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Creativity , Innovation & the Business Opportunity (Sources of Ideas…
Creativity , Innovation & the Business Opportunity
Trends
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Health trend
Health maintenance and concerns about health care provisions together are one of the biggest trends today that will continue in the next decade as the world population ages.
Economic trend
The impact of credit crunch, bank failures and others has force the consumers to be much more careful in their spending
Sources of Ideas
Existing products and services
Formally monitor and evaluate competitive products and services on the market. Entrepreneur should try to innovate the monitored product
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Consumers
Entrepreneurs should:
Formally or informally monitor potential ideas
Ensure that the idea represents a large enough market to support a new venture
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Creative Problem Solving
Brainstorming
Group of people sit together and start to discuss about the stated problem within a limited time.
Reverse brainstorming
Identify the problems that may arise and find ways on how to avoid those from happening
Gordon method
Developing new ideas when the individuals are unaware of the problem
Moderator encourages people to discuss without revealing the actual problem.
Parameter analysis
Understand the needs of market. Then, identify the variables that can be used which can be considered as important to the market and able to solve market’s problem.
Innovation
Breakthrough
Extremely unique innovations that establish the platform on which future innovations can be developed
Should be protected by patents, trademarks, and copyrights
Ordinary
Modification of current products
Result of market analysis and pull and not technological push
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