Creativity, Innovation and Incubation — Summer 2023

What are the difference between enterprise and incubators? How Business Incubator works? Explain with suitable example.

Is creativity is only an art or it is a structured system of thinking? Share your views. What are the Myth surrounding for creativity?

Differentiate among The Entrepreneur, Venture Capitalist and The business Angels. Think of examples of them from the society and business you are surrounded with?

Write a note on characteristics of Creative groups and key three components of individual creativity? Associate its advantages with the value creation in business.

Explain What is Lateral thinking? How lateral thinking can help in innovation and whether lateral thinking can be helpful in financial strategies of business for profitability or not? Share your views with justified reasons.

Describe enablers and barriers to creativity? What are the recommended steps to enhance individual’s creativity?

Differentiate between Incremental and radical innovations and according to you which factors will favor radial innovations?

Diagrammatically explain “The Idea Funnel”, Also share one example of using Idea funnel for the creative design and innovation of your choice that how will it work? Page 1 of

Differentiate between technology forecasting Vs Technology generations. What all could be the cost of improper technology forecast or not changing with time as per the requirements, explain with couple of suitable examples.

What is “Technological Knowledge Protection” and how it can be protected? State what all can be covered under “Technological knowledge” why it is important to protect. What could be cost of not protecting technological knowledge?

Differentiate among “Technology maturity” , “Technology Obsolesces” and “Technological Discontinuities” with suitable examples.

Case : Unbossing the Environment at Novartis’ Genesis Labs The Company Novartis is one of the largest pharmaceutical companies in the world; a Swiss multinational that uses science-based innovation to address some of society’s most pressing healthcare issues. The Challenge : Research and development are at the heart of the focused medicines company with laboratories in Switzerland, Cambridge, San Diego, San Francisco, and Shanghai. To continually deliver innovative and life-changing medicines to patients, Novartis has embarked on an ambitious culture transformation in recent years known as UNBOSSED. Employees (called associates) are encouraged to pursue their ideas and are empowered to realize their full potential. In this way, the pharma giant is endeavoring to become more entrepreneurial and Future-Fit Akey component of the UNBOSSED culture is Genesis Labs. This startup program invites associates to submit scientific ideas for consideration for dedicated funding. Its goal is to rapidly prototype new discoveries, accelerate scientific innovation, and nurture grassroots concepts that might otherwise lie dormant deep within the organization. In December 2019, Genesis Labs launched Request For Application 3 (RFA 3), its third pitch competition, where more than 20,000 research and development associates across the globe were invited to fearlessly contribute. Colleagues from the research, development, and generics divisions of Novartis were asked to propose their innovative ideas for reimagining medicine. To scale and manage this bold initiative, Novartis partnered with Planbox, the top-ranked innovation management platform external-link The Goal : Effective collaboration can be challenging for large organizations with groups spread across different locations, each with its own priorities and objectives. Novartis Genesis Labs’ goal was to bring together associates from across the company via Planbox’s platform, harness their knowledge and creativity, nurture co-creation, and ensure the best ideas could rise to the surface. The Results : During the two-month ideation phase, associates submitted ideas, commented on others, and shared them with people in their networks who might have something to add. Then the COVID-19 pandemic threw a spanner in the works, and the Genesis Labs’ team had to adapt the contest to accommodate changing circumstances — so the live pitch day final was turned into a virtual event. Despite setbacks, the RFA 3 contest came to a successful conclusion with the selection of a handful of groundbreaking ideas for further development through Genesis Labs. “We had nearly 4,000 people who checked out ideas on Planbox and almost 1,500 who tuned into pitch day. Using Planbox, we encouraged psychological safety with our colleagues who were willing to put themselves out there and propose what sometimes might seem like crazy transformative ideas on the platform,“ says Aimee Reynolds, Genesis Labs Project Liaison, Novartis Page 2 of