LEARNING OUTCOMES OF THE MODULE
● To explain what is meant by the term innovation and creativity
● To understand creativity and innovation can enhance and improve business performance
● To be able to implement product and/or service innovation action plans.
This unit will help you to understand the role of innovation and creativity in improving existing products/services and developing new ones for your business, and how creativity techniques and innovation processes can help you to keep your competitive edge and grow as a solopreneur.
WHY IS THIS UNIT RELEVANT FOR A SOLOPRENEUR
Solopreneurs rarely have the resources (e.g. money, time and personnel) to compete with larger enterprises – this means that solopreneurs need to be smart in how they work and find creative ways of achieving results. It is important that solopreneurs can maximise efficiency and performance to meet customer needs and expectations without committing to lots of expense and time-intensive activities.
Solopreneurs need to be creative and innovative and always looking to exploit improvements, efficiencies, and ways of differentiating their products and services. The recent Coronavirus pandemic has been responsible for many enterprises innovating and creating new strategies and solutions to survive and thrive in new market conditions.
RELATION TO OTHER UNITS OF MYVA MINI MBA
Creativity and innovation can cut across all aspects of an enterprise from marketing and finance to production, product development and customer service.
- The virtual assistant
- Developing a Business Plan
- Sustainability and Business Improvement
- Innovation and Product Development
Finance for Enterprises
- The importance of financial management for a business
- How to identify financial requirements to support an enterprise
- The importance of accurate bookkeeping to financial management
- Evaluating financial options to fund a business
- Monitoring income and expenditure against business objectives
- Conducting a financial analysis
- Marketing and Networking
- MYVA Resources