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    MGMT3004 Wk3 230308pm

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    Lee
    This document discusses creativity and opportunity identification. It defines creativity as the production of something new that is also valued. When identifying opportunities, people should look laterally using intuition in addition to vertically testing ideas. Opportunities can come from societal trends, marketplaces, technology, economics and politics. Realizing opportunities requires understanding customers' explicit and implicit needs to develop a value proposition. A value proposition canvas is a tool to design products that address customers' pains and needs.

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    MGMT3004 Wk3 230308pm

    Uploaded by

    Lee
    25 views26 pages
    This document discusses creativity and opportunity identification. It defines creativity as the production of something new that is also valued. When identifying opportunities, people should look laterally using intuition in addition to vertically testing ideas. Opportunities can come from societal trends, marketplaces, technology, economics and politics. Realizing opportunities requires understanding customers' explicit and implicit needs to develop a value proposition. A value proposition canvas is a tool to design products that address customers' pains and needs.

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    MGMT3004, Week 3, Lecture Slides

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    MGMT3004_Wk3_230308pm

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    This document discusses creativity and opportunity identification. It defines creativity as the production of something new that is also valued. When identifying opportunities, people should look laterally using intuition in addition to vertically testing ideas. Opportunities can come from societal trends, marketplaces, technology, economics and politics. Realizing opportunities requires understanding customers' explicit and implicit needs to develop a value proposition. A value proposition canvas is a tool to design products that address customers' pains and needs.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    25 views26 pages

    MGMT3004 Wk3 230308pm

    Uploaded by

    Lee
    This document discusses creativity and opportunity identification. It defines creativity as the production of something new that is also valued. When identifying opportunities, people should look laterally using intuition in addition to vertically testing ideas. Opportunities can come from societal trends, marketplaces, technology, economics and politics. Realizing opportunities requires understanding customers' explicit and implicit needs to develop a value proposition. A value proposition canvas is a tool to design products that address customers' pains and needs.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 26

    Unit Coordinator

    Dr Philip Ely

    1
    Acknowledgement to Country
    Week 3: Opportunity Identification and the Creative
    Pursuit of Ideas
    (Chapter 5 of Frederick et al, 2019)

    3
    What is creativity?

    Oxford English Dictionary (2023 ) “creativity” accessed from:


    https://www.oed.com/view/Entry/44075?redirectedFrom=creativi
    ty&
    What it is
    to create
    (verb)
    Oxford English Dictionary (2023 ) “create” accessed from
    https://www.oed.com/view/Entry/44061?rskey=hJcCY9&result=
    2&isAdvanced=false#eid
    Creativity – from the literature

    …the production of something that is


    both new and valued…
    Neihart, M. (1998). “Creativity, the arts, and madness”. Roeper Review, 21(1), 47-50.

    …the balanced unfolding and


    converging of experience…
    Nyström, H. (1993). “Creativity and entrepreneurship”. Creativity and Innovation Management, 2(4), 237-
    242.
    Citing Richard Florida
    “Human creativity [is] the
    key factor in our economy
    and society…we now have
    an economy fuelled by
    human creativity.
    Creativity…is now the
    decisive source of
    competitive advantage”
    Florida, R (2004) The Rise of the Creative Class: And how
    it’s transforming work, leisure, community and everyday
    life. New York: Basic Books, p.5
    7
    Image of Mould (2018) Against Creativity published by Verso
    Books, available from
    https://www.versobooks.com/books/2852-against-creativity
    CREATIVITY TO BUILD-MEASURE-LEARN
    Can you spot the man’s head?

    10
    https://www.lifehack.org/512552/can-you-see-the-man-in-the-coffee-beans-most-people-cant
    True opportunity spotters identify
    opportunities laterally (through intuition
    LATERAL OR and gut feeling), but they analyse them
    VERTICAL? vertically (through testing and
    commercialisation processes).
    A Child’s
    Comprehend
    Approach: Why
    the Problem
    or Why Not

    THINKING Break Down the


    Think Externally
    OUTSIDE Issues

    THE BOX!
    Forget
    Reframe the
    Contemporary
    Concepts
    Solutions
    LEFT or RIGHT?
    Either/Or:
    black or white?

    The Need for


    Probabilities
    MINDSETS Security

    Stereotyping
    IDENTIFYING
    OPPORTUNITIES
    30 Years of Research
     Culture that contains symbolic
    rules
     Person who brings novelty
     Field of experts

    Csikszentmihalyi (1997) p.6


    Confirmation Bias

    Optimism Bias

    BIASES Hindsight Bias

    Planning Fallacy

    Sunk Cost Fallacy


    MANAGERIAL SHORT- FINANCIAL UNIQUENESS
    SIGHTEDNESS MISUNDERSTANDING

    PITFALLS
    LEGAL/REGULATORY LACK OF EXPERTISE
    SOURCES of OPPORTUNITY

    • Societal
    •
    Trend •
    Marketplace
    Technology

    s •
    •
    Economic
    Political
    • Environmental
    SOURCES of OPPORTUNITY
    MAPPING A VALUE PROPOSITION
    Pains + Features = Value Proposition

    Explicit Needs

    Implicit Needs
    REALISING
    OUR VALUE
    • Convenience/Performance
    • Cost/Price
    • Design/Risk
    SOURCES OF
    • Experience
    VALUE
    • New Market
    • Personalisation
    • Social Status
    A VALUE …a simple way to understand your
    PROPOSITION customers’ pains and needs, and to
    CANVAS design products that they actually want.
    Sketchnoting

    https://youtu.be/39Xq4tSQ31A
    26

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