Lecture 02 Opportunity Recognition.pptx - Entrepreneurshi p...

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Entrepreneurshi p Opportunity Identification and Evaluation Jaudat Mamoon Department of Computing NUST School of Electrical Engineering and Computer Science (SEECS)
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Opportunity Identification and Evaluation Conte nts Conte nts What is an Opportunity? Innovation: Inspiration or Hard Work? Opportunity Identification Process Sources of Innovation Evaluating Opportunities Project Assignment Reading Assignment rces: The Discipline of Innovation, Peter F. Drucker, Harvard Business Review, Opportunity Recognition, Jeffry A. Timmons, 1997
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What is an Opportunity An idea that is timely, attractive, durable, and anchored in a product or service that creates or adds value for its buyer and user WINDOW - time sensitive (fleeting) occasion ATTRACTIVE – to stakeholders (employees, managers, customers) DURABLE – sustainable over time or sustainable long enough to reap expected benefits
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Window of Opportunity
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Ideas vs. Opportunities (1/2) are cheap and many are “fun” last for ever don’t need customers to survive can waste time are valuable and rare are “hard work” are perishable must create customer value must produce returns Ideas Opportunities Only 1-3% of ideas end up being considered as opportunities
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Ideas vs. Opportunities (2/2)
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When is an Idea an Opportunity?
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Opportunity Identification and Evaluation Conte nts Conte nts What is an Opportunity? Innovation: Inspiration or Hard Work?
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