This idea could be achieved through the establishment of networks with different parties to coordinate the work effectively through full and comprehensive cooperation. The important point in this direction to make the idea really work is to investigate the market and to find out how this idea will be needed by the targeted population in providing distinguish services, almost no other business provides them in order to take its position in the market place as an innovative idea. So, investigating the environment and the market trends is very important step to go on with this idea. Question 1. Part B The main barriers to innovation / creativity faced when starting a new business. Using the innovation uncertainty matrix will provide valuable information about the reality of the business environment and the prospects for success or withdrawing the ideas because the situations are not suitable for initiating the innovative business. Components of innovation uncertainty matrix are identification, exploratory, competitive and development.
The enterpriser’s task is to deal with each component in details to reach the final relevant decision. The first thing to perform in using the innovation uncertainty matrix is to identify the goals and the objectives of the new idea to launch the business and to achieve those desired goals, also to be aware of the means, methods and techniques to be used in this process there is the need to understand the market trends to make the Judgment, all of this will depend on previous knowledge and experience. Information should be clear to help in decision making. There are many sources of uncertainty about the market as a result of social, political, technical and environmental changes, in addition to uncertainty about the goals and the means to achieve them. (Enterprise team program, 2007, P:47). Also there is the need to gather the needed information through the use of ICT, good communication is very important to share knowledge to benefit from it, and to know how and where to use this knowledge to achieve the desired goals.
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- Spring '15
- Biochemistry, Porter five forces analysis, Complementors, bargaining power, innovative idea, uncertainty matrix