Developing Next Generation Leaders through Applied Know-How Creativity and Innovation Nature of Innovation: Making the Idea a Reality Teaching Assistant , darija aleksić, PhD, FELU (darija.aleksic@ef.uni-lj.si) Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Human Face Scavenger Hunt Using one of your many cameras (digital, phone etc.), find an example of a human face. Take a photo and email to me. RULE 1: The face cannot be manipulated to appear but must be natural. RULE 2: No duplicates! Keep an eye on what your classmates are doing. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Creativity and innovation Creativity is an important antecedent and precondition for innovation. Necessary, but not sufficient condition. Innovation is the implementation of creative ideas. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Creativity and innovation https://www.slideshare.net/JayManahan/the-lifecycle-of-an-idea Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Creativity and innovation The Life Cycle of Ideas Idea Number of ideas Selection Development Introduction Market Transforming invention into innovation INVENTION INNOVATION Source: http://www.imamidejo.si Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

From Creativity to Entrepreneurship Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Innovation … is the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relations.” (OECD, 2005, p. 46) Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Innovation Innovation involves the whole process from opportunity identification, ideation or invention to development, prototyping, production, marketing and sales, while entrepreneurship only needs to involve commercialization (Schumpeter). Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Elements of innovativeness Product&service vs. process Technological vs. Non-technological Innovations Innovative culture Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Innovation An innovation is considered performed if it is introduced to the market (product innovation) or implemented in the production process (process innovation). Technological innovations are defined as new products and processes and major technological modifications to products and processes. Many innovations are of a non-technological nature, for example in areas such as marketing, organisation, management and design. Non-technological innovations are all innovation activities that take place within a company, and do not include a technical component. Nevertheless, technology is used as an enabler to support most of today's innovations, even when technology is not the main focus or driver of the innovation. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Innovation Traditionally the focus has been on new products or processes, but recently new business models have come into focus, i.e. the way a firm delivers value and secures profits. IBM 2010 Global CEO Study: three key factors for long-term competitive advantage: creativity, business model innovation, closeness to customer. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Types of Innovation Trott, P. (2013). Innovation management and new product development. Pearson education. Source: Trott, P. (2013). Innovation management and new product development. Pearson education. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Linear models of innovation Source: Trott, P. (2013). Innovation management and new product development. Pearson education. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Interactive model of innovation Source: Trott, P. (2013). Innovation management and new product development. Pearson education. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Explanations for innovative capability Source: Trott, P. (2013). Innovation management and new product development. Pearson education. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Top 10 Most Innovative Companies in the World Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

Characteristics of successful innovating companies Systematic collection of all impulses that could lead to innovation Creative employees Ability to evaluate the possibility of the innovation idea Good team work Project-based approach and ability to manage projects Cooperation with external experts (universities, research laboratories…) Proper rate of risk-taking Employees’ motivation (the employees are willing to improve the product and the operation of the whole company) Continued education of employees Ability to finance the innovation activities Innovators do not view any change as a threat but as an opportunity. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851

5 Myths of Innovation Innovation is planned and predictable Technical specifications should be thoroughly prepared in advance Creativity relies on dreams and blue-sky ideas Big projects will develop better innovations than smaller ones, and Technology is the driving force of innovation and success.  There are several myths associated with innovation that are covered in the literature. Developing Next Generation Leaders through Applied Know-How project number: 2015-1-MK01-KA202-002851