- Drucker (world class expert) argued that innovation is the tool of entrepreneurship which demands creativity.
- Creativity is a process by which culture is changed
Mihaly (1997)
Mihaly Csikszentmihalyi is noted for his work in the study of happiness and creativity. The following is a diagram showing the mental state in terms of challenge level and skill level, according to Mihaly.
- Creativity is the ability to make or otherwise bring into existences something new
- We all see what each others ssee but we make connections/interpretations that no one else has made
'Bigger trees near water' - Hockney
- Trees were cut down soon after the piece was created
- Added a whole new emotion to the trees
Philip Kotler
Professor Kotler's book, Marketing Management, is the world's most widely used graduate level textbook in marketing. He has worked for many large companies in the areas of marketing strategy, planning and organization, and international marketing.
1) Creating value = product mangement
2) Communicating value = brand management (differentiation, excitement etc)
3) Delivering value = Customer management
- The brand is a promise, not just a logo
- We buy products emotionally and not just out of need
- Customer management is about knowing beyond a database
C - Creating
C - Communicating
D - Delivering
V - Value
T - to a Target market
P - for Profit
Maslows hierarchy of need
1) Self-actulization
- Morality, creativity, ethics, morals
2) Esteem
- Confience, achievement
3) Love/belonging
- Friendship, family
4) Safety
- Body, employment, family
5) Physiological
- Breathing, food
- Design is applied psychology
- Trying to fulfill the needs of others
- Needs to be interesting, useful & entertaining
Where is the money?
Greatst human needs
- Food industry
- Housing, utilities
- Medicine
- Transport
Reduced human needs (least amount of moey)
- Organic farming
- Health spas
- Holiday cottages
- Swimming pool
Value proposition
(this should be at the beginning of the final enterprise presentation)
1) Short
- Concise, to the point
2) Specific
- How does it relate
3) Customer language
- Do not use technical terminology the customer would not understand
- Overall aim/mission
- Specific aim (outcomes)
- Objectives (outputs)
