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em session creativity opportunity feasibility

em session creativity opportunity feasibility - Creativity...

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Creativity, Opportunity, and Feasibility Gary Minkoff
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Objectives Learn the sources of opportunity entrepreneurs draw on to get business ideas Identify the way ideas are screened for business potential Understand how creativity methods can help business owners recognize new opportunities Understand the five pitfalls that hinder innovation
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Objectives (cont) Identify strategies for innovation in your business Learn how to conduct a comprehensive feasibility study for your business ideas Learn the model for pilot testing Internet businesses Understand the value of building a creative culture in your business
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Source of Business Ideas Innovation implementation of a creative idea or opportunity leading to profitable and effective outcomes Pay attention to the cues Ask lots of questions
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Source of Business Ideas (cont) Opportunity recognition searching and capturing new ideas that lead to business opportunities involves creative thinking that leads to discovery of new and useful ideas
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We interrupt this lesson… Ideas and Opportunity What’s an idea? Any content in your mind What’s an opportunity? “imprecisely-defined market need or underemployed resources or capabilities.” (Kirzner,.1997) a business or technology gap that…by design or accident that exists between the current situation and an envisioned future in order to capture competitive advantage, respond to a threat, solve a problem or ameliorate a difficulty” (Koen, Kleinschmidt, 2005) A favorable set of circumstances where you can provide a solution or new way of doing things—Brush-2010
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Ideas and Opportunity (cont) In our context, ideas could be: Random or intended Planned—or not Opportunities exist whether or not we create them…but it is in some way systematic Opportunity recognition - the process of finding a match between an unfulfilled market need and a solution that satisfies that need (Bhave, 1994)
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Source of Business Ideas (cont) Entrepreneurial alertness (or entrepreneurial attention) a special set of observational and thinking skills that help entrepreneurs identify good opportunities; the ability to notice things that have been overlooked, without actually launching a formal search for opportunities, and the motivation to look for opportunities
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Source of business idea (cont)
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