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INNOVATION IN ENTREPRENEURSHIP
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OBJECTIVES:
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INTRODUCTION
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INTRODUCTION
Therefore, the ability to be creative & innovative is a key
to the survival of a business.
Example:
An
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DEFINITION OF CREATIVITY
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CREATIVITY
Usually, the process remains the same, but the approach people use
will vary.
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1.Knowledge
Accumulation
Creative
Process
3.Idea
experience
4.Evaluation
and
Implementation
BPME 1013 BASIC ENTREPRENEURSHIP
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PHASE 1: BACKGROUND OR
KNOWLEDGE ACCUMULATION
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CONTINUE PHASE 1
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Most difficult phase & requires a great deal of courage, selfdiscipline and perseverance.
Usually idea produced from Phase 3 is in rough form, it needs to be
modified, evaluated or tested to put it in final shape.
Entrepreneurs will fail several times before they successfully
develop their best ideas.
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1) Focus Group
2) Brainstorming
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FOCUS GROUPS
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BRAINSTORMING
1.
2.
3.
4.
The popular technique- A group method for obtaining new ideas &
solutions
Usually useful for generating ideas related to products or markets.
The brainstorming method is conducted in a conducive way, enjoyable
and free from pressure. However it must comply with 4 important rules;
Criticism & negative comments are not allowed. these will stop the
flow of ideas.
Free flow of ideas are encouraged. even funny/silly ideas!!
Quantity of ideas is desired. The more the ideas the better.
Combination of ideas are also encouraged.
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BARRIERS TO CREATIVITY
There are several barriers to creative thinking:
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CREATIVE ENVIRONMENT
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INNOVATION
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Right Hemisphere
Nonverbal
Synthesizing
Seeing Analogies
Nonrational
Intuitive
Imaginative
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4 TYPES OF INNOVATION
Invention
Extension
Duplication
Synthesis
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TYPES OF INNOVATION
Invention
-The creation of a new product, service or process which is novel and
untried. Ex:Wright Brothers-Airplane, Thomas Edison-lightbulb
Extension (Pengembangan)
-The expansion of existing product, service or process. Such concepts
make a different application of a current idea.Ex: Mobilephone-Size,
function, colour: shampoo Pantene new product with conditioner.
Duplication (Penyalinan)
-The replication of an already existing product, service and process. The
duplication effort is not simply copying but adding the entrepreneurs
own creative touch to enhance or improve the concept to beat the
competition. Existing product becomes the reference. Eg: Marrybrown
Synthesis (Sintesis)
-The combination of existing concepts and factors into a new
formulation. Taking a numbers of ideas or items already invented and
finding a way to form a new application. Eg:Internet (computer &
telecomunication system)
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SOURCES OF INNOVATION
1)Unexpected Occurrences
2)Incongruities
3)Process Needs
5)Demographic Changes
6)Perceptual Changes
7)Knowledge-Based Concepts
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DEMOGRAPHIC CHANGES
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UNEXPECTED OCCURRENCES
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PROCESS NEEDS
Eg; the process of taking good care of our health leads to: the
creation of health food, sugar-free drinks, supplementary foods,
minerals & vitamins, etc.
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KNOWLEDGE-BASED CONCEPTS
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INCONGRUITIES.
Eg: Mail delivery at night was at first thought to be not suitable for
express-mail business, but FedEx want something innovative. They
tried overnight mail delivery (deliver mails 24 hours day & night).
This innovation turned out to be a profitable business. So dont be
afraid to do something different!!.
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PERCEPTUAL CHANGES
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PRINCIPLES OF INNOVATION
1. Be action oriented.
Innovators must be active & always searching for ideas, opportunities or
sources of innovation.
2. Make the product, process or service simple & understandable.
People must easily u/stand how the innovation works.
3. Make the product, process or service customer-based.
Entrepreneurs must keep customers in mind. The more user-based the
product, the more it will be accepted.
4. Start small.
Innovators should attempt to do small scale projects. Incrementally tries
to proceed with big project in the future.
5. Aim high.
Innovators should aim high for success & seek niche in the m/place.
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PRINCIPLES OF INNOVATION
6. Try/test/revise.
Always follow the rule of try, test & revise. This will help work out any
flaws/defects in the product, process & service.
7. Learn from failures.
Innovation does not guarantee success. Failures often give rise to
innovations.
8. Follow a milestone schedule.
Follow schedule that indicates milestone accomplishments. Although a
bit ahead or behind schedule, it is still important to have a schedule in
order to plan & evaluate the project.
9. Reward heroic activity.
This principle applies more to those involved in seeking & motivating
others to innovate. Innovative activity should be rewarded & given
proper amount of respect. Management must tolerate & accept failures
in carrying out an innovation work. Innovative work must be seen as
heroic activity.
10. Work, work, work.
It takes work, not genius or mystery to innovate successfully.
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Technopreneur
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TECHNOPRENEURSHIP &
TECHNOPRENEURS
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2nd National Science and Technology Policy with the main focus:
i.
ii.
iii.
iv.
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es of Technology in Entrepreneurs
5 types of businesses where technology is greatly used;
Biotechnology
Agrotechnology
ICT
Automotive
Aerospace
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BIOTECHNOLOGY
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BIOTECHNOLOGY
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BIOTECHNOLOGY
Started 10,000 years ago by Egyptians, biotech has been used in the
manufacturing of beer, wine, vinegar, cheese & bread. (yeast)
Chinese has been said using Soya bean curds with mushrooms to cure
certain diseases. It becomes the first antibiotic being introduced to the
world.
The discovery of cheese & yogurt based on dairy that has been exposed
or expired. This is considered as good bacteria for the health of a
human.
Biotechnology has also been used in the pharmaceutical industry. Eg;
Penicillin is used in the treatment of infections & insulin to patients
suffering from diabetes.
Biotechnology has gained great importance in other areas for instance
bio-ethanol used as fuel, enzymes used in washing powder &
biodegradable plastic materials.
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Biotechnology Product
1930s
Penicillin antibiotics
1960s
Molecular Technology
1970s
1980s
1994
1997
21 Century
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USES OF BIOTECHNOLOGY
Biotechnology in food industry
-Helps in producing nutritious food, and vitamins. Example: production of
rice that contain beta-carotene, rich in Vitamin A.
Biotechnology in medicine industry
-production of insulin for diabetics patients.
Biotechnology and Environment
-Handling of waste from both industrial & agricultural production through
bio-degradation of toxic compounds.
-Cloning (the process of producing plants or animal from its tissues that
exactly the same as its parent. To achieve good quality plants and
animal in terms of color, size, nutritious contents,
-Nowadays, cloning becomes an issue whether the breed that has been
produced is safe or not for human consumption.
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AGROTECHNOLOGY
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AGROTECHNOLOGY
Among successful genetically modified plants that have been produced are;
better banana, paddy, ground nuts & plants with better quality such as more
output, shorter plant, early matured, tastier, and etc.
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ICT IN MALAYSIA
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ICT
Advantages to entrepreneur
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AUTOMOTIVE
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AUTOMOTIVE
Under the tax incentive, the vendor eligible for income tax
deduction on expenses incurred for the development of vendor
companies in terms of employee training, development and testing
and factory auditing.
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AEROSPACE
NSA has play its role and responsible for Malaysia aerospace
industry in the near future in promoting aerospace industry.
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AEROSPACE
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1 Agricultural
Biotechnology
2 Healthcare
Biotechnology
3
Industrial Biotechnology
4 Research
&
Development,
Technology Acquisition
5 Human
Capital
Development
6 Financial Infrastructure
Legal
&
Framework
Regulatory
Strategic Development
Transform and enhance the value creation of the agricultural sector through
biotechnology.
Capitalise on the countrys biodiversity for commercialising the discoveries of
health related natural products and bio-generic drugs.
Leverage on the countrys strong manufacturing sector to increase opportunities
for bio-processing and bio-manufacturing.
Establish centres of biotechnology excellence,
development, as well as technology acquisition.
through
research
and
Build the nations human capital through education, training and research
activities, with the aim of producing knowledge generation capabilities.
Provide the right financial support via competitive lab to market funding and
incentives to encourage committed participation from academia and the private
sector including Government-linked companies.
Strengthen the legal and regulatory framework by reviewing ownership of
intellectual properties and regulations relating to biotechnology processes and
business
Build international recognition for Malaysian biotechnology and find a niche in the
global biotechnology value chain.
9 Government Support & Realise the execution of the policy through the establishment of a dedicated and
Commitment
professional Government agency to spearhead the development of the
biotechnology industry with the incorporation of Malaysian Biotechnology
Corporation Sdn Bhd (BiotechCorp).
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RENOWNED TECHNOPRENEURS
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CONCLUSION
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