CREATIVITY AND INNOVATION

CREATIVITY: is the generation of ideas that results in the improved efficiency or effectiveness of a system.
INNOVATION: is the process by which entrepreneurs convert opportunities (ideas) into marketable solution.
SOURCES OF INNOVATIVE IDEAS.

• Trends: societal trends like health, fitness growth

             economic trends like higher disposable income
             government trends like increased regulations
             technology trends like internet advances.

• Unexpected occurrences: unexpected success like apple computer (microcomputers)

                                        unexpected tragedy like terrorist attack.

• Incongruities like overnight package delivery.
• Process needs like sugar free products

                                        caffeine free coffee
                               microwave ovens

• Industry and market changes: health care industry changing to home health care.
• Demographic changes: retirement communities for older people.
• perceptual changes: exercise (aerobics) and the growing concern for fitness.
• knowledge based concepts: mobile (cell phone) technology, and robotics. 

SOCIAL ENTREPRENEURSHIP

SOCIAL ENTREPRENEURSHIP

Social entrepreneurship is the consideration of a social problem and the uses of entrepreneurship skills to organize, create and manage a business to achieve a desired and make changes. but a  business entrepreneur typically measures performance in profit and return, a social entrepreneur also measures positive returns to society. Thus, the main aim of social entrepreneurship is to further broaden social, cultural, and environmental goals. Social entrepreneurs are commonly associated with the voluntary and not-for-profit sectors, but this need not preclude making a profit.   

                              Social entrepreneurship practiced with a world view or international context is called international social entrepreneurship.

what are their common characteristics.

They are CONFIDENT
                           COMMITTED
GOAL ORIENTED
                      DETERMINED
they are CREATIVE
                       AGGRESSIVE
they have SENSE OF POWER
                         NEED TO ACHIEVE.

The world billionaires

We all know about Bill Gates, Oprah Winfrey and other people who are famous for their money, but there are some people who are also extremely rich but behind the scene...like Larry Ellison- $16 billion, Google guys-$26 billion, Richard Branson-$ 3 billion, Saudi prince- $ 20 billion, Mark Cuban - $ 2 billion, Paul Allen - $ 22 billion, sultan of Brunei - $ 20 billion, Jeff Becos - $ 4 billion.

Larry Ellison

      Larry Ellison who is an internet guru and the CEO of Oracle are now ranked the 3rd richest man in the States. At the age of 68, he has a net worth of about $16 billion as at September 2012. He has been ranked as the 6th richest billionaire in the world and has had a lot of achievements. Recently, he bought 98% of the Hawaii Island which costs about $500 million. He bought the 141-square mile island along with two resort hotels and a housing development from a fellow billionaire, David Murdock. He owns about $245 million all around the world.
      Larry spends his money on a lot of luxurious things. He owns mansions in various parts of the United States of America, and guesses the fun part! He buys all the houses surrounding these mansions so that he doesn't get disturbed by nosy neighbours! Guess being filthy rich does pay off... He has a passion for yachts with his latest being the 'rising sun' with an estimated cost of about $200 million, designed by Jon Bannenberg with a tremendous length of 453 ft making it the 10th largest yacht!

Sultan of Brunei

The present Sultan of Brunei, Hassanal Bolkaih, has the biggest palace on earth. His networth is not estimated but we know for sure that he is a billionaire! The palace has an estimated landmass of 2.1 million square feet! Wow right! Its ceiling is made up of gold, in other words, its gold domed  and it has about 1788 rooms, making it bigger than the Vatican! The dinning room can seat about 5000 people, what a way to spend money.

To know more about these people, you could watch the videoclip 'The fabulous life of the filthy rich billionaires'http://www.youtube.com/watch?v=Lt89AYksS5k

MY EXAMINATION SCORE ON ENTREPRENEURSHIP

I took an examination on entrepreneurship last week and i scored 96% wow.

THE NEED FOR CORPORATE ENTREPRENEURING

One of the  need for corporate entrepreneur are:
    Internationale competition
    Downsizing
     Rapid growth
     Improve  efficiency and productivity

HOW CAN THEY ENCOURAGE CORPORATE ENTREPRENEUR:
     Management support: management are to encourage employees to believe that innovation is a role set for all organizational members.
      Autonomy; organization should allow employees to make decisions about their work process and how they can make their work more effective.
      Reward: employees should be given promotion because it will motive the individuals to engage in innovation behavior.
      Time availability: employees should be given time to incubate innovation ideas.
       Organizational  Boundaries:organization should avoid having standard operating procedures for all major parts of jobs.