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Creativity and Innovation Overview

Unit 1 covers the concepts of creativity, innovation, and entrepreneurship. Creativity involves generating new ideas, while innovation focuses on transforming those ideas into practical products or services. The document also outlines various types of innovation, including product, process, and business model innovations, and emphasizes the importance of co-creation with customers.

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4 views2 pages

Creativity and Innovation Overview

Unit 1 covers the concepts of creativity, innovation, and entrepreneurship. Creativity involves generating new ideas, while innovation focuses on transforming those ideas into practical products or services. The document also outlines various types of innovation, including product, process, and business model innovations, and emphasizes the importance of co-creation with customers.

Uploaded by

gauravgupta2666
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

(UNIT-1) CREATIVITY, I…

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Your file (UNIT-1) Creativity, Innovation and Entrepreneurship covers many
important topics.

Here’s a simple and short summary (easy method) for Unit 1

Creativity
Thinking of new and original ideas.
About imagination and “thinking differently.”

Example:
Thinking of a solar-powered car.

Innovation
Turning creative ideas into useful products or services.
About doing something new.

Example:
Actually building and selling that solar-powered car.

Types of Innovation
1. Product – New products (e.g., electric cars).

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2. Process – Better production or delivery (e.g., online payments).
3. Business Model – New way of earning money (e.g., Netflix subscriptions).
4. Service – Better customer service (e.g., food delivery apps).
5. Marketing – New ways of promotion (e.g., influencer ads).
6. Organizational – New company structure (e.g., remote work).
7. Green/Sustainable – Eco-friendly ideas (e.g., solar gadgets).

Business Model Innovation

Changing how a business works — how it earns, spends, and serves customers.
Example: Netflix changed from DVD rentals → streaming service.

Co-creation
Working with customers to create products.
Example: LEGO asks

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