CREATIVITY &

INNOVATION

College of Engineering
PAF–KIET
 Phases of Creativity
4+1

Phase 1: Information / Knowledge / Preparation / Research

Phase 2: Incubation / Thought Process

Phase 3: IDEA

Phase 4: Evaluation

Phase 5: Implementation / Prototype

Note: For SUSTAINABLE business Creativity and Innovation

is a continuous process
Phase 1: Information / Knowledge / Research

 Gathering information about the area – our area is

Technology so we will gather as much info as we can
related to technology

 Looking for Problems, in our case related to

Technology

 Idea only comes within our knowledge range

 The more knowledgeable, the more chances of better

and doable idea

 You may set your time limits

 Phase 2: Incubation / Thought Processing

 Thought processing in this phase.

 This may happens anytime – walking, reading book,

traveling, playing, gazing stars…

 No time limits – idea can click in a day, week, month,

year…
 Phase 3: Idea

 That “click”, “Eureka”, “IDEA”, the “solution” to the

“problem”

 Shortest Phase – it is rather a Stage. You move on to

Next Phase 4
 Phase 4: Evaluation (Important)

 You weigh your idea in Real-world scenario

 You evaluate it – you map it with your area

 You evaluate with domain experts

 Critical thinking, Audit, market study, your limits

 "Some of the greatest creative ideas of all time can easily be

lost because they're not packaged in the right way”.

 Very Important Phase

 If this Idea fails in Phase 4 (Evaluation), you need to go back to

Phase 2 or you may modify/polish the idea in Phase 4.
 Phase 4+1: Implementation

 This is the Practical Implementation of your idea –

Creating the thing.

 In our case, Technology Entrepreneurship, this is the

start of Business Process.

 This Stage is where Edison said that it’s “1%

inspiration and 99% perspiration”.

 4+1 as this may be Prototype testing phase before

launching the business process (MVP later details)
 5 values for Customers

Example:
1. Toyota, iPhone 2. Imtiaz, Walmart,
3. McDonald, 7-11 4. TCS, Dell
5. Mercedes Virgin Atlantic Disney world iPhone.
Group Thinking Vs Individual Thinking.

Statistics shows 84% Vs 64% for ideas and

13% Vs 5% Good ideas. Results clearly shows
that Individual thinking is much better.

Reasons: Time wastage, hold ideas due to

evaluation apprehension, loss of concentration,
single track/followers...

Suggestion: Isolated brain storming and then

evaluating ideas by cross brain storming
 BMC
Business Model Canvas
BMC - Definition
 A Business Model Canvas is an "abstract
representation of an organization, be it conceptual,
textual, and/or graphical, of all core interrelated
architectural, co-operational, and financial
arrangements designed and developed by an
organization presently and in the future, as well as
all core products and/or services the organization
offers, or will offer, based on these arrangements
that are needed to achieve its strategic goals and
objectives."
BMC Components:
 Key activities
 Key Resources
 value propositions
 customer segments
 Customer/Sales channels
 customer relationships (Long-term)
 Key partners
 cost structure
 revenue streams
 Limitation
 Detail missing
 No Competition mentioned
 Hurdles
 No depth
 No risk mentioned
 Marketing & Sales Plan Missing
 Requires Business Plan later
Revenue model
 Identify your customers (customer ≠ consumers)
 Determine value proposition
 Evaluate revenue model options
 Select revenue model(s)
 Adapt and adjust
Assignment 2: CLO_1
 Each Group will think of an IDEA.
 List down activities of your Venture / Business
 List down customers
 List down Revenue streams
 List down Cost
 Evaluation Phase – 3 persons (domain experts)
 Cross Questioning session - Groups and myself will
audit the IDEA and other group will defend/justify.
 100 Rupees Business
 Each group will get a sealed envelop with cash
between 50 to 100 rupees.
 You will get 3 days to think of using the money and
your brain to generate as much money.
 On fourth day you will open the envelop to see how
much is inside and you will have whole one day to
generate revenue.
 You will present your activity in front of the class
and the highest money maker will be the winner.
 You will return the initial amount, the rest will be
yours 
Learning outcome:
 Various business models
 Business Planning
 Linking various activities
 Business minded, thought processing
 Knowledge, Idea, Opportunity.
 Systematic way of doing things
 Market need - MVP