Discuss the stages of creativity with example.
[7 marks]Explain the terms. (Attempt any 6) 1. Creativity vs. Innovation 2. Incubation Stage 3. Components of Creativity 4. Deliberate and Cognitive Creativity 5. Open Innovation Model 6. Process Innovation 7. Six Thinking Hats Q.2
[ marks]“Creativity gives you a competitive advantage by adding value to your service or product, and differentiating your business from the competitors”- Linda Naiman. In lieu of this statement discuss the significance of creativity.
[7 marks]Analyze the stages of the innovation process. What challenges might organizations face at each stage, and how can they overcome these challenges? Q.3
[7 marks]Compare and contrast incremental innovation and disruptive innovation. Provide examples of companies that have excelled in each type of innovation strategy.
[7 marks]Elaborate divergent and convergent thinking in the context of design thinking. Provide example of techniques used for each type of thinking.
[7 marks]Evaluate the impact of technological advancements such as AI, blockchain, and IoT on business innovation. How can companies leverage these technologies to innovate their products, services, and processes?
[7 marks]Discuss the role of fear of failure in stifling creativity. How can individuals break this psychological barrier to think more creatively? Q.4
[7 marks]Define prototyping and explain its significance in product development and innovation processes. Page 1 of
[2 marks]“Always keep in mind the old retail adage: Customers remember the service a lot longer than they remember the price.” In lieu with the statement, analyze the service innovation of any e-commerce website in detail.
[7 marks]Discuss the iterative nature of prototyping and its role in validating design concepts, gathering user feedback, and refining product features.
[7 marks]Explore the role of brainstorming in generating creative ideas. Compare and contrast traditional brainstorming methods with techniques like mind mapping and reverse brainstorming.
[7 marks]CASE STUDY: SparkTech Inc. SparkTech Inc. is a software development company specializing in productivity tools. Facing market saturation in its current product line, the company embarked on a product innovation initiative to diversify its offerings and capture new market segments. Product Innovation Initiative: SparkTech Inc. launched a cross-functional team comprising engineers, designers, and marketers to brainstorm innovative product ideas. Using design thinking methodologies, the team identified a gap in the market for collaborative project management platform tailored to remote teams. Development and Launch: The team leveraged agile development methodologies and rapid prototyping to create a user-friendly interface, real- time collaboration features, and customizable workflows. After thorough user testing and iterative improvements, the new product, named TeamSync, was launched successfully.
[ marks]Describe the product innovation journey undertaken by SparkTech Inc. 1 Discuss the role of cross-functional collaboration, design thinking, and agile methodologies in SparkTech Inc.’s product innovation process.
[ marks]How can SparkTech Inc. leverage its product innovation success to drive customer acquisition, revenue growth, and market expansion? Page 2 of
[2 marks]