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AEM120_0904_ToPost - AEM120 Tuesday 9/4 Principles of...

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AEM120 Principles of Entrepreneurship and Business Tuesday 9/4 Recognizing opportunities: the role of cognition Idea generation Memory, schemas and prototypes Mental shortcuts and cognitive traps
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From Ideas to Opportunities Idea generation Production of ideas for something new Creativity (next class) Production of ideas for something new that is also potentially useful Opportunity recognition (next class) Recognition that ideas are not only new and potentially useful, but also have the potential to generate economic value.
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A Cognitive Perspective Human cognition—the mental processes through which we Acquire information Enter it into storage Transform it Use it to accomplish a wide range of tasks
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Ideas Occur when individuals use existing knowledge they have gained (and retained) from their experience to generate something new— thoughts they did not have before.
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The Raw Materials The raw materials for new ideas and for recognizing opportunities are present in the cognitive systems of specific persons as a result of their life experience. Unique experience Knowledge Idea generation
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How do ideas and opportunities interact? Robert Felton Indus International Inc. Bill Barton Bellwether Hard Cider Ted Fernandez Answerthink
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Robert Felton There's so much challenge out there and so much opportunity out there, just find out what you're good at, use your skill set to either work for somebody else or start an idea of your own, focus on that goal, and make it happen. There is just so much opportunity today, there's businesses today that weren't in business at the beginning of the year. There's people at Cornell when I was back there, who were doing internet stuff and so, three years ago there wasn't a market there and they're running businesses doing that. To me, that's the excitement. And so, if I could leave something to the class it would be, there's a lot of exciting things to do, just get involved. Find
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