Creative Thinking For Business

Q.
Innovation as a concept, refers to the process that an individual or organization undertakes

to conceptualize brand new productsand ideas, or to approach existing products, and ideas
in new ways. The massive expansion in technological advancements in the past decade;
because of this extreme growth, businesses have been forced to adapt and expand more
than ever before. This increasing need for growth and change also provides a great deal of
opportunity for businesses.
companies cannot afford to stay afloat if they do not embrace innovation and change. Here
are three critical factors on the importance of innovation in business.
1. Innovation Helps Companies Grow

As mentioned above, if you want to grow your business in order to become more
successful and profitable, there are a few ways that you can go about achieving that
goal. Though it will be a slow path forward, you might choose to plod along your
current path, growing incrementally as you perfect your existing products and
business models. you might choose to grow your business by merging or acquiring others,
which is faster, but also expensive for growth. you might choose to evolve by rethinking your
product or business model or both, which is a process that can lead to expansion and allow
you to scale your business quickly.
2. Innovation Keeps Organizations Relevant

The world around us is constantly changing, and in-order for your business to remain
relevant and profitable, it will eventually need to adapt in order to meet these new
realities.
Technology continually proves to be a driving factor in the need for change. To

quantify the recent impact, look at the facts:
• 90 percent of the world’s data has been created in the last couple of years.
• More than 600new websites are created every minute.
• Around 9 billion devices will be connected to the Internet by 2022.
3. Innovation Helps Organizations Differentiate

Themselves
innovation is about doing something differently from everyone else operating in your
space. If your organizaton is using innovation on its products, then the goal is to
develop or update the products until there is nothing else on the market like it. Doing
so will save you time, money, or other resources, and give you a competitive
advantage over other companies stuck in their system. innovation helps an
organization differentiate itself and its products from the compitition, which can be
particularly powerfull in an oversaturated industry.
INTERPRENEURSHIP is a way of starting your own business whereas innovation is

a way of creating and applying new ideas.From business point of view both have an
equal value and is very important. Both could be stated as capable of being as
discipline, being learned and so much more. Being an interprenuer after starting your
own business you will automatically start solving your problems, communication
which is important in business context. Innovation and enterprenuership creates a
role for you to start a business and create ideas.
Q.4
Design thinking is a process of solving problem creatively. its really popular because
It encourages and organization to focus on the people they’re creating for, may lead
to better products and services .The process starts with action and understanding
the correct questions which is about simple mindset shifts and tackle problems from
a different direction. Design thinking can help your team or organization in many
ways and in different sectors such as follows:
- Reduce the risk associated with launching new ideas, products and services.
- Create solution which are revolutionary
- Learn
- Understand the unmet needs of the people youre creating for like clients,
user, customer, etc.
- Turn problems into questions
- Research to understand the past, present and future
Q.2.
Value has many different meanings. For some it means price and for others
it may sounds like a benefit. value is the perception of what a product or
service is worth to a customer . Value changes during the use of a product or
during the customer journeyy. To create real value, you must recognize what
a customer perceives as value.
- You must understand how the customer views your competition’s product.
- Giving a price that makes the customer believe that s/he is getting more than
s/he pays for the benefits s/he gets versus competitive offers.
- Making it convenient for the customer to buy, and how he wants to buy and
pay.
- The key to creating wealth is by offering better quality than your competitors
at the same price.
- by improving customer service.People are predominantly emotional.

They are greatly impacted by the warmth, friendliness, cheerfulness and
helpfulness of customer service representatives.
When you begin thinking of increasing the speed at which you deliver your
product or service, improving the quality, add value at every stage of
production, giving better customer service and trends and finding ways to
reduce the actual cost, you will be at AW at the number of ideas and
possibilities that exist around you.
Q.3 .
Here, lets see on the problem of internet connection problem in Nepal.

Stage 1 : Definition
Problem Description
1. Who? (ISP, massive number of users)
2.What? (unpleasant internet surfing experience)
3. When? (worst at evening to night time)
4. How?(many users, lack of manpower in isp, poor quality connection)
Problem Structure:
We can say that the bad connection is caused by:
1. Bad connection route.
2. Poor state/country.
3. Poor quality cable line.
Problem Strategy:
To solve this problem there are some possible ways
Stage 2:Discover
Problem statement:
Internet issues are one of the most important problems faced in Nepal in the recent years
and there seems to be a few possible solutions.
Possible solutions:
- Adopt digital laws to ensure greater confidence among supplier and users
of broadband services.
- Increase bandwidth speed for their local ISP.
- Use of better cable line connections.
Selection process:
1. Use of better cable line connection.
2. Adopt digital laws to ensure greater confidence among supplier and users
of broadband services.
3. Government most decide high bandwidth speed they will allocate to their local
ISP.
Finally. Its time to implement the chosen solution.

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Q.

Innovation as a concept, refers to the process that an individual or organization undertakes

1. Innovation Helps Companies Grow

2. Innovation Keeps Organizations Relevant

Technology continually proves to be a driving factor in the need for change. To

3. Innovation Helps Organizations Differentiate

INTERPRENEURSHIP is a way of starting your own business whereas innovation is

- by improving customer service.People are predominantly emotional.

Here, lets see on the problem of internet connection problem in Nepal.

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