BBA1FM105 MDC/MDE 1 – Creativity, Innovation & Business Development 45 3 3 25 50 75 

Course Summary

This course explores the intersections of creativity, innovation, and business development, focusing on how these elements combine to spark new ideas, drive technological advancements, and create sustainable business models in a competitive global marketplace. Students will engage with concepts from design thinking, lean startup methodologies, and disruptive innovation theories to understand how businesses can innovate products, services, and processes. Through a blend of lectures, case studies, hands-on projects, and guest speakers, participants will learn to harness their creative potential, apply innovative thinking, and develop practical strategies for business growth and development. 

M1 - Understanding Creativity

1. Creativity-Nature, Concepts and Meaning

2. Creativity skills & personal qualities.

3. Role of creativity in business.

4. Techniques to foster creativity: Brainstorming

5. Role Playing

6. Incubation

7. Creativity tools and techniques: SCAMPER

8. Mind Mapping

2. Creativity skills & personal qualities.

Creativity and personal qualities are interconnected and often reinforce each other. By developing both your skills and qualities, you can enhance your creative potential and achieve greater success in all areas of your life.

Creativity Skills

1. Open-Mindedness: The willingness to consider new ideas and perspectives, even if they challenge existing beliefs.

2. Curiosity: A strong desire to learn and explore new things, often leading to innovative thinking.

3. Brainstorming: The ability to generate a large number of ideas quickly, often in a group setting.

4. Experimentation: A willingness to try new things and take risks, even if they might fail.

5. Communication: The ability to clearly and effectively express ideas to others, both verbally and in writing.

Personal Qualities

1. Passion: A strong enthusiasm for a particular subject or activity.

2. Persistence: The ability to keep going even when faced with challenges or setbacks.

3. Risk-Taking: A willingness to step outside of one's comfort zone and try new things.

4. Self-Motivation: The ability to set goals and work towards them without needing external pressure.

5. Flexibility: The ability to adapt to change and to consider different perspectives.

6. Positive Attitude: A general outlook on life that is optimistic and hopeful.

Role of Creativity in Business

Creativity acts as the spark that ignites innovation, fueling business development and growth. In today's competitive landscape, businesses that can tap into their creative potential have a significant advantage.

Here's how creativity plays a vital role:

• Idea Generation: Creativity fosters the generation of new ideas, whether for products, services, or processes. These ideas can lead to breakthroughs, differentiate a company from its competitors, and open up new markets.

• Problem-Solving: Businesses constantly face challenges, from operational issues to changing customer demands. Creativity allows for innovative problem-solving, finding unique and effective solutions that go beyond the conventional.

• Adaptability: The business world is constantly evolving. Creative thinking enables companies to adapt to changes, anticipate future trends, and stay ahead of the curve.

• Customer Engagement: Creative marketing campaigns, product designs, and customer experiences can capture attention, build brand loyalty, and drive sales.

• Employee Engagement: A creative workplace encourages employees to think outside the box, contribute ideas, and feel more invested in their work, leading to increased motivation and productivity.

• Competitive Advantage: In a saturated market, creativity can be the differentiating factor that sets a business apart. Innovative products, services, and business models can attract customers and drive growth.

Examples of the Role of Creativity in Business

1. Apple: Renowned for its innovative product designs and user experiences, Apple consistently pushes the boundaries of technology and creativity. The company's focus on sleek aesthetics, intuitive interfaces, and groundbreaking features has made it a leader in the consumer electronics industry.

2. Airbnb: By reimagining the concept of hospitality, Airbnb disrupted the traditional hotel industry. Its platform connects travelers with unique accommodations and experiences, fostering a sense of community and personalization.

3. Netflix: Pioneering the streaming entertainment model, Netflix revolutionized how people consume content. Its algorithm-driven recommendations and original programming strategy cater to individual preferences, keeping users engaged and attracting new subscribers.

4. Tesla: Led by Elon Musk's visionary approach, Tesla is redefining the automotive industry with its electric vehicles and focus on sustainable energy. The company's bold innovations and emphasis on cutting-edge technology have spurred a shift towards a greener future.

5. LEGO: This iconic toy company has embraced creativity and innovation to remain relevant for generations. Its collaborations with popular franchises, expansion into digital gaming, and emphasis on user-generated content have fostered a loyal community and ongoing brand engagement.

6. Pixar: Known for its heartwarming and visually stunning animated films, Pixar consistently pushes the boundaries of storytelling and animation technology. The company's emphasis on creativity, collaboration, and emotional resonance has produced numerous box office hits and critical acclaim.

These examples showcase how creativity can manifest in various ways to drive business success. Whether through product design, business models, marketing campaigns, or corporate culture, fostering a creative mindset can lead to innovation, differentiation, and sustainable growth.

Role Playing 

Role playing involves simulating real-world business scenarios where participants take on different roles to:

• Apply concepts of creativity, innovation, and business development in a practical setting

• Develop problem-solving and decision-making skills in a dynamic environment

• Enhance communication, negotiation, and collaboration skills

• Gain a deeper understanding of different perspectives and roles within a business

• Experience the challenges and opportunities of implementing innovative ideas in a competitive market

Possible role play scenarios:

• Pitching a new product or service idea to potential investors

• Brainstorming innovative solutions to a business challenge

• Negotiating a partnership or collaboration with another company

• Developing a marketing campaign for a new product launch

• Managing a crisis situation that threatens the company's reputation

Benefits of role playing:

• Active learning: Engages participants in the learning process through hands-on experience

• Experiential learning: Allows participants to learn by doing, making the learning more memorable and impactful

• Enhanced skills development: Improves communication, negotiation, problem-solving, and decision-making abilities

• Increased understanding: Provides insights into different roles, perspectives, and challenges within a business

• Boosted confidence: Builds confidence in applying theoretical knowledge to practical situations

• Improved teamwork: Encourages collaboration and cooperation among participants

Tips for effective role playing:

• Clearly define the scenario and roles

• Provide participants with background information and resources

• Encourage active participation and engagement

• Create a safe and supportive environment for experimentation

• Facilitate debriefing and reflection after the role play to consolidate learning

Role playing can be a valuable tool for bringing the concepts of creativity, innovation, and business development to life. By actively participating in simulated business scenarios, participants can gain practical experience, develop critical skills, and deepen their understanding of how to apply these concepts in the real world.

Incubation

Incubation is the process of nurturing and developing an idea or a startup from its early stages until it becomes a viable and sustainable business. It involves providing resources, mentorship, and guidance to entrepreneurs to help them overcome challenges, validate their business model, and achieve product-market fit.

Importance of Incubation:

• Provides a supportive environment for entrepreneurs to experiment, learn, and grow.

• Reduces the risk of failure by offering resources and guidance.

• Accelerates the development and commercialization of innovative ideas.

• Fosters collaboration and networking opportunities.

Types of Incubation Programs:

• Business Incubators: Focus on providing physical space, shared resources, and mentorship to early-stage startups.

• Technology Incubators: Specialize in supporting technology-based startups and providing access to specialized resources and expertise.

• Corporate Incubators: Established by large corporations to foster innovation within their organization and explore new business opportunities.

• Social Incubators: Support startups with a social or environmental mission and help them create a positive impact.

Key Components of Incubation:

• Mentorship: Providing access to experienced entrepreneurs, industry experts, and investors who can offer guidance and advice.

• Training and Workshops: Conducting workshops and training programs on various aspects of business development, such as marketing, finance, and legal compliance.

• Networking Opportunities: Organizing events and creating platforms for entrepreneurs to connect with potential investors, customers, and partners.

• Access to Funding: Facilitating access to seed funding, grants, and venture capital to support the growth of startups.

• Physical Space and Infrastructure: Providing office space, shared facilities, and access to technology resources.

Benefits of Incubation for Entrepreneurs:

• Increased chances of success: Due to access to resources, mentorship, and funding.

• Accelerated growth: Through guidance and support from experienced professionals.

• Enhanced credibility: Association with a reputable incubator program can attract investors and customers.

• Networking opportunities: Access to a community of entrepreneurs, mentors, and investors.

• Reduced costs: Shared resources and facilities help minimize expenses.

Incubation & Incubators

Mind Mapping

Mind mapping is a visual thinking tool that helps you organize and structure information in a way that mirrors how your brain naturally processes thoughts. It involves creating a diagram with a central concept or idea at its core, and then branching out to related ideas, subtopics, and details. This non-linear approach allows for greater flexibility and encourages connections between seemingly disparate concepts, fostering creativity and enhancing memory retention. 

How to Go About It

1. Start at the Center: Place the main topic, concept, or question you want to explore in the center of a blank page. This is the focal point of your mind map.  

2. Branch Out: Draw thick lines (branches) radiating from the center, each representing a major subtopic or idea related to the central theme. Label these branches with keywords or short phrases.  

3. Add Sub-Branches: For each main branch, create additional branches stemming from it to represent further subtopics or details. Keep branching out as needed to capture the depth and breadth of your ideas.  

4. Use Keywords and Images: Instead of writing full sentences, use keywords and images to represent ideas. This helps maintain visual clarity and stimulates both sides of your brain.  

5. Connect and Relate: Draw lines or arrows to connect related ideas or subtopics, highlighting associations and dependencies.  

6. Personalize: Use different colors, symbols, and visual elements to make your mind map visually appealing and memorable. This personalization helps encode information and makes the mind map unique to you.  

7. Review and Revise: Mind maps are dynamic and can evolve as your understanding deepens. Review and revise your mind map regularly to add new information or refine existing ideas.  

Mind Mapping Tools:

• Pen and Paper: The most basic and readily available tool for mind mapping.

• Digital Tools: Many software options offer features like templates, collaboration, and cloud storage for creating and sharing mind maps. Some popular choices include:

  • MindMeister  

  • XMind  

  • Coggle 

  • Miro

Benefits of Mind Mapping:

• Enhanced creativity and brainstorming: Mind maps encourage free-flowing thoughts and stimulate new connections.  

• Improved organization and clarity: Visual structure helps organize information logically and see the big picture.  

• Better memory and recall: Combining words, images, and colors helps encode information more effectively.  

• Effective planning and problem-solving: Mind maps can be used to break down complex tasks and generate potential solutions.  

• Engaging presentations and communication: Visual representations can be used to present information in a captivating and easy-to-understand manner.  

The key to effective mind mapping is to keep it simple, flexible, and personalized. Let your ideas flow freely and embrace the visual connections that emerge.

plan a trip using this visual tool:

Central Idea: Trip to [Destination]

Main Branches:

• Destination:
  
  

  • Specific location (city, country, region)

  • Reasons for choosing this destination

  • Length of stay

• Travel:
  
  

  • Transportation options (flight, train, car, etc.)

  • Booking details (dates, times, confirmation numbers)

  • Travel insurance

• Accommodation:
  
  

  • Type of lodging (hotel, hostel, Airbnb, etc.)

  • Location preferences (near attractions, central, quiet, etc.)

  • Booking details (dates, confirmation number)

• Activities:
  
  

  • Must-see attractions and landmarks

  • Day trips or excursions

  • Local experiences or cultural events

  • Restaurants or food to try

• Budget:
  
  

  • Estimated costs for travel, accommodation, activities, and food

  • Contingency fund for unexpected expenses

  • Currency exchange if needed

• Logistics:
  
  

  • Visas or travel documents

  • Packing list (clothes, toiletries, electronics, etc.)

  • Emergency contacts and important information

  • Itinerary and daily schedule

• Additional Considerations:
  
  

  • Weather and appropriate clothing

  • Local customs and cultural sensitivities

  • Language barriers and communication tools

  • Health and safety precautions

Remember:

• Visuals: Add images or icons to your mind map to make it more engaging and easier to remember.

• Flexibility: Your mind map is a dynamic tool. Adjust and expand it as your plans evolve.

• Collaboration: Share your mind map with travel companions for collaborative planning.

• Details: Include specific information like addresses, phone numbers, and reservation details on sub-branches.

• Enjoy the process! Mind mapping is a creative way to visualize your trip and get excited about your upcoming adventure.

BBA1FM105 MDC/MDE 1 – Creativity, Innovation & Business Development 45 3 3 25 50 75 

M3 Introduction to Entrepreneurship 

1. 1. Meaning Nature and concepts of entrepreneurship

   2. Meaning Nature and concepts of intrapreneurship

   3. Characteristics of successful entrepreneurs

   4. Entrepreneurship Process 

   5. Concept of Business Model

   6. Importance of Entrepreneurship Ecosystem

   7. Importance of Entrepreneurship for Economic Development

M4 Business Development through Entrepreneurship 

1. Steps in starting a new venture and entrepreneurship challenges

2. Idea generation, Evaluation, and Opportunity Assessment

3. Business Plan Concepts

4. Business Plan Components

5. Business Plan-Importance

6. Entrepreneurial  Marketing and Financing a New venture

Assessment Rubrics:

Mode of Assessment – CCA (Continuous Comprehensive Assessment) -

Summative Assessment (SA)

a. Written test

b. Open book test

c. Laboratory report

d. Problem based assignments

e. Individual project report

f. Case study report

g. Team project report

h. Literature survey

i. Standardized Test

Formative Assessment (FA)

l. Practical Assignment

m. Viva

n. Quiz

o. Interview

47

p. Class Discussion

q. Seminar

r. Group Tutorial work

s. Home assignments

t. Self and peer Assessments

u. Oral presentations

v. Observation of practical skills

REFERENCES

1. Rao, M. S. (2014). Unlocking Creativity: How to Solve Any Problem and Make the

Best Decisions by Shifting Creative Mindsets. Sage Publications India Pvt Ltd.

2. Srivastava, S. C., & Sharma, P. (2018). Innovation and Entrepreneurship: Practice and

Principles in the Indian Context. Sage Publications India Pvt Ltd.

3. Drucker, P. (1985) Innovation and Entrepreneurship Practices and Principles. Harper

& Row, New York.