is also know for throwing huge celebrities stubbed parties in his yacht .

Paul Allen's Mega Compound

SOCIAL ENTREPRENEURSHIP

Social Entrepreneurship is the process identifying social opportunity and translating in to an enterprise. A person who founds or engage in Social Entrepreneurship is called Social Entrepreneur: They are For example, one who is engage in Drugs and Alcohol counselling and remedial education program for disadvantaged employees are considered to be Social Entrepreneurs. Moreover, social entrepreneurship solve the problem of the bottom pyramid. 

Steps in Creating Social Venture.

1. Recognition of perceived social opportunity.

2. Translating the social opportunity into an entrepreneurial concept.

3. Identification and acquisition of resources required to execute the enterprise goal.
4. Heightened sense of accountability.

Examples of Social Entrepreneurs and what their Ventures they founded.

1. In 2006, Teach for America founder Wendy Kopp and City Year cofounders Michael Brown and Alan Khazei were profiled among U.S. News & World Report’s Top 25 Leaders.

2. Muhammad Yunus and his organization, the Grameen Bank, were awarded a Nobel Peace Prize. 

3. Victoria Hale of the Institute for OneWorld Health and Jim Fructerman of Benetech received “genius awards” from the MacArthur Foundation. They identify themselves as social entrepreneurs.
(Kuratko, Donald. Introduction to Entrepreneurship, 8th Edition. Cengage Learning UK, 3/14/09. p. 81).

COOPERATE ENTREPRENEUR

Cooperative Entrepreneurship also known as Intrapreneurship is the process where by an individual within an existing organization creates a new or initiate renewal of the products within the organization.

Ways That Organizations Can Encourage Intrapreneurship.
1.Management Support.
2.Time Availability.
3. Reward and Reinforcement.
4. Tolerate Failure.

ENTREPRENEURIAL STRESS

Entrepreneurs Stress is the inability of entrepreneur to perform requested work because the work has gone beyond his capacity as a venture initiator.


Causes Of Entrepreneurial Stress

1. Loneliness.
2. Immersion In Business.
3. Peoples Problem.
4. Need to Achieve.

Dealing With Entrepreneurial Stress

1. Networking.
2. Getting Away from it all.
3. Communicating with employees.
4. Finding Satisfaction Outside the company Delegation.

CHARACTERISTICS THAT ENTREPRENEURS SHARES

Common Characteristics that Entrepreneurs Shares:

1. Persistence:- They are always Willing to work until the job is done.

2. Creative:- They are continually looking for new ways to solve problems.

3. Inquisitive:- They always wants to know as much as possible about anything that might affect their venture.

4. Goal Oriented:- They decide where they want to go.

5. Self Demanding:- They always have high expectation of themselves.

6. Action Oriented:- They make decision and acts on it.

7. Enthusiastic:- They are energetic and passionate about their pursuit.

Dark Sides Of Entrepreneurship.

1. Family Risk – At the beginning of setting up a new ventures entrepreneurs creates family risks because they have no time to attend to family issues like looking after their children’s and wife. 

2. Occupational Risk – Some entrepreneurs leaves their job and starts a venture.

3. Financial Risk- starting a new venture requires a capital that is some entrepreneurs    while starting up a venture put in part of their savings and resources and if the   business was unsuccessful they will they loose.

INTRAPRENEURSHIP And Example

Ken Kutaragi the father of playstation

Intrapreneurship is the process where by an employee develop an innovative and creative idea in an organization, without asking to do so. for example,







Ken Kutaragi was working in Sony’s sound labs when he bought his daughter a Nintendo game console. Watching her play, he was dismayed by the system’s primitive sound effects. He realized that a digital chip dedicated solely to sound would improve the quality of the games — and the product itself. Keeping his job at Sony, Kutaragi developed the SPC7000 for the next generation of Nintendo machines. Sony execs nearly fired him after discovering his sideline project, but then-CEO Norio Ohga realized the value of his innovation and encouraged Kutaragi’s efforts. With Sony’s blessing, Kutaragi worked with Nintendo to develop a CD-ROM-based Nintendo. But Nintendo decided not to go forward with it, so Kutaragi helped Sony develop its own gaming system, which became the PlayStation. The first PlayStation made Sony a major player in the games market, but the PlayStation 2 did even better, becoming the best-selling game console of all time. Kutaragi founded Sony Computer Entertainment, one of the Sony’s most profitable divisions.

Also,

Lary Honbeck

TI researcher Larry Hornbeck had been tinkering for a decade with technology using tiny mirrors to redirect photons when his team developed the Digital Micromirror Device in 1987. DMD initially was used to print out airline tickets, but the government’s Defense Advanced Research Projects Agency initiated research in high-definition video and awarded TI and other manufacturers a multi-million dollar contract to work on the issue. TI execs started an internal venture called the Digital Imaging Venture Project and tapped Hornbeck to lead it. At the time, video projectors weighed 40 to 50 pounds and cost $15,000 to $18,000. Hornbeck realized DMD technology could greatly shrink the size and cost of a digital projector. Digital Light Processing quickly became an industry standard, dominating the market in projectors less than five pounds. The technology also has revolutionized the movie theater business and allowed Texas Instruments to compete in the HDTV market. Hornbeck received an Emmy for Outstanding Achievement in Engineering Development in 1998.