Framework for strategic creativity and innovation in business

EUReKA!!!
A FRAMEWORK FOR STRATEGIC CREATIVITY &
INNOVATION IN BUSINESS
TURNING YOUR BUSINESS INTO A SOLUTION
MACHINE FOR SUSTAINABLE PROGRESS
BY
OLUSEYE AMUSA
APRIL 2015

EUReKA!!!
4/24/20154/24/2015 DO YOU UNDERSTAND THIS QUESTION : 0 (I DON’T UNDERSTAND) 1 (NOT AT ALL) 2 (NOT REALLY) 3 (MAYBE)
4 (YES I THINK SO) 5 (ABSOLUTELY)
ARCHIMEDES DISCOVERING THE PRINCIPLE OF BUOYANCY
A CRY OF JOY OR SATISFACTION WHEN ONE
FINDS OR DISCOVERS SOMETHING.

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OUR ROADMAP
INTRO
LEARNING MAKES YOU SEE THINGS
DIFFERENTLY
DEFINITIONS
YOUR BUSINESS (IT’S A SYSTEM)
DRAWING THE LINE CREATIVITY VS.
INNOVATION
THE GOLDEN RULE
PARADIGMS
A WORKING DEFINITION OF
INNOVATION
APPLICATION
PROTECTING YOUR CREATIVE /
INNOVATIVE ASSETS
ASSIGNMENT
SCORE

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LETS TALK ABOUT THE DIFFERENCE
BETWEEN KNOWLEDGE &
INTELLIGENCE
INTRO

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PLEASE TAKE A MINUTE TO DESCRIBE WHAT YOU SEE IN
THIS PICTURE

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YOUR BUSINESS (IT’S A SYSTEM)

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DO YOU HAVE A CLEAR IDEA OF HOWYOUR BUSINESS WORKS TO CREATE VALUE?Q 1.

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Key Definitions

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Creativity !!!
Creativity is a phenomenon whereby something new and
valuable is created (such as an idea, a joke, an artistic or
literary work, a painting or musical composition, a
solution, an invention etc.).
The ideas and concepts so conceived can then manifest
themselves in any number of ways, but most often, they
become something we can see, hear, smell, touch, or
taste and they retain VALUE that can be exchanged for
revenue.
DO YOU HAVE A CLEAR UNDERSTANDING OF THE CREATIVE PROCESS?Q 2.

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Innovation !!!
Innovation is the application of better solutions that
meet new requirements, in-articulated needs, or existing
market needs.
This is accomplished through more
effective products, processes, services, technologies,
or ideas that are readily available
to markets, governments and society. Innovation must ADD
VALUE to be effective.
DO YOU HAVE A CLEAR UNDERSTANDING OF THE INNOVATIVE PROCESS?Q 3.

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Creativity Vs. Innovations
• NOUN: HOW THINGS
ARE DEFINED
• NOUN: HOW THINGS
ARE DEFINED
CREATIVITY
• VERB: HOW THINGS ARE
DONE
• VERB: HOW THINGS ARE
DONE
INNOVATION
Q 4.
DO YOU HAVE A CLEAR UNDERSTANDING OF THE DISTINCTION BETWEEN THE CREATIVE &
INNOVATIVE PROCESS?

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Creativity + Innovation
CREATIVITYCREATIVITY
INNOVATIONINNOVATION
ENTERPRISEENTERPRISE

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THINKING AND DOING
Creativity refers to the ability to come up with new ideas,
the ability to think widely, to have a free and open mind
and to approach matters in a new way. Whereas
innovation is the ability to confine the creative ideas and
make them turn into reality so as to achieve successful
performance.

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THE GOLDEN RULE
THINK
CREATIVELY
THINK
CREATIVELY
ACT
INNOVATIVELY
ACT
INNOVATIVELY
SOLVE REAL
PROBLEMS
SOLVE REAL
PROBLEMS

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A working definition of innovation …
by Peter Drucker

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A Working Definition of Innovation!!!
DRUCKER WROTE THAT PURPOSEFUL INNOVATION RESULTS FROM ANALYSIS, SYSTEMIC REVIEW AND HARD
WORK AND CAN BE TAUGHT, REPLICATED AND LEARNED.
PURPOSEFUL, SYSTEMIC INNOVATION BEGINS WITH THE ANALYSIS OF OPPORTUNITIES. THE SEARCH MUST BE
ORGANIZED AND CONDUCTED ON A REGULAR BASIS. IT SEEMS THAT WE MAY BE GETTING HUNG UP ON “THE
FUZZY FRONT END” AND OTHER VIEWS THAT MAKE INNOVATION SEEM REALLY OBSCURE. DRUCKER IDENTIFIED
SEVEN SOURCES OF OPPORTUNITY THAT WILL ULTIMATELY DRIVE INNOVATION:
THE ORGANIZATION’S OWN UNEXPECTED SUCCESSES AND FAILURES, AND ALSO THOSE OF THE COMPETITION.
INCONGRUITIES, ESPECIALLY THOSE IN A PROCESS, SUCH AS PRODUCTION, DISTRIBUTION, OR INCONGRUITIES IN CUSTOMER BEHAVIOR.
PROCESS NEEDS.
CHANGES IN INDUSTRY AND MARKET STRUCTURES.
CHANGES IN DEMOGRAPHICS.
CHANGES IN MEANING AND PERCEPTION.
NEW KNOWLEDGE.
Q 5. DO YOU HAVE A CLEAR UNDERSTANDING OF THE WAY INNOVATION WORK WHITHIN AN ENTERPRISE?

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INVENTIVENESS vs. ENTREPRENEURSHIP
NIKOLA TESLA THOMAS EDISONELON MUSK
NET WORTH
$11.7 BILLION
MUSK, WHO IS THE CEO OF TESLA AND
THE LARGEST SHAREHOLDER IN IT AND
SOLARCITY,. HIS BEST INVENTIONS ARE
ELECTRIC CARS [TESLA MTS], PAYPAL
[ONLINE PAYMENT PORTAL] & SPACE X
[PRIVATE SPACE ROCKETS]
NET WORTH
$0
TESLA SOLD HIS VALUABLE PATENTS
[AC CURRENT] WORTH OVER $ 1
BILLION TO WESTINGHOUSE COMPANY
WASTED HIS FORTUNE ON EXPERIMENTS
AND DIED BANKRUPT
NET WORTH
$170 MILLION
EDISON INVENTED THE MODERN LIGHT
BULB AND OWNED MORE THAN 1000
PATENTS ONE OF WHICH WAS THE [DC
CURRENT]

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ANATOMY OF AN INNOVATIVE ENTREPRENEUR
• FIRST COMPANY - ZIP2 CORPORATION:
• In 1995, at the age of twenty-four, Elon Musk dropped out of
Stanford University after just two days of classes to start his first
company called Zip2 Corporation. Zip2 Corporation was an online
city guide that provided content for the new online versions of the
New York Times and the Chicago Tribune newspapers. In 1999, the
Compaq Computer Corporation bought Zip2 for $307 million. Out of
that amount. Elon Musk's share was $22 million. Musk had become
a millionaire at the age of twenty-eight. That same year Musk
started his next company.
• ONLINE BANKING:
• In 1999, Elon Musk started X.com with $10 million dollars from the
sale of Zip2. X.com was an online bank, and Elon Musk is credited
with inventing a method of securely transferring money using a
recipient's e-mail address.
• PAYPAL:
• In 2000, X.com bought a company called Confinity, which had
started an Internet money-transfer process called PayPal. Elon
Musk renamed X.com/Confinity Paypal and dropped the company's
online banking focus to concentrate on becoming a global payment
transfer provider.In 2002, eBay bought Paypal for $1.5 billion and
Elon Musk made $165 million in eBay stock from the deal.
• SPACE EXPLORATION TECHNOLOGIES:
• In 2002, Elon Musk started SpaceX aka the
Space Exploration Technologies. Elon Musk is a
long-standing member of the Mars Society, a
nonprofit organization that supports the
exploration of Mars, and Musk is interested in
establishing a greenhouse on Mars. SpaceX has
been developing rocket technology to enable
Musk's project.
• TESLA MOTORS:
• In 2004, Elon Musk cofounded Tesla Motors, of
which he is the sole product architect. Tesla
Motors builds electric vehicles. The company
has built an electric sports car, the Tesla
Roadster, the Model S an economy model four
door electric sedan, and plans to build more
affordable suncompacts in the future.
• SOLARCITY:
• In 2006, Elon Musk co-founded SolarCity,
a photovoltaics products and services company
with his cousin Lyndon Rive.
Q 6. DO YOU HAVE A CLEAR UNDERSTANDING OF INNOVATION AS ENTREPRENEURAL ACTIVITY?

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Growing Your Wealth
ROYALTIES FROM IP’S
[INVENTIONS &
BRANDS]
ROYALTIES FROM IP’S
[INVENTIONS &
BRANDS]
DIVIDENDS FROM
SHARES HELD IN YOUR
BUSINESS
DIVIDENDS FROM
SHARES HELD IN YOUR
BUSINESS
MARGINS FROM
REVENUE GENERATED
BY BUSINESS
MARGINS FROM
REVENUE GENERATED
BY BUSINESS
REVENUE FROM SALE
OF BUSINESS
REVENUE FROM SALE
OF BUSINESS
REVENUE &
GOODWILL FROM
PERSONAL BRAND
REVENUE &
GOODWILL FROM
PERSONAL BRAND
REVENUE FROM
INVESTMENT ASSETS
REVENUE FROM
INVESTMENT ASSETS
WHAT GIVES YOUR
NET ITS WORTH
NET WORTH IS THE AMOUNT BY WHICH ASSETS EXCEED
LIABILITIES. IN OTHER WORDS, YOUR NET WORTH IS THE
DIFFERENCE BETWEEN WHAT YOU OWN AND WHAT YOU OWE.
CALCULATING YOUR NET WORTH CAN BE A USEFUL TOOL TO
GAUGE YOUR FINANCIAL HEALTH AND YOUR FINANCIAL
PROGRESS OVER TIME.
Q 7. DO YOU HAVE A CLEAR UNDERSTANDING OF HOW INNOVATIVE ACTIVITY ADDS TO YOUR NETWORTH?

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paradigms

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WHAT IS A PARADIGM
A MODEL OR PATTERN FOR SOMETHING THAT MAY BE COPIED
A THEORY OR A GROUP OF IDEAS ABOUT HOW SOMETHING SHOULD BE
DONE, MADE, OR THOUGHT ABOUT
HOW YOU SEE AND INTERPRETE THE WORLD

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Typical Paradigms
CONTEXT TYPICAL PARADIGM ENTREPRENEURIAL PARADIGM
HARSH BUSINESS
ENVIRONMENT
MAJOR REASON FOR BUSINESS
FAILURE IN NIGERIA
NIGERIAN
GOVERNMENT
CORRUPT & INEPT
STRATEGIC
PARTNERSHIPS
CANT TRUST PEOPLE IN NIGERIA
STARTING A BUSINESS TOO RISKY IN NIGERIA
THE BOX THINKING OUT OF
IT…UNDERSTANDING IT
NIGERIA A COUNTRY FULL OF PROBLEMS
Q 7. DO YOU HAVE A CLEAR UNDERSTANDING OF HOW PARADIGMS DEFINE INNOVATIVE ACTIVITY?

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Applying creativity & innovation
thinking to your business

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STEP 1: DEFINE YOUR CORE VALUES
CORE VALUES:
GOVERN PERSONAL RELATIONSHIPS
GUIDE BUSINESS PROCESSES
CLARIFY WHO WE ARE
ARTICULATE WHAT WE STAND FOR
HELP EXPLAIN WHY WE DO BUSINESS THE
WAY WE DO
GUIDE US ON HOW TO TEACH
INFORM US ON HOW TO REWARD
GUIDE US IN MAKING DECISIONS
UNDERPIN THE WHOLE ORGANIZATION
REQUIRE NO EXTERNAL JUSTIFICATION
ESSENTIAL TENETS
Q 8. DO YOU HAVE A CLEAR UNDERSTANDING OF HOW CORE VALUES DEFINE VALUE?

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STEP 2: MARKET AWARENESS
DEMOGRAPHICS
PSYCHOGRAPHICS
STREET SMARTS
EMPATHIC EYE
HATE VS. LOVE
Q 9. DO YOU HAVE A CLEAR UNDERSTANDING OF HOW MARKET AWARENESS DEFINES INNOVATIVE ACTIVITY?

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STEP 3: LOW MARKET ENTRY SOLUTIONS
Q 10. DO YOU HAVE A CLEAR UNDERSTANDING OF HOW LOW MARKET ENTRY INNOVATIONS WORK?

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STEP 4: UNDERSTANDING YOUR ENTERPRISE DNA:
JUNGLENOMICS
HUGE BY DESIGN: BIG ELEPHANTS EAT GRASS (SMALL THINGS )HUGE BY DESIGN: BIG ELEPHANTS EAT GRASS (SMALL THINGS )
FAST BY DESIGN: CHEETAHS ARE FAST BY DESIGNFAST BY DESIGN: CHEETAHS ARE FAST BY DESIGN
SMALL BUT MIGHTY: ANTS ARE WEAK BY THEMSELVES BUT UNSTOPPABLE AS A HIVESMALL BUT MIGHTY: ANTS ARE WEAK BY THEMSELVES BUT UNSTOPPABLE AS A HIVE
NATURES GIVERS: BUMBLE BEES GIVE TO EVERYONE WITH EVERYTHINGNATURES GIVERS: BUMBLE BEES GIVE TO EVERYONE WITH EVERYTHING
NATURES TAKERS: WASPS LAY THEIR EGGS IN OTHER ANIMALS FOR INCUBATIONNATURES TAKERS: WASPS LAY THEIR EGGS IN OTHER ANIMALS FOR INCUBATION
LUXURY IS IN THE EYES OF THE BEHOLDER: BUTTERFLIES CATER TO THE FEW & THE FORTUNATELUXURY IS IN THE EYES OF THE BEHOLDER: BUTTERFLIES CATER TO THE FEW & THE FORTUNATE

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YOUR ENTERPRISE DNA
TYPE ATTRIBUTES EXPANDED DEFINITIONS
BUTTERFLY BEAUTIFUL, DELICATE
, REPRESENTS THE
FINER THINGS
The luxury goods and services sector which includes jewelry, fashion, restaurants, vehicles, real
estate and any other product and or service that caters to high end clientele. (the few and the
fortunate).
ANT PERVASIVE,HARD
WORKER,
PRODUCTIVE IN
VOLUMES YET
INDIVIDUALISTIC
The artisanal [artisans] and essential services sector which include mechanics, plumbers,
drycleaners, corner shops, vulcanizers, cafeterias / bukaterias, and any other small enterprise
of this size and prevalence (the last mile providers of value) on every street.
ELEPHANT THOUGH HUGE IT
DEPENDS ON [EATS]
TINY THINGS TO
SURVIVE
Large Manufacturing companies, wholesalers (importers/exporters),large retailers [i.e. brand
name super marts], Pharmacies and any other Fast Moving Consumer Goods [FMCG] enterprise.
CHEETAH FAST, KEEN SENSES,
LEAN, HUNTS TO EAT
Highly skilled professional service providers i.e. Law Firms, Accountancy Firms, Consultancies,
High Tech research Firms, Architectural Firms, Clinics and Specialist Hospitals, and any other
highly skilled service provider.
BUMBLE BEE GENERAL
CONTRIBUTOR, KEEPS
THE ECOSYSTEM
ALIVE, IS A GIVER.
Not for profit organizations, institutes, religious organizations, socio cultural organizations [i.e.
clubs], Government Agencies etc.
THE WASP PARASITIC, VICIOUS,
USES OTHER INSECTS
TO INCUBATE ITS
YOUNG,IS A TAKER.
Criminal Organizations, Fraud Syndicates, Terrorists/Militants any organization that functions in
defiance to the laws of the land with an objective to pray upon and destroy for profit and
power.
Q 11. DO YOU HAVE A CLEAR UNDERSTANDING OF YOUR ENTERPRISES DNA?

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STEP 5: DEFINE YOUR BUSINESS
ECOSYSTEM
POTENTIAL CLIENTS/CUSTOMER STRATEGIC
PARTNERS/NATURAL ALLIES
POTENTIAL SPONSORS/FINANCIERS MEMBERS OF YOUR CLASS

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The Relational Value Matrix
GETTING
GIVING
YOUR COMPANY PARTY A PARTY B
YOUR COMPANY
RELATIONAL ZONE
YOUR BUSINESS OBJECTIVES AND CORE
VALUES
THE VALUE PROPOSITION
ZONE
WHAT YOUR BUSINESS IS GIVING A
THE VALUE PROPOSITION ZONE
WHAT YOUR BUSINESS IS GIVING B
PARTY A
THE AGENDA ZONE
WHAT X IS GIVING YOUR COMPANY
RELATIONAL ZONE
A’S BUSINESS OBJECTIVES AND CORE
VALUES/PSYCOGRAPHICS/CULTURAL
IDENTITY ETC
THE CREATIVITY /
INNOVATION ZONE
IS THERE ANYTHING A CAN GIVE TO B
THROUGH YOU?
PARTY B
THE AGENDA ZONE
WHAT Y IS GIVING YOUR COMPANY
THE CREATIVITY / INNOVATION
ZONE
IS THERE ANYTHING B CAN GIVE TO A
THROUGH YOU?
RELATIONAL ZONE
B’S BUSINESS OBJECTIVES AND CORE
VALUES/PSYCOGRAPHICS/ CULTURAL
IDENTITY ETC

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THE 7 RULES OF THE VALUE MATRIX
1. ENSURE THAT THE BLUE AREA [YOUR AGENDA] IS CLEARLY ESTABLISHED BY YOU BEFORE APPROACHING ANY ONE,
2. WHEN DEALING WITH A POTENTIAL STRATEGIC/SUPPLY CHAIN PARTNER, OR CUSTOMERS, ALWAYS PRESENT THE GREEN AREA
[YOUR VALUE PROPOSITION] TO THEM AS VALUE PREPOSITIONS FIRST,
3. ALWAYS ENSURE THAT THERE IS AN EXCHANGE OF VALUE THAT YOU BOTH AGREE IS FAIR BEFORE CONCLUDING ANY DEAL,
4. WHERE YOU ARE NOT CLEAR ABOUT THE VALUE THAT IS TO BE EXCHANGED, DONT ENTER THE RELATIONSHIP,
5. THE YELLOW AREA [CORE VALUES/BUSINESS OBJECTIVES] IS ALWAYS CONSTANT (IT IS NOT SUBJECT TO CHANGE
EXCEPT WHEN NEW KNOWLEDGE IS INTRODUCED)
6. THE PURPLE AREA REPRESENTS AN OPPORTUNITY TO INJECT DEPTH AND [INNOVATION] INTO YOUR NETWORKING
STRATEGY,
7. NEVER UNDERVALUE WHAT YOU HAVE TO OFFER OR ALLOW IT TO BE UNDERVALUED.
Q 12. DO YOU HAVE A CLEAR UNDERSTANDING OF THE VALUE MATRIX?

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THE FIRST STEPS…..EFFECTUATION
Effectuation is a way of thinking that serves entrepreneurs in the processes of
opportunity identification and new venture creation.
Effectuation includes a set of decision-making principles expert entrepreneurs
are observed to employ in situations of uncertainty.
Situations of uncertainty are situations in which the future is unpredictable,
goals are not clearly known and there is no independent environment that
serves as the ultimate selection mechanism

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THE 5 PRINCIPLES OF EFFECTUATION
THERE ARE FIVE CORE PRINCIPLES THAT DEFINE EFFECTUAL LOGIC. THESE ARE:
1. THE BIRD IN HAND PRINCIPLE. USE WHAT YOU HAVE AND AIM IT AT THE NEAREST TARGET!
2. THE AFFORDABLE LOSS PRINCIPLE. HOW MUCH WILL I LOOSE IF I ENTER INTO THIS ENTERPRISE!
3. THE CRAZY QUILT PRINCIPLE. BUILDING YOUR ECO-SYSTEM THROUGH RELATIONSHIPS NOT CASH!
4. THE LEMONADE PRINCIPLE. CHALLENGES ARE OPPORTUNITIES TO LEARN AND TO DO SOMETHING
INNOVATIVE!
5. THE PILOT-IN-THE-PLANE. WHEN ALL THE ABOVE IS APPLIED DAILY, YOU BECOME THE PILOT OF
YOUR DESTINY!
Q 13. DO YOU HAVE A CLEAR UNDERSTANDING OF THE CONCEPT OF EFFECTUATION?

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PROTECTING CREATIVITY & INNOVATION
INTANGIBLE
PRODUCT OF
THE HUMAN
MIND
TRADEMARKS
COPYRIGHTS
TRADE SECRETS
PATENTS
DESIGNS
YOUR COMPANY
SERVICEMARKS
MEDIUM OF
EXPRESSION AGREEMENTS
EMPLOYMENT LETTERS
CONTRACTS
DATA PROTECTION
DATA SECURITY
3RD PARTY CURATION
Q 14. DO YOU HAVE A CLEAR UNDERSTANDING OF HOW TO PROTECT YOUR CREATIVE/INNOVATION ASSETS?

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dominate your market space
SCENARIO ROLE PLAY

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YOUR ASSIGNMENT SHOULD YOU CHOOSE TO TAKE IT…
1. IDENTIFY YOUR MARKET…WHO ARE YOUR CUSTOMERS/CLIENTS &
WHAT IS PECULIAR ABOUT THEM?
2. DEFINE YOUR MARKET….WHAT SORT OF ENTERPRISE ARE YOU
BUILDING?
3. DEFINE A BUSINESS ECOSYSTEM….USING YOUR CLASS MATES
4. DESIGN A RELATIONAL VALUE MATRIX….USING YOUR CLASS MATES
5. DEFINE AN INNOVATIVE WAY TO ENTER INTO YOUR MARKET.

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DID YOU SEE THE WOMAN .LOOK
AGAIN .CLOSELY!

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LETS SCORE OURSELVES NOW

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ASSESSMENT
MARKSHEET
0 - 12 24 - 36 37 - 48 49 - 70
PRIMER BASIC ORIENTATION GIUDANCE SUPPORT
DOES NOT YET HAVE A CLEAR
UNDERSTANDING OF BASIC STEPS AND
PRINCIPLES DISCUSSED
NEEDS A GREATER EXPLORATION OF KEY
BUSINESS PRINCIPLES FROM FACULTY THAT
HAVE PRACTICAL EXPERIENCE WITH
EMPHASIS ON PRACTICAL APPLICATION
UNDERSTANDS BUT STILL NEEDS AN
EXPLORATION OF THE KEY
PRINCIPLES IN PRACTICAL TERMS
AND SIMULATED ENVIRONMENTS
HAS A GOOD UNDERSTANDING
AND IS WILLING AND ABLE TO
APPLY PRINCIIPLES TO REALLIFE
ACTIVITIES AND SITUATIONS

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Framework for strategic creativity and innovation in business