Michael Porter Peter Drucker Schumpeter’s Theory of Innovation Critical Difference Between Creativity and Innovation

1. Dr Joseph K.K. Ho
What is
Innovation?
as distinct from
Invention and
Creativity
Managing Innovation
& Technology
Transfer

2. NAME OR LOGO
Michael Porter
Peter Drucker
Schumpeter’s Theory of Innovation
Critical Difference Between Creativity
and Innovation
2
©2019DrJosephK.K.Ho

3. NAME OR LOGO
Michael Porter
Reference:
Michael E. Porter (1990) “The Competitive Advantage of Nations”
Harvard Business Review MARCH–APRIL 1990 ISSUE
https://hbr.org/1990/03/the-competitive-advantage-of-nations
3
“Companies achieve
competitive advantage
through acts of innovation.
They approach innovation in
its broadest sense, including
both new technologies &
new ways of doings things”
© 2019 Dr Joseph K.K. Ho

4. NAME OR LOGO
Peter Drucker
Reference:
Antonio Martina (2018) | 7 Lessons From “Innovation and Entrepreneurship” By Peter F. Drucker | Medium.com
https://medium.com/@antoniomartina/7-lessons-from-innovation-and-entrepreneurship-by-peter-f-drucker-d7953127b3b5
4
“Innovation is the specific tool of
entrepreneurs, the means by which
they exploit change as an opportunity
for a different business or service. It
is capable of being presented as a
discipline, capable of being learned,
capable of being practiced”
© 2019 Dr Joseph K.K. Ho

5. NAME OR LOGO
Schumpeter’s
Theory of Innovation
• the major reason for increased
investments and business fluctuations
• involving opportunity identification,
ideation or invention, development,
prototyping, production marketing and
sales
© 2019 Dr Joseph K.K. Ho
5
Reference:
BUSINESSJARGONS.COM | Schumpeter’s Theory of Innovation
https://businessjargons.com/schumpeters-theory-of-innovation.html

6. NAME OR LOGO
Schumpeter’s
Theory of Innovation
• comes about through new combinations made
by an entrepreneur, resulting in
- a new product
- a new process
- opening of new market
- new way of organizing the
business
- new sources of supply
© 2019 Dr Joseph K.K. Ho
6
Reference:
BUSINESSJARGONS.COM | Schumpeter’s Theory of Innovation
https://businessjargons.com/schumpeters-theory-of-innovation.html

7. NAME OR LOGO
Schumpeter’s
Theory of Innovation
• Innovation:
within the economic sphere and with
a commercial purpose
• Inventions:
everywhere and without any intent of
commercialization
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© 2019 Dr Joseph K.K. Ho
Reference:
BUSINESSJARGONS.COM | Schumpeter’s Theory of Innovation
https://businessjargons.com/schumpeters-theory-of-innovation.html

8. NAME OR LOGO
Critical Difference Between
Creativity and Innovation
Reference:
Business Insider | There's A Critical Difference Between Creativity And Innovation (Apr 10, 2013)
https://www.businessinsider.com/difference-between-creativity-and-innovation-2013-4
8© 2019 Dr Joseph K.K. Ho
Creativity Innovation
• unleashing the potential of the mind to
conceive new ideas
• more broadly defined as the mental
ability
‒ to conceptualize (imagine) new,
unusual or unique ideas
‒ to recognize new connections
between seemingly random or
unrelated things
• implementation of something new
• transforms unique, creative ideas into
new realities: products, services, or
processes that deliver greater value or
benefits

9. NAME OR LOGO
Critical Difference Between
Creativity and Innovation
Reference:
Keith Harmeyer (Mar 3, 2015) The Relationship Between Creativity and Innovation | Linkedin.com
https://www.linkedin.com/pulse/relationship-between-creativity-innovation-keith-harmeyer/
9© 2019 Dr Joseph K.K. Ho
Steve Jobs Apple
• a creative person, with rare ability to
‒ conceive new ideas for products
‒ recognize new connections
between unrelated things
(combining an mp3 player, an
online store, an Internet browser,
a video camera, a GPS, and a cell
phone, to create the iPhone)
• innovation-driven culture continuously
strives to improve its products'
functionality, design, and ease-of use to
best-in-class levels
• embrace and develop those forward-
thinking ideas to produce desirable
products that deliver value to its
customers

10. NAME OR LOGO
What is Innovation
https://www.youtube.com/watch?v=oD7X
3KvJAVk
©2019DrJosephK.K.Ho
What Is The Difference Between
Innovation and Creativity
https://www.youtube.com/watch?v=TL2d
2t2iZkY&t=102s
10

11. NAME OR LOGO
Product - Invention vs Innovation
https://www.youtube.com/watch?v=3__S
yyFTRmc
©2019DrJosephK.K.Ho
The discipline of Innovation
https://www.youtube.com/watch?v=FhK9
j0NjUSk
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12. NAME OR LOGO
Professor Darren Dahl: Creativity and
Innovation in Business
https://www.youtube.com/watch?v=7yAlJHpa
vUI&fbclid=IwAR2uhj9foEBcEVpRWQcpBPHN
IzjwKjUfl4ukZNvSw_Tfq3Zj-Ax1_-U-Gw4
©2019DrJosephK.K.Ho
Creativity, Innovation & Entrepreneurship
https://www.youtube.com/watch?v=bPMyUQo
GJms&fbclid=IwAR0PD0DyNzh2vgOsRkFTvtOC
WDF9uRf3SUpGDEjJmm4dZ8XD_PdlYizMEQI
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13. What’s more in
Managing Innovation &
Technology Transfer
• Types of Innovation
• Innovation Leadership
• Innovation Culture
• Technology Transfer
©2019DrJosephK.K.Ho
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