INNOVATION AND

ENTREPRENEURSHIP
SESSION 1
DR. SK PRASAD
INNOVATION AND ENTREPRENEURSHIP

• The objective is to enable students to

understand the basic concepts of creativity
innovation and entrepreneurship conversant
with the process of identifying business
opportunity, preparing a business plan in
order to start a business of their own.
INNOVATION AND ENTREPRENEURSHIP
• Learning Outcomes
• At the end of the course, learners shall be able to:
• Understand the concepts of creativity and
innovation
• Internalize the ingredients of entrepreneurship
• Know the process of business opportunity
identification
• Prepare a business plan
INNOVATION AND ENTREPRENEURSHIP
• Unit 1 Creativity and Innovation: 12 Hours
• Creativity Meaning- Definitions and Features; Components-
indicators- Nature of Creative Process- Impediments to
Creativity- Innovation and Entrepreneurship- Role and
Importance of Innovations in Entrepreneurial Success; -
Myths/ Misconceptions of Innovation- Principles of Innovation-
Systematic Innovation- Sources of Innovative Opportunities-
Types of Innovation- Product-Process- Service Innovations ;
Radical- Incremental- Disruptive and Frugal Innovations
• Innovation Strategies- Blue Ocean- ERRC Framework- Red
Ocean Strategy- Case Study
INNOVATION AND ENTREPRENEURSHIP
• Unit 2 Entrepreneurship- 12 Hours
• Importance, Definition and Types of Entrepreneurs,
Charms of being an Entrepreneur, Entrepreneurial
Competencies, Managerial versus Entrepreneurial
Decision Making; Myths about entrepreneurship; Role
of Entrepreneurs in economic development :
First IA Test
• Entrepreneurship Development Eco-system; Start up
Policy - growth of startups in India-Issues and
Challenges- Social Entrepreneurship – Case Study
INNOVATION AND ENTREPRENEURSHIP
• Unit 3 Business Opportunity 10 Hours

• Business Opportunity Identification and Selection- Business

Opportunity- Nature and Importance- Sources to generate
potential ideas- Methods of Idea generation-

• Opportunity Evaluation – Porters Five Forces Model- John

Mullin’s Domain Framework- Alexander Osterwalder’s
Business Development Model
Second IA Test
• Unit 4 Business Plan: 12Hours
• Business Plan- Introduction- Developing
Business Plan- Plan is not the Business-
Developing a well conceived Business Plan- For
whom? – Elements of Business Plan- Guidelines
for a good plan; Pitfalls in Business Planning
and avoidance of the same.
• Case Study:
Third IA Test
 INNOVATION AND ENTREPRENEURSHIP
• Text Book and Reference Books
• David Holt, Entrepreneurship – New Venture Creation, PHI
• Rober D. Hisrich, et al Entrepreneurship, McGrawhill Co, 2016
• PoornimaCharantimath Entrepreneurship Development-Small Business
Enterprises, Pearson Edition, 2015
• Rajiv Roy, Entrepreneurship, Oxford University Press
• Mark. J. Dollinger, Entrepreneurship – Strategies and Resources, Pearson
Edition.
• DF Kuratko and TV Rao, Entrepreneurship : A South Asian Perspective,
Cengage Learning
• Peter F. Drucker Innovation and Entrepreneurship, Routlege
• Jeffry A. Timmons and Stephen Spinelli, New Venture Creation, Tata
McGraw Hill Edition
 INNOVATION AND ENTREPRENEURSHIP

Additional Learning:
Startup India Learning Program - a GOI initiative.
• Startup India Learning Program is a free online Entrepreneurship program
by Startup India, a GOI initiative. Invest India in collaboration with UpGrad
has developed this program.
• The aim is to help entrepreneurs get their ideas and ventures to the next
level through structured learning. The program covers lessons on key
areas of starting up by 40+ top founders of India in an extensive 4-Week
Program.

Visit : www.startupindia.gov.in/learning-development
 INNOVATION AND ENTREPRENEURSHIP
• Free Online Certifications:
• Students are advised to enrol in a minimum three Online Certifications and complete the same before the
completion of this course. All these courses are On- Demand/ Self- Paced and can be completed in their
own pace.
•
• CHARACTERISTICS OF A SUCCESSFUL ENTREPRENEUR
https://alison.com/courses/Characteristics-of-Successful-Entrepreneur
• ENTREPRENEURSHIP CREATING THE BUSINESS
https://alison.com/courses/Entrepreneurship-Creating-the-Business
•
• CRITICAL SKILLS FOR ENTREPRENEURS
https://alison.com/courses/Critical-Skills-Needed-by-Entrepreneurs
• GROWTH STRATEGIES FOR BUSINESS https://alison.com/courses/Growth-Strategies-for-Business
• CREATING BUSINESS START UPS THE KAWASAKI WAY
https://alison.com/courses/Business-Startups-the-Kawasaki-Way
• BUILDING AN ONLINE BUSINESS https://alison.com/courses/Getting-Your-Business-Online
• INTRODUCITON TO RISK MANAGEMENT https://alison.com/courses/introduction-to-risk-management
•