The document discusses creativity, innovation, and identifying business opportunities. It defines creativity as the ability to produce novel and high-quality work, and innovation as converting opportunities into marketable ideas. The document outlines the four-step process of identifying opportunities: 1) identifying customer needs, 2) environmental scanning and self-analysis, 3) screening opportunities, and 4) selecting an opportunity and preparing a business plan. It also discusses encouraging creativity through brainstorming and the accumulation of knowledge, and different types of innovation including product, process, and paradigm innovation.

1. WHAT IS CREATIVITY?
Technopreneurship (WBB10102)
Creativity

2. Technopreneurship (WBB10102)

3. WHAT IS INNOVATION?
Technopreneurship (WBB10102)

4. iPhone iPad
Technopreneurship (WBB10102)
Innovation

5. Learning Objectives
1)Identify, evaluate and select business
opportunity.
2) Describe the process of creativity.
3) Explain the types of innovations.

6. The chain of entrepreneurship
Creativity & innovation are the first stages of
successful entrepreneurial initiatives
Creativity
Innovation
Entrepreneurship
Thinking New
Things
Doing New
Things
Creating
value in the
marketplace

7. Business Opportunity:
Identification, Evaluation
And Selection

8. • Every time something happens,
positive or negative, I ask myself,
WHERE is the OPPORTUNITY here?
• How do you spot an opportunity?
Keep your eyes open all of the time
Business is all about selling
a product or service

9. Business Idea and Opportunity
• A business idea starts with an opportunity.
• A business opportunity exists when there is
demand for goods and services to meet the
needs and wants of community.
• Changes in the environment create
opportunities; cultural, social, legal,
economy, political,& technology (C-SLEPT).

10. Illustrations – Environment
changes
• Good economic condition
–↑ demand luxury cars, homes
• Increase number of working
couples
–↑ demand maids, babysitter
• Introduction of ICT
–↑ demand computers, repairs,
knowledge, spare parts

11. Process of Identifying, Evaluating
and Selecting Business Opportunity
Identifyin
g
the
needs
& wants
of
customers
Step 1
Scanning
the
environm
ent
&
evaluating
of self the
communit
y
Step 2
Screening
of
business
opportuniti
es
Step 3
Selecting
a
business
opportuni
ty
&
preparing
a
business
plan
Step 4

12. Step 1: Identification of NEEDS &
WANTS of consumers
• Need – is something basic in life such as food,
drink, clothing and shelter.
• Want – is extension of need; craving for better
than the basic need.
– Need for food: Rice
– Want for food: Chicken Rice (Chicken Rice
Shop)
– Need for shelter: Renting a flat with 10
housemates
– Want for shelter: Renting a condo
• The better the economy of people, the more
business opportunities available for the
entrepreneurs.

13. • Human NEEDS and WANTS are unlimited.
• Next, translate the NEEDS and WANTS into
PRODUCTS or SERVICES.
• PRODUCTS – are physical forms e.g. car,
handphone, books.
• SERVICES – non-physical form, intangible
product e.g. cab service, telco network,
training.

14. Step 2: Environmental Scanning,
Self Analysis & Community Values
3 factors to be considered:
1) Environmental Scanning
- help identify business opportunities.
- 2 approaches:
i) Macro scanning
e.g. population, ethnics, average
income,
ii) Micro scanning
e.g. family size, Malay delicacies,
individual income.

15. Step 2: Environmental Scanning,
Self Analysis & Community Values
2) Self Evaluation
- to see what is available in oneself:
i) Experience
- match business with experience e.g.
engineer work with Public Work Dept
(JKR) will become a Civil Engineer.
ii) Knowledge & Skill
- do business on what he really knows
what to do e.g. Contractor must not
only knows how to manage his
business but also how to construct the
buildings.

16. Step 2: Environmental Scanning, Self
Analysis & Community Values
2) Self Evaluation (cont.)
- to see what is available in oneself:
iii)Financial situation
- business that is planned to be
implemented must match with financial
ability. E.g. Land owner can do housing
business.
iv) Interest
- select business based on his interest
e.g. a person with gardening hobby
can open nursery.
v) Networking
- good networking generate business
opportunity e.g. trading

17. Step 2: Environmental Scanning,
Self Analysis & Community Values
3) Values/Norms of the Community
- business opportunities need to be
coordinated with the religious’ and society’s
values or norms.
- Values and Norms = what is perceived as
useful and beneficial to the community.
- E.g. Incinerator in Kuala Langat, Nuclear-
powered electricity generator, poultry farm
nearby residential areas.

18. Step 3: Screening of Business
Opportunities
• Legality:
- ensuring the business opportunity is a legal one.
- E.g. selling pirate DVD, imitate product e.g. Crocs.
• Degree of competition;
- choose business that is not monopolized.
- E.g. supplying Sugar
• Capital requirements:
- to identify sufficient funds to finance the business.
- E.g. own money, debt financing, FDI.
• Risks involved:
- expecting the potential uncertainties & considering
the percentage of success & failure.
- E.g. sell 2nd hand cars

19. 2 types of risks:
1) Business Risks:
Types of
Business Risks
Description Examples
Transferable
Risks
Risk that can be
transferred to
another party.
Insurance scheme that cover
fire, stolen stocks and accident
at work.
Controllable
Risks
Risk that can be
somewhat controlled
by an entrepreneur.
Cannot fully control the
situation involving market
expectations, labor turnover,
product quality & machine
breakdown.
Uncontrollable
Risks
Risk that cannot be
controlled by an
entrepreneur.
Economic downturn, natural
disaster e.g tsunami.

20. 2 types of risks:
2) Financial Risks:
Types of
Business Risks
Description Examples
Liquidity level
Low liquidity – problem of setting
short term debt; Too high
liquidity – overspending.
Lack of stocks, too much cash
in hand
Loan
Risk due to non-servicing of
financial loan.
Finance business through
bank’s loan – still have to pay
bank monthly despite no profit.
Credit
Risk when company give credit
facility to customers.
Buy on installment - potential
to be bad debt if not able to
recover from customer for a
long period of time.
Foreign
exchange
Risk due to increase or
decrease of foreign currency
rate.
Import/Export business – RM
foreign product expensive;
RM our product becomes
cheap => Profit Margin

21. Technology is perhaps the
most dramatic force
shaping the marketing
environment.
Here, a herder makes a
call on his cell phone
• Simply understand that there is little
difference between obstacle &
opportunity
– able to turn both to their advantage
•The opportunities for potential
entrepreneurs are unlimited.
Seeing Opportunities

22. Step 4: Selecting a business
opportunity and preparing a
business plan
• After fulfill step 1 to 3,
it is time for the entrepreneur to
select a business opportunity.
• Then to prepare the business
plan.

23. Process of Identifying, Evaluating & Selecting
Business Opportunity
Identifyin
g
the
needs
& wants
of
customers
Step 1
Scanning
the
environm
ent
&
evaluating
of self the
communit
y
Step 2
Screening
of
business
opportuniti
es
Step 3
Selecting
a
business
opportuni
ty
&
preparing
a
business
plan
Step 4
Summarize

24. Business Creativity

25. “the ability to produce work
that is novel (i.e. original
and unexpected), high in
quality and appropriate (i.e
useful, meet expectations)
What is CREATIVITY??

26. Knowledge Accumulation
Process of Creativity
Incubation
Ideas
Evaluation &
Implementation
• Compile all info/data.
• Via reading, investigation
• Try get rid of problems.
• Generate creative ideas.
• Slowly formulating
solution.
• Transform idea into
reality, then into business
activities.

27. Brainstorming
Methods to Generate Creative Ideas
Forced Analogy
Do It
Mind
Mapping

28. Business Innovation

29. “the process by which
entrepreneurs convert
opportunities into
marketable ideas.”
What is INNOVATION??

30. •A new product or service
•Enhancement of an existing product
•A new market for an existing product
•A new application for an existing product
•A source of grants or awards
•Better arrangements with suppliers
•Better promotion & advertising
•Greater efficiency of ordering
•New contact sources
Business
Idea

31. Forms on Innovation
• Product Innovation: the changes in the things (product or
services) that an organization offers. E.g. new design of car, new
generation of aircraft A380.
• Process Innovation: the changes in the ways in which
product/services are created and delivered. E.g. JIT
Manufacturing.
• Position Innovation: the changes in context in which
products/services are introduced. E.g. Johnson & Johnson product
not only for babies, but also for adult.
• Paradigm Innovation: the changes in underlying mental
models which frame what the organization does. E.g. shift to low-
cost- airlines, online insurance.

32. Innovation
Process by which entrepreneurs convert
opportunities into marketable ideas. It is the
means by which they become catalysts for
change.
Definition
Creativity
The generation of ideas that result in the
improved efficiency or effectiveness of a system.
Are they the same???
Ideas that improve
Efficiency/effectiveness
of a system
Turning ideas into
Marketable
Goods / Services
3.1 Business Opportunity
3.2 Business idea
3.3 What is Innovation?
Strategies to Encourage Creativity & Innovation

33. Types on Innovation
• Invention: the creation of a new product,
service, or process, often one that is novel or
untried.
• Extension: the expansion of a product,
service, or process already in existence.
• Duplication: the replication of an already
existing product, service, or process.
• Synthesis: the combination of existing
concepts and factors into a new formulation.

34. SATRIA
WAJA
GEN 2
PERDANA
WIRA
Example :
Creativity & Innovation in
PROTON
Source:
Kretiviti & InnovasiKAKS 2007 –
Datin Prof.. Madya Norlela Nuruddin
(MEDEC)Uitm,S.Alam
I have always been bored with just making money
I have wanted to do things; I wanted to build things
Walt Disney
INNOVATION Experiences
Discuss in a group & present to the class
SAGA
ISWARA

35. TARGET INDUSTRIES
Aviation &
Aerospace
Automotive Medical &
Health Services
Oil & Gas
Biotech/
Bioprocess
Marine
Engineering
Electrical &
Electronics
ICT
Building
Technology
Transport &
Logistics
120 110 75
30 40
No of Techno
170
295 50
75 35
No of Techno

36. Business Opportunity
Business Idea
What is Innovation?
Strategies to Encourage Creativity
and Innovation
Conclusion

37. FOR YOUR
PRECIOUS
ATTENTION