Topic 4

Sustainable Ventures and Creativity

  • Entrepreneurial Themes:

    • Recommended Movies: Analyze ‘The Pirates of Silicon Valley’ or ‘The Social Network’. Discuss entrepreneurial personality, intelligence, competencies, and ethical behaviors.

  • Creativity and Design Thinking:

    • Thinking Concepts:

    • Design thinking, entrepreneurial alertness, brainstorming methods.

    • Sources of business ideas: experiences, hobbies, tech transfer, and SCAMPER tool.

  • Design Thinking Process:

    • Non-linear, iterative, human-centered; five phases:

    1. Empathize

    2. Define

    3. Ideate

    4. Prototype

    5. Test

    • Key features: Problem solving, decision making, innovation.

  • Entrepreneurial Alertness:

    • Ability to identify overlooked opportunities without formal search; important for entrepreneurial success.

  • Creativity in Business:

    • Creativity is a process of generating novel and useful ideas.

    • SCAMPER Technique:

    • Substitute, Combine, Adapt, Magnify (or Modify), Put to other uses, Eliminate, Rearrange.

  • Innovation in Small Businesses:

    • Imitative strategies vs. incremental improvements.

    • Identify new ideas derived from work experience, family, technology, and education.

  • Feasibility of Ideas:

    • Assess if an idea is viable and aware of impactful internal/external forces.

    • Conduct pilot testing for preliminary evaluations.