Innovative thinking is an idea that is just creative and does not have to be good. 

Entrepreneurial thinking is an idea that is not just creative but also can benefit the thinker and the users. 

2.     What was your craziest/ out of the box idea?

I have always thought of if there was a solar powered portable charger or even better if handphones can be recharged using solar power. Singapore being a ‘everyday summer’ country would find this very useful as you can find heat everywhere. Also at the back of my mind I know this is a silly idea as heat can explode electrical devices but then the world has evolved into an advanced century where everything is possible. The fact that you can now pay your meals using your watch (Apple watch) and handphones (Samsung wave) is already super creative.

3. What could be the greatest fear for people to be innovative? Why?

The greatest fear for people to be innovative is the fear of being laughed at your creations or ideas. The fundamental to making a super good idea is starting off with a silly or out of the box idea. Through this, thinkers can take ownership of their own ideas as this has not been thought of by anyone else. However, not everyone is open enough to accept new things from people hence thinkers need to be aware of the rejections or hates that they might or would be getting. 

4. According to the video, what are the 3 essentials for people to start their entrepreneurial journey?

1.     Identity

2.     Competences

3.     Contacts

5. Why is it important to have entrepreneurial thinking?

It is important to have entrepreneurial thinking because with entrepreneurial thinking, the world is then evolving constantly as idea makers are continuously coming up with new creations to make the world more advanced, improving the life of people and also benefit them as the owner of the idea. Also through entrepreneurial thinking, ideas can be furthered reflected so to ensure that it is a good idea and to prepare thinkers on what the ideas would cause them.

 2) What was your craziest/ out of box idea?

When I was in Design and Technology class back in secondary school, I have always wanted to invent something interesting and attractive. My idea was to create a wine bottle holder that is made out of coral reef shapes. Initially, I thought it was impossible to invent such product because coral reefs technically own irregular and very complex shapes. However, with a little innovative and entrepreneurial thinking, I was able to implement a design that is realistic and beneficial for users.

3) What could be the greatest fear for people to be innovative? Why?

People know the importance of innovation and they expressed an honest desire be more innovative. However, people could not get over the hump and move towards the right direction as fear kept holding them back. Being afraid made people struggle to be innovative. Most of the time, people are afraid of losing everything although it was how it brings them success in the first place. People have the tendency to hold on to the past and that what made them successful up to this point will continue to make us successful in the future. At the same time, people are more driven to avoid pain than to seek reward. 

4) Why is it important to have entrepreneurial thinking?

It is important to have entrepreneurial thinking because it is all about proving to people that we are able to do what they say is impossible. It gives us the capability to spot opportunities and develop the ability to seize such opportunities before they vanish. Having entrepreneurial thinking is also important as it provides us the direction to head for and move forward to stay ahead of others. It is just as important as initiating the perspective to improve in many ways in order to gain satisfaction and profit for the company. On top of that, entrepreneurial thinking helps to tackle the sophisticated competition between people and brings out the best in each individual. 

The similarities between these three are that they all begin with something we all already have, although not always the case for creative thinking. While the difference between them is i) creative thinking doesn’t necessary always have to think about that you already have, it could be what you do not have and wishes to act upon it in an unconventional way due to the various constraints. ii) Innovative thinking is when you have something, but wants to improve that idea or item and continue to act upon it, it could not always be successful but there is no major losses should it fail.  iii) Entrepreneurial thinking may looked the same as innovative thinking, however, it is being applied into commercial use and any failure could result in monetary loss. Usually Entrepreneurial thinking consist of business proposals and related information, thinker usually have to consider the maximum amount of loss they could handle.

One of my out of the box idea is to use a correction tape in place of a white outline.

The greatest fear for people to be innovative would be the fear of failure. Being innovative is easy, but promoting what you innovated is difficult. More than often, people expect your innovation to succeed and this usually stresses out the person at the very beginning.

Identify what do you have in hand and/or who you are. 

Have multiple solutions in mind for a single problem.

Identify the affordable loss instead of thinking about how much you can earn or will earn.

 

On a personal level, having entrepreneurial thinking allows one to be contended with what they currently have and what they can afford to lose. Besides that, having this mind-set of thoughts allows them to be happier in life

2)      It was to try to learn to teach swimming when I have yet to pass my gold level cert.

3)      It might be because they are self-conscious and is always bothered by different people’s point of view which makes them not being innovative.

4)      It is their Identity, competences and contacts.

5)      It is because everyone need to take risks to succeed in their work, if they do not take risk, they cannot succeed. 

 

Similarities: They all require a mindset and learning   style encouraged by the desire to solve problems and create. Each of them will need one’s capability to use rational judgments or their own way of thinking of ideas.

 

Differences: Entrepreneurial thinking is about recognizing opportunities in the marketplace and understanding how and when to capitalize on them.

Creative thinking involves creating something new or original while innovative thinking is to bring out a new idea, or more-effective device or process. 

2) What was your craziest/ out of the box idea?

 

Ans: Answering lateral thinking type questions where you will need to think outside the box. For example, There are a dozen eggs in a carton. Twelve people each take a single egg, but there is one egg left in the carton. How?

3) What could be the greatest fear for people to be innovative?

 

Ans: First of all, judgments. Due to differences in opinions & views, some people would either like or dislike one’s innovation. This causes the innovator to feel fear as they are scared of being picked on by others about their ideas. Secondly, fear of change. There is a reluctance to take risks. This can be particularly true in a successful aspect. Success can be an enemy of innovation. Why mess with a model that works? There is little motivation to take risks and try new things.

 4) According to the video, what are the 3 essentials for people to start their entrepreneurial journey?

 

Ans: Firstly, finding the means such as contacts. This will help them to gather a few different ideas within themselves in order to kick start their journey. Secondly, learning from your mistakes as it will help you in the long wrong when trying to find the sweet spot. Lastly, having partners with other entrepreneurs to negotiate and co-create the products.

 
5) Why is it important to have entrepreneurial thinking?

 
Ans: Having entrepreneurial thinking skills is important as it helps for those pursuing a successful career. It helps you tackle the ever increasing competition and rise through ranks. Your ability to identify problem quicker and provide solution timely is likely to put forward the best of you in front of your employer.