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Kap2primerentrepreneuruka
Course: ECON 101, Spring 2011School: FIU
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Recognizing AprimerinEntrepreneurship Chapter2 Opportunities and GeneratingIdeas Prof.Dr.UlrichKaiser Institutefor Strategy and BusinessEconomics Universityof Zurich Fallsemester 2008 Chapter2:RecognizingOpportunitiesand GeneratingIdeas TableofContents I. IdentifyingandRecognizingOpportunities II. TechniquesforGeneratingIdeas III. EncouragingandProtectingNewIdeas Universityof Zurich ISU...
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Recognizing AprimerinEntrepreneurship
Chapter2 Opportunities
and GeneratingIdeas
Prof.Dr.UlrichKaiser
Institutefor Strategy and BusinessEconomics
Universityof Zurich
Fallsemester 2008
Chapter2:RecognizingOpportunitiesand
GeneratingIdeas
TableofContents
I.
IdentifyingandRecognizingOpportunities
II.
TechniquesforGeneratingIdeas
III.
EncouragingandProtectingNewIdeas
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
2
1
I.
IdentifyingandRecognizingOpportunities
Opportunity defined
1. Anopportunityisafavorablesetofcircumstancesthatcreatesaneedforanew
product,service,orbusiness.
2. Anopportunityhasfouressentialqualities:theseare
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
3
IdentifyingandRecognizingOpportunities
Opportunity defined
Anopportunityhasfouressentialqualities:
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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2
I.
IdentifyingandRecognizingOpportunities
Opportunity defined
3. Foranentrepreneurtocapitalizeonanopportunity,itswindowofopportunity
mustbeopen.
a) Thetermwindowofopportunityisametaphordescribingthetime
periodinwhichafirmcanrealisticallyenteranewmarket.
b) Oncethemarketforanewproductisestablished,itswindowof
opportunityopens,andnewentrantsflowin.
c) Atsomepoint,themarketmatures,andthewindowofopportunity(for
newentrants)closes.
Now,letslookatthethreewaysto
identifyanopportunity.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
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IdentifyingandRecognizingOpportunities
Opportunity defined
4. Itisimportanttounderstandthatthereisadifferencebetweenanopportunityand
anidea.
a) Anideaisathought,impression,ornotion
b) Mayormaynotmeetthecriteriaofanopportunity.
c) Manybusinessesfailnotbecausetheentrepreneursthatstartedthemdidnt
workhard,butbecausetherewasnorealopportunitytobeginwith.
Idea
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
Opportunity
AprimerinEntrepreneurship
Fallsemester2008
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3
I.
IdentifyingandRecognizingOpportunities
Opportunity defined
4. Itisimportanttounderstandthatthereisadifferencebetweenanopportunityand
anidea.
a) Anideaisathought,impression,ornotion
b) Mayormaynotmeetthecriteriaofanopportunity.
c) Manybusinessesfailnotbecausetheentrepreneursthatstartedthemdidnt
workhard,butbecausetherewasnorealopportunitytobeginwith.
PlanetHollywoodexample
inWhatwentwrongsectioninCh.2
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
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IdentifyingandRecognizingOpportunities
Opportunity defined
4. Itisimportanttounderstandthatthereisadifferencebetweenanopportunityand
anidea.
a) Anideaisathought,impression,ornotion
b) Mayormaynotmeetthecriteriaofanopportunity.
c) Manybusinessesfailnotbecausetheentrepreneursthatstartedthemdidnt
workhard,butbecausetherewasnorealopportunitytobeginwith.
Now,letslookatthethreewaysto
identifyanopportunity.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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4
I.
IdentifyingandRecognizingOpportunities
Identifyingopportunities
2008 Prentice-Hall
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
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IdentifyingandRecognizingOpportunities
A.ObservingTrends
2008 Prentice-Hall
Thefirstapproachtoidentifyingopportunitiesistoobservetrendsandstudyhow
theycreateopportunitiesforentrepreneurstopursue.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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5
I.
IdentifyingandRecognizingOpportunities
A.ObservingTrends
1. EconomicForces
a. Economicforcesaffectconsumerslevelofdisposableincome.
Individualsectorsoftheeconomyhaveadirectimpactonconsumer
buyingpatterns.
b. Forexample,adropininterestratestypicallyleadstoanincreaseinnew
homeconstructionandfurnituresales;largefirmssourceoutetc.
c. Gettingahandleontheseforcesby:(i)studyingandobservingand(ii)
purchasingmarketforecasts/analyses
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
11
IdentifyingandRecognizingOpportunities
A.ObservingTrends
2. SocialForces
a. Anunderstandingoftheimpactofsocialforcesontrendsandhow
theyaffectnewproduct,service,andbusinessideasisafundamental
pieceoftheopportunityrecognitionpuzzle.
Example:Thepersistentproliferationoffastfoodrestaurantsisnt
dueprimarilytopeoplesloveforfastfoodbutrathertothefactthat
peoplearebusy:thenumberofhouseholdswithbothparentsworking
remainshigh.
Example:Similarly,theSonyWalkmanwasdevelopednotbecause
consumerswantedsmallerradiosbutbecausepeoplewantedtolistento
musicwhileonthego.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
12
6
I.
IdentifyingandRecognizingOpportunities
A.ObservingTrends
2. SocialForces
b. Someoftherecentsocialtrendsthatallowfornewopportunitiesarethe
following:
Familyandworkpatterns
Theagingofthepopulation
Theincreasingdiversityoftheworkforce
Theglobalizationofindustry
Theincreasingfocusonhealthcareandfitness
TheproliferationofcomputersandtheInternet
Thecontinualincreaseinthenumberofcellphoneusers
Newformsofmusicandothertypesofentertainment
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
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IdentifyingandRecognizingOpportunities
A.ObservingTrends
3. TechnologicalAdvances
a. Giventherapidpaceoftechnologicalchange,itisvitalforentrepreneursto
remainontopofhownewtechnologiesaffectcurrentandfuture
opportunities.
b. Onceatechnologyiscreated,productsemergetoadvanceit.
Example: RealNetworks createdtoaddvideocapabilitiestotheInternet
c. Advancesintechnologyfrequentlydovetailwitheconomicandsocial
changestocreateopportunities.
Example: creationofcellphoneisatechnologicalachievement,butwas
motivatedbyanincreasinglymobilepopulation
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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7
I.
IdentifyingandRecognizingOpportunities
A.ObservingTrends
4. PoliticalActionandRegulatoryChanges
Politicalactionandregulatorychangesalsoprovidethebasisfor
opportunities
Example:newlawscreateopportunitiesforentrepreneurstostartfirmsto
helpcompaniescomplywiththeselaws
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
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IdentifyingandRecognizingOpportunities
B.SolvingaProblem
1. Sometimesidentifyingopportunitiessimplyinvolvesnoticingaproblemand
findingawaytosolveit.
2. Theseproblemscanbepinpointedthroughobservingtrendsandthroughmore
simplemeans,suchasintuition,serendipity,orchance.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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I.
IdentifyingandRecognizingOpportunities
B.SolvingaProblem
Opportunitiessimply
involvenoticingaproblem
andfindingawayto
solveit.
Pinpointedthroughobserving
trends,intuition,
serendipity,orchance.
Somebusinessideasareclearly
initiatedtosolveaproblem.
SymantecCorp.example
2008 Prentice-Hall
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
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IdentifyingandRecognizingOpportunities
B.SolvingaProblem
3. Somebusinessideasareclearlygleanedfromtherecognitionofproblemsin
emergingtrends.
Examples:
a. SymantecCorp.createdNortonantivirussoftwaretoridcomputersof
viruses
b. Processissometimeslessdeliberate:individualmaysetouttosolvea
practicalproblemandrealizethatthesolutionmayhavebroaderappeal
c. Atstillothertimes,someonemaysimplynoticeaproblemthatothersare
havingandthinkthatthesolutionmightrepresentanopportunity.
d. Aserendipitousdiscoveryisachancediscoverymadebysomeonewitha
preparedmind.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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9
I.
IdentifyingandRecognizingOpportunities
B.SolvingaProblem
2008 Prentice-Hall
BusinessesCreatedtoSolveaProblem
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
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IdentifyingandRecognizingOpportunities
C.FindingGapsintheMarketplace
1. Thethirdapproachtoidentifyingopportunitiesistorecognizeaneedthat
consumershavethatisnotbeingsatisfiedbyeitherlarge,establishedfirmsor
entrepreneurialventures.
Example: Largeretailerscompeteprimarilyonpricebyservinglargegroupsof
customerswithsimilarneeds.Theydothisbyofferingthemostpopularitems
targetedtowardmainstreamconsumers.Whilethisapproachallowsthelarge
retailerstoachieveeconomiesofscale,itleavesgapsinthemarketplace.
Thisisthereasonthatsmallclothingboutiquesandspecialtyshopsexist.The
smallboutiques,whichoftenselldesignerclothesorclothesforhardtofit
people,arewillingtocarrymerchandisethatdoesntsellinlargeenough
quantitiesforWalMartorJCPenneytocarry.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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10
I.
IdentifyingandRecognizingOpportunities
C.FindingGapsintheMarketplace
2. Therearealsogapsinthemarketplacethatrepresentconsumerneedsthat
arentbeingmetbyanyone(CurvesInternationalexample).
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
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IdentifyingandRecognizingOpportunities
D.PersonalCharacteristicsoftheEntrepreneur
Characteristicsthattendtomakesomepeoplebetteratrecognizing
opportunitiesthanothers
PriorExperience
SocialNetworks
CognitiveFactors
Creativity
2008 Prentice-Hall
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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I.
IdentifyingandRecognizingOpportunities
D.PersonalCharacteristicsoftheEntrepreneur
Researchershaveidentifiedseveralcharacteristicsthattendtomakesomepeople
betteratrecognizingopportunitiesthanothers.
1. PriorExperience.Severalstudieshaveshownthatpriorexperienceinanindustry
helpsanentrepreneurrecognizebusinessopportunities.Thereareseveral
explanationsforthis:
a. Byworkinginanindustry,anindividualmayspotamarketnichethatis
underserved.
b. Itisalsopossiblethatbyworkinginanindustry,anindividualbuildsa
networkofsocialcontactswhoprovideinsightsthatleadtorecognizingnew
opportunities.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
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IdentifyingandRecognizingOpportunities
D.PersonalCharacteristicsoftheEntrepreneur
2. Opportunityrecognitionmaybeaninnateskilloracognitive
process.
a) CognitiveFactors Studieshaveshownthatopportunityrecognitionmaybeaninnateskillor
cognitiveprocess.
b) Somepeoplebelievethatentrepreneurshaveasixthsensethatallows
themtoseeopportunitiesthatothersmiss.
c) Thissixthsenseiscalledentrepreneurialalertness,whichisformally
definedastheabilitytonoticethingswithoutengagingindeliberate
search.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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I.
IdentifyingandRecognizingOpportunities
D.PersonalCharacteristicsoftheEntrepreneur
3. SocialNetworks Theextentanddepthofanindividualssocialnetworkaffects
opportunityrecognition.
a) Peoplewhobuildasubstantialnetworkofsocialandprofessionalcontacts
willbeexposedtomoreopportunitiesandideasthanpeoplewithsparse
networks.Thisexposurecanleadtonewbusinessstarts.
b) Theextentanddepthofanindividualssocialnetworkaffectsopportunity
recognition.
c) Inonesurveyof65startups,halfthefoundersreportedthattheygottheir
businessideathroughsocialcontacts.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
25
IdentifyingandRecognizingOpportunities
D.PersonalCharacteristicsoftheEntrepreneur
3. SocialNetworks
d) NatureofStrongTieVs.WeakTieRelationships
i. Strongtierelationshiparecharacterizedbyfrequentinteraction
betweencoworkers,friends,andspouses.
ii. Weaktierelationshipsarecharacterizedbyinfrequentinteractionand
formbetweencasualacquaintances.
iii. Result:itismorelikelythatanentrepreneurwillgetnewbusiness
ideasthroughweaktieratherthanstrongtierelationships.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
26
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I.
IdentifyingandRecognizingOpportunities
D.PersonalCharacteristicsoftheEntrepreneur
Whyweaktierelationshipsleadtomorenewbusinessideasthanstrongtierelationships
StrongTieRelationships
Betweenlikemindedindividuals;
tendtoreinforceinsightsandideas
thatpeoplealreadyhave.
WeakTieRelationships
Casualacquaintances;
notasapttobebetweenlike
mindedindividuals;
morelikelytosparkacompletely
newidea.
BrainreactionsexamplefromCh.2opener
andPartneringforsuccessexample
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
I.
AprimerinEntrepreneurship
Fallsemester2008
27
IdentifyingandRecognizingOpportunities
D.PersonalCharacteristicsoftheEntrepreneur
4. Creativity Istheprocessofgeneratinganovelorusefulidea.
Foranindividual,thecreativeprocesscanbebrokenintofivestages:
a) Preparation Isthebackground,experience,andknowledgethatan
entrepreneurbringstotheopportunityrecognitionprocess.
b) Incubation stageduringwhichapersonconsidersanideathinksabouta
problem;itisthemullingthingsoverphase.
c) Insight Insightistheflashofrecognition whenthesolutiontoa
problemisseenoranideaisborn.
d) Evaluationstageofthecreativeprocessduringwhichanideais
subjectedtoscrutinyandanalyzedforitsviability.
e) Elaborationstageduringwhichthecreativeideaisputintoafinalform;
detailsareworkedout,andideaistransformedintosmth.valuable.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
28
14
I.
IdentifyingandRecognizingOpportunities
D.PersonalCharacteristicsoftheEntrepreneur
2008PrenticeHall
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
II.
AprimerinEntrepreneurship
Fallsemester2008
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TechniquesforGeneratingNewBusiness
Ideas
Opportunityrecognitionprocess
2008PrenticeHall
Theconnectionbetweenanawarenessofemergingtrendsandthepersonal
characteristicsoftheentrepreneur:
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
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Fallsemester2008
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II.
TechniquesforGeneratingNewBusiness
Ideas
Techniqueoverview
Brainstorming
FocusGroups
Surveys
OtherTechniques
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
II.
AprimerinEntrepreneurship
Fallsemester2008
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TechniquesforGeneratingNewBusiness
Ideas
A.Brainstorming
1. Isusedtogenerateanumberofideasquickly.Itisnotusedforanalysisor
decisionmaking.
2. Abrainstormingsessionistargetedtoaspecifictopicaboutwhichagroupof
peopleareinstructedtocomeupwithideas.
3. Rules:
a) Nocriticism.
b) Freewheelingisencouraged.
c) Thesessionshouldmovequickly.
d) Leapfrogging isencouraged.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
32
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II.
TechniquesforGeneratingNewBusiness
Ideas
A.Brainstorming
4. Thenumberoneruleofbrainstormingisthatnocriticismisallowed,including
chuckles,raisedeyebrows,orfacialexpressionsthatexpressskepticismor
doubt.Criticismstymiescreativityandinhibitsthefreeflowofideas.
Therearetworeasonsbrainstorminggeneratesideasthatmightnotarise
otherwise.
a) First,becausenocriticismisallowed,peoplearemorelikelytooffer
ideasthantheywouldinatraditionalsetting.
b) Second,brainstormingfocusesoncreativityratherthanevaluation.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
II.
AprimerinEntrepreneurship
Fallsemester2008
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TechniquesforGeneratingNewBusiness
Ideas
B.FocusGroups
1. Afocusgroupisagatheringof5to10peoplewhoareselectedbecauseoftheir
relationshiptotheissuebeingdiscussed.Althoughfocusgroupsareusedfora
varietyofpurposes,theycanbeusedtohelpgeneratenewbusinessideas.
2. Thestrengthoffocusgroupsisthattheyhelpcompaniesuncoverwhatson
theircustomersmindsthroughthegiveandtakenatureofagroupdiscussion.
Theweaknessisthatbecausetheparticipantsdonotrepresentarandom
sample,theresultscannotbegeneralizedtolargergroups.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
34
17
II.
TechniquesforGeneratingNewBusiness
Ideas
C.Surveys
1. Asurveyisamethodofgatheringinformationfromasampleofpeople.The
sampleisusuallyjustafractionofthepopulationbeingstudied.
2. Themosteffectivesurveyssamplearandomportionofthepopulation,
meaningthatthesampleisnotselectedhaphazardlyoronlyfrompeoplewho
volunteertoparticipate.
3. Thequalityofsurveydataisdeterminedlargelybythepurposeofthesurveyand
howitisconducted.
4. Surveysgeneratenewproduct,service,andbusinessideasbecausetheyask
specificquestionsandgetspecificanswers.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
II.
AprimerinEntrepreneurship
Fallsemester2008
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TechniquesforGeneratingNewBusiness
Ideas
C.Surveys
Exampleofasuspectsurveytechnique
SelfSelectedOpinionPoll
Result
Mostcallintelevisionsurveys
ormagazinewriteinpollsare
highlysuspectbecausethe
participantsrepresentwhats
calledaselfselected
opinionpoll.
Mostpeoplewhotakethe
timetoparticipateinaself
selectedopinionpolldoso
becausetheirhaveeither
strongpositiveorstrong
negativefeelsaboutthea
particularproductortopic.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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II.
TechniquesforGeneratingNewBusiness
Ideas
D.OtherTechniques
1. Customeradvisoryboards.Somecompaniessetupcustomeradvisoryboards
thatmeetregularlytodiscussneeds,wants,andproblemsthatmayleadtonew
ideas.
2. Dayintheliferesearch.Othercompaniesconductvaryingformsof
anthropologicalresearch,suchasdayintheliferesearch.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
II.
AprimerinEntrepreneurship
Fallsemester2008
37
TechniquesforGeneratingNewBusiness
Ideas
D.OtherTechniques
3. IDEOMethodCards.IDEOMethodCards(whichlooklikeadeckofplayingcards)
show51ofthemethodsthatIDEOusestocomeupwithnewproductandservice
ideas.
4. Other.Somecompaniesattendtradeshows,conferences,andgatheringsof
industrypersonnel.Theyusetheseeventsasintelligencemissionstolearnwhat
theircompetitionisdoingandthenusetheinformationtostimulatenewproduct
orserviceideas.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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III.
EncouragingandProtectingNewIdeas
A. EstablishingaFocalPointforIdeas
B. EncouragingCreativityattheFirmLevel
C. ProtectingIdeasfromBeingLostandStolen
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
III.
AprimerinEntrepreneurship
Fallsemester2008
39
EncouragingandProtectingNewIdeas
A.EstablishingaFocalPointforIdeas
1. Somefirmsmeetthechallengeofencouraging,collecting,andevaluatingideasby
designatingaspecificpersontoscreenandtrackthem.
2. Anotherapproachistoestablishanideabank,whichisaphysicalordigital
repositoryforstoringideas.
Anexampleofanideabankwouldbeapasswordprotectedlocationonafirms
intranetthatisavailableonlytoqualifiedemployees.Itmayhaveafilefor
ideasthatarebeingactivelycontemplatedandafileforinactiveideas.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
40
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III.
EncouragingandProtectingNewIdeas
B.EncouragingCreativityattheFirmLevel
1. Anemployeemayexhibitcreativityinanumberofways,includingsolvinga
problemortakinganopportunityandusingittodevelopanewproductor
serviceidea.
2. Althoughcreativityistypicallythoughtofasanindividualattribute,itcanbe
encouragedordiscouragedatthefirmlevel.
3. Table2.3inthetextbookprovidesalistofactionsandbehaviorsthatboth
encourageanddiscouragecreativityatboththeorganizationallevelandthe
individualsupervisorlevel.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
III.
AprimerinEntrepreneurship
Fallsemester2008
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EncouragingandProtectingNewIdeas
C.ProtectingIdeasfromBeingLostorStolen
1. Intellectualpropertyisanyproductofhumanintellectthatisintangiblebuthas
valueinthemarketplace.Itcanbeprotectedthroughtoolssuchaspatents,
trademarks,copyrights,andtradesecrets.
2. Asarule,amereideaorconceptdoesnotqualifyforintellectualproperty
protection;thatprotectioncomeslaterwhentheideaistranslatedintomore
concreteform.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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III.
EncouragingandProtectingNewIdeas
C.ProtectingIdeasfromBeingLostorStolen
3. Attheopportunityrecognitionstage,however,therearethreestepsthatshould
betakenwhenapotentiallyvaluableideaisgenerated:
a. Step1:Theideashouldbeputintotangibleform eitherenteredintoa
physicalidealogbookorsavedonacomputerdisk.
b. Step2:Theidea,whetheritisrecordedinaphysicalidealogbookorsaved
inacomputerfile,shouldbesecured.
c. Step3:Avoidmakinganinadvertentorvoluntarydisclosureofanideaina
waythatforfeitsyourclaimtoitsexclusiverights.
Universityof Zurich
ISU InstituteforStrategyandBusinessEconomics
UlrichKaiser
AprimerinEntrepreneurship
Fallsemester2008
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AprimerinEntrepreneurshipChapter3 Feasibilty AnalysisProf.Dr.UlrichKaiserInstitutefor Strategy and BusinessEconomicsUniversityof ZurichFallsemester 2008Chapter3:FeasibilityAnalysisTableofContentsA. Whatisfeasibilityanalysis?B. Product/ServiceFeas
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AprimerinEntrepreneurshipProf.Dr.UlrichKaiserInstitutefor Strategy and BusinessEconomicsUniversityof ZurichSpringsemester 2008Chapter9:BuildingaNewVentureTeamTableofContentsI.CreatingaNewVentureTeamA.TheFounderorFoundersB.RecruitingandSelectingK
FIU - ECON - 101
AprimerinEntrepreneurshipProf.Dr.UlrichKaiserInstitutefor Strategy and BusinessEconomicsUniversityof ZurichSpringsemester 2008Chapter10:GettingFundingorFinancingTableofContentsI.TheImportanceofGettingFinancingorFundingII.SourcesofEquityFundingI
FIU - ECON - 101
AprimerinEntrepreneurshipProf.Dr.UlrichKaiserInstitutefor Strategy and BusinessEconomicsUniversityof ZurichSpringsemester 2008Chapter11:UniqueMarketingIssuesConfrontingNewVenturesTableofContentsI.SelectingaMarketandEstablishingaPositionII.KeyMa
FIU - ECON - 101
AprimerinEntrepreneurshipProf.Dr.UlrichKaiserInstitutefor Strategy and BusinessEconomicsUniversityof ZurichSpringsemester 2008Chapter15:TheImportanceofIntellectualPropertyTableofContentsI.TheImportanceofIntellectualPropertyII.PatentsIII.Tradem
FIU - ECON - 101
Chapter 1Introduction toEntrepreneurshipBruce R. BarringerR. Duane Ireland1-1Chapter Objectives1 of 21. Explain entrepreneurship and discuss itsimportance.2. Describe corporate entrepreneurship and its use inestablished firms.3. Discuss three
FIU - ECON - 101
Chapter 2RecognizingOpportunities andGenerating IdeasBruce R. BarringerR. Duane Ireland2010 Pearson Education2-1Chapter Objectives1 of 31. Explain why its important to start a new firm whenits window of opportunity is open.2. Explain the diffe
FIU - ECON - 101
Chapter 3Feasibility AnalysisBruce R. BarringerR. Duane Ireland2010 Pearson Education3-1Chapter Objectives1 of 31. Explain what a feasibility analysis is and why itsimportant.2. Discuss the proper time to complete a feasibilityanalysis when dev
FIU - ECON - 101
Chapter 4Writing a BusinessPlanBruce R. BarringerR. Duane Ireland2010 Pearson Education4-1Chapter Objectives1 of 21. Explain the purpose of a business plan.2. Discuss the two primary reasons for writing abusiness plan.3. Describe who reads a b
FIU - ECON - 101
Chapter 5Industry andCompetitor AnalysisBruce R. BarringerR. Duane Ireland2010 Pearson Education5-1Chapter Objectives1 of 21. Explain the purpose of an industry analysis.2. Identify the five competitive forces that determineindustry profitabili
FIU - ECON - 101
Chapter 6Developing anEffective BusinessModelBruce R. BarringerR. Duane Ireland2010 Pearson Education6-1Chapter Objectives1 of 21. Describe a business model.2. Explain business model innovation.3. Discuss the importance of having a clearlyart
FIU - ECON - 101
Chapter 7Preparing theProper Ethical andLegal FoundationBruce R. BarringerR. Duane Ireland2010 Pearson Education7-1Chapter Objectives1 of 31. Describe how to create a strong ethical culture in anentrepreneurial venture.2. Explain the importanc
FIU - ECON - 101
Chapter 8Assessing a NewVentures FinancialStrength andViabilityBruce R. BarringerR. Duane Ireland2010 Pearson Education8-1Chapter Objectives1 of 21. Explain the two functions of the financialmanagement of a firm.2. Identify the four main fina
FIU - ECON - 101
Chapter 9Building a NewVenture TeamBruce R. BarringerR. Duane Ireland2010 Pearson Education9-1Chapter Objectives1 of 21. Identify the primary elements of a new venture team.2. Explain the term liabilities of newness.3. Discuss the difference bet
FIU - ECON - 101
Chapter 10Getting Financingor FundingBruce R. BarringerR. Duane Ireland2010 Pearson Education10-1Chapter Objectives1 of 21. Explain why most entrepreneurial ventures need toraise money during their early life.2. Identify the three sources of pe
FIU - ECON - 101
Chapter 11Unique MarketingIssuesBruce R. BarringerR. Duane Ireland2010 Pearson Education11-1Chapter Objectives1 of 21. Explain the purpose of market segmentation.2. Describe the importance of selecting a target market.3. Explain why its importa
FIU - ECON - 101
Chapter 12The Importance ofIntellectualPropertyBruce R. BarringerR. Duane Ireland2010 Pearson Education12-1Chapter Objectives1 of 21. Define the term intellectual property and describeits importance.2. Discuss the four major forms of intellect
FIU - ECON - 101
Chapter 13Preparing for andEvaluating theChallenges of GrowthBruce R. BarringerR. Duane Ireland2010 Pearson Education13-1Chapter Objectives1 of 21. Explain the term sustained growth.2. Describe how firms can properly prepare for growth.3. Disc
FIU - ECON - 101
Chapter 14Strategies for FirmGrowthBruce R. BarringerR. Duane Ireland2010 Pearson Education14-1Chapter Objectives1 of 21. Explain the difference between internal growthstrategies and external growth strategies.2. Identify the keys to effective
FIU - ECON - 101
Chapter 15FranchisingBruce R. BarringerR. Duane Ireland2010 Pearson Education15-1Chapter Objectives1 of 21. Explain franchising and how it differs from otherforms of business ownership.2. Describe the difference between a product andtrademark f
SUNY Stony Brook - HIS - 103
History 103Aug. 31Introduction to course;When Old Worlds CollideWebHIS 103 Class etiquetteGetting startedSections WILL meet this Friday.It is important that you register for the section youplan to attend. If you want to switch, you MUST doit bef
SUNY Stony Brook - HIS - 103
History 103When Old Worlds Collide:Contact, Conquest, CatastropheSept. 7, 2011WebReminders: class etiquetteReminders for week 2Lecture outline posted before class on BB underDocuments sectionLook in SAME BB section Documents forReading packet no
SUNY Stony Brook - HIS - 103
History 103England Discovers Its Colonies:Empire, Liberty, and ExpansionSept. 12, 2011WebReminders: class etiquetteReminders for week 3Do Packet no. 3 readings and reading review questionsin (posted in BB documents BEFORE you come toyour section
SUNY Stony Brook - HIS - 103
History 103England Discovers Its Colonies:Empire, Liberty, and ExpansionSept. 14, 2011WebReminders: class etiquetteBonus question tally after round 1Section01020304050607no. of winners1000241Exploring the spectrum ofsettlementsQue
SUNY Stony Brook - HIS - 103
History 103Provincial America and the Struggle fora ContinentSept. 19, 2011WebReminders: class etiquetteReview: Last week: very fast overview of spectrum of settlement in 17thc English colonies, before and after Restoration colonies Section: look
SUNY Stony Brook - HIS - 103
History 103Provincial America and the Struggle fora ContinentSept. 21, 2011WebReminders: class etiquetteRemindersFor section this Friday and Monday: do characterexerciseIf you didnt get a character assigned in previoussection, pick one from shee
SUNY Stony Brook - HIS - 103
History 103Reform, Resistance, RevolutionSept. 26, 2011WebReminders: class etiquetteReminders and some GOODnewsNo lecture on Wednesday: its a correction dayGo to your Friday classes on Wed., which includesSections 1 and 6Midterm questions will b
SUNY Stony Brook - HIS - 103
History 103Reform, Resistance, RevolutionOct. 3, 2011WebReminders: class etiquetteRemindersMidterm questions were posted at 4 AM (!) underA SSIGNMENTS.Note Ive extended the due date to Oct. 12 so you havemore time to absorb this weeks material on
SUNY Stony Brook - HIS - 103
History 103Reform, Resistance, RevolutionOct. 5, 2011WebReminders: class etiquetteReminders and announcements Midterm due date extended to Oct. 12. Midterm covers material through CHAPTER FIVE ofMurrin text and READING PACKET FIVE onBlackboard.
SUNY Stony Brook - HIS - 103
History 103The Revolutionary RepublicOct. 14, 2009WebReminders: class etiquetteHIS 103 Bonus question for todayIf you think you know the answer to this question, DONOT SAY IT ALOUD but instead write it on one of theentry forms the TAS will give yo
SUNY Stony Brook - HIS - 103
History 103The Revolutionary RepublicOct. 12, 2011WebReminders: class etiquetteReminders and announcements Midterm due today (as if you didnt know it )! If you havent yet submitted the midterm to Safeassign, please notethat you must submit both es
SUNY Stony Brook - HIS - 103
History 103Completing the RevolutionOct. 17, 2011WebReminders: class etiquetteannouncementsPolicy on late papers posted on BBHope to return midterms by next Monday, Oct. 24Reminder that papers are due on Nov. 30, not so faraway.Final exam will c
SUNY Stony Brook - HIS - 103
History 103Completing the RevolutionOct. 19, 2011WebReminders: class etiquetteThe U.S. ConstitutionA remarkable documentNote short length: only 4200 wordsAmended only 27 times, 10 of them at beginning, foradditional 3000 wordsNote for comparison
SUNY Stony Brook - HIS - 103
History 103Completing the RevolutionOct. 24, 2011WebReminders: class etiquetteNews of noteMidterms will be returned at endof lecture today. More about themlater.Instructions for paper dueNovember 30 are posted on BB.Check them out!Divisions am
SUNY Stony Brook - HIS - 103
History 103Completing the RevolutionOct. 26, 2011WebReminders: class etiquetteNews of noteMidterms were returned at end oflecture Monday. If you didnt getyours, pick it up at end of lecture.Instructions for paper dueNovember 30 are posted on BB.
SUNY Stony Brook - HIS - 103
History 103The Market RevolutionOct. 31, 2011WebReminders: class etiquetteReview: Four Presidents Washington, Adams, Jefferson, andMadison -try to steer clear of foreign entanglements US did not want to get embroiled in European conflictsgenerate
SUNY Stony Brook - HIS - 103
History 103Northern Transformations/The Old South, 1790-1850Nov. 7, 2011WebReminders: class etiquettea divided economydividedbefore 1820sbecomes an more integratedeconomy (after 1820) Rural west Economic growth powered by semi subsistence agr
SUNY Stony Brook - HIS - 103
History 103Slavery in the Old South,1790-1850Nov. 9, 2011WebReminders: class etiquetteNews of note Instructions for paper due November 30 are now posted in the Assignmentssection of the main course BB site. Next week: no additional readings for r
SUNY Stony Brook - HIS - 103
History 103Democrats and WhigsNov. 14, 2011WebReview: A complicated institution: the case of ThomasJefferson, Martha Jefferson and Sally HemingsDNA testing confirmed what wasrumored in early 1800sReligion and resistance Southern Evangelicals embr
SUNY Stony Brook - HIS - 103
History 103Democrats and Whigs, the Politics ofSocial ReformNov. 16, 2011WebJackson and the Indians Jacksons views ofIndians: typical of backcountry hostility After War of 1812,gained fame as Indianfighter in unauthorizedwar against Seminoles
SUNY Stony Brook - HIS - 103
History 103The Politics of Social Reform/ ManifestDestinyNov. 21, 2011WebNews of notePapers are due on November 30. Dont forget to printout special title page AND submit to SafeAssign.An extensive review sheet for the final exam will beprovided a
SUNY Stony Brook - HIS - 103
History 103Manifest DestinyNov. 28, 2011WebNews of notePapers are due this Wednesday November 30. Dontforget to print out special title page AND submit toSafeAssign.An extensive review sheet for the final exam has beenposted on BB. Its in the ass
SUNY Stony Brook - HIS - 103
History 103Manifest Destiny and the Compromiseof 1850Nov. 30, 2011WebNews of notePapers are due today. Dont forget to print out specialtitle page AND submit to SafeAssign.Papers received by 4 PM today will be counted as inon time. Any submitted a
USC - CIVIL ENG - 408
CE 408/JohnsonComputer Assignment #1Write MATLAB programs to solve the following problems. You may work together in groups of atmost 3 (turn in just one completed assignment for your group).Problem 1: Using the functions discussed in 6.0 of the MATLAB
USC - CIVIL ENG - 408
CE 408/JohnsonComputer Assignment #2Conditional ProbabilityWrite MATLAB programs to solve the following problems. You may work together in groups of at most 3. (Turn inone copy of your results.)Applying the knowledge you gained in the last computer a
USC - CIVIL ENG - 408
CE 408/JohnsonComputer Assignment #3Parameter Estimation and Functions of a Random VariablePurposeThus far, we have dealt with the problem of characterizing the behavior of a random variable. Thenext logical problems to be solved are how, given a set
USC - CIVIL ENG - 408
USC - CIVIL ENG - 408
USC - CIVIL ENG - 408
USC - CIVIL ENG - 408
IRoles of Probability andStatistics in Engineering11INTRODUCTIONengineers, it is imIn dealing with real world problems, uncertainties are unavoidable. Asmajor sources of uncertainty in engineering.portant that we recognize the presence of allthat
USC - CIVIL ENG - 408
2%Chapter 1, Roles of Probability and Statistics in Engineering.\ Survey of Progress in House Building. Building iich(saIl Management. VoL 7(4). April 1969, pp. 88 9!(san. WI . and Snodgrass. DV. Machine Stress Rated Lumber:h.d knae to Design, Journa
USC - CIVIL ENG - 408
2C iapter 2 Fundamentals of Probabdity Models2.3 Mathematics of Probability53For three events, the multiplication rule would give,pi )andP(fr)77At the intersection, if a vehicle is definitely makine a turn, the probability that it will be a righ
USC - CIVIL ENG - 408
USC - CIVIL ENG - 408
Formulas( A B ) C = AC BC( AB ) C = ( A B ) ( A C )E1 E2 = E1 E2E1 E2 = E1 E2P( A) = 1 P( A)P( A B) = P( A) + P(B) P( AB)nP( A) =P( A E i) P(E i)P(E i A) = -P( A)P( A E j ) P(E j )j=1nP( AB)P( A B) = -P(B) P( A BE j ) P(E jP( A B) =B)j=
USC - CIVIL ENG - 408
CE 408/JohnsonHomework Format InstructionsThe problems you turn in must conform to the standards of good engineering practice as outlinedbelow and as in the example on the next page. Nonconforming homework will not be graded.1. Homeworks should be wri
USC - CIVIL ENG - 408
HW #1 Solutions (Fall 2011)Assigned problems:2.5, 2.10, 2.18, 2.19, 2.232.5 (Confirmed)(a)Locations LocationsLoad at B Load at Cof W1of W2MAProbabilityE1000B50005,0000.045C050010,0000.075B20002,0000.05BB70007,0000.075X