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.

INTRODUCTION

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.