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Idea Generation - Scarboro - Students
Idea Generation - Scarboro - Students
Idea Generation - Scarboro - Students
One of the tenets of entrepreneurship is the ability to create new and useful ideas that solve the
problems and challenges that people face every day. Entrepreneurs can create value in a number of
ways: invent new products and services, develop new technology, discover new knowledge,
improve existing products or services, and find different way of providing more valuable goods
and services with fewer resources.
I. Creativity, Innovation, and Entrepreneurship
Creativity is the ability to develop new ideas and discover new ways of looking at problems
and opportunities.
Innovation is the ability to apply creative solutions to problems and opportunities that enhance
or enrich peoples lives.
One entrepreneur explains, Creativity is only useful if it is channeled and directed.
Leadership expert Warren Bennis says, Todays successful companies live and die according
to the quality of their ideas. A small percentage of product ideas prove to be successful
products. It is this creativity that is an important source of building a competitive advantage
Entrepreneurship is the result of a disciplined, systematic process of applying creativity and
innovation to needs and opportunities in the marketplace. Innovation must be a constant
process because most ideas do not work and most innovations fail.
II. Creativity A Necessity for Survival
Creativity is an important source for building a competitive advantage and for survival.
Making the inferential leap from what has worked in the past to what will work today (or in the
future) requires entrepreneurs to cast off their limiting assumptions, beliefs, and behaviors and
to develop new insights into the relationship among resources, needs, and values.
A paradigm is a preconceived idea of what the world is, what it should be like, and how it
should operate. These ideas become so deeply rooted in our minds that they become blocks to
creative thinking, even though they may be outdated, obsolete, and no longer relevant.
Can creativity be taught? Research shows that anyone can learn to be creative; everyone can
learn techniques and behaviors that generate ideas.
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Rhodes Scolar; I understand; Spring Break; Media Bias
Two for one Stock Split; Blue in the Face; High Intensity; Spread Sheet
Objection Over ruled; Rolls Royce ; Tomb of Tuten-Khamen
Reflect and compare creativity to innovation. Try to list the key differences?
how do these definitions relate to a viable business opportunity?
Think
Creative Thinking
Research into the operation of the human brain shows that each hemisphere of the brain
processes information differently. One side of the brain tends to be dominant over the other.
The human brain develops asymmetrically, and each hemisphere tends to specialize in certain
functions. The leftbrain handles language, logic, and symbols. The right brain takes care of
the bodys emotional, intuitive, and spatial functions.
Rightbrained lateral thinking is somewhat unconventional, unsystematic, and relies on
kaleidoscope/lateral thinking. This describes the process of considering a problem from all
sides and jumping into it at different points.
Leftbrained vertical thinking is narrowly focused and systematic, proceeding in a highly
logical fashion from one point to the next. Leftbrain thinking is guided by a linear, vertical
thought process progressing from one logical conclusion to the next.
Those who have learned to develop their rightbrained thinking skills tend to:
Entrepreneurs can learn to tap their innate creativity by breaking down the barriers to creativity
that most of us have.
Entrepreneurship requires both left and rightbrained thinking.
Test Your Entrepreneurial I.Q. exercise that follows.
True
False
2.
I am responsible for my own fate. People who rely on luck are irresponsible.
True
False
3.
Just because a product can be sold cheaply doesnt mean everyone in that
market will buy it.
True
False
True
False
Statistics support the fact that entrepreneurs who have had family members
venture into successful small business ownership before them are more
likely to be successful.
True
False
True
False
Hard work and a successful financial backing will not ensure the success of
a small business.
True
False
You should advertise and focus the sale of your product or service to meet
the needs of as many people as possible.
True
False
When you have an idea you feel will be successful, you rarely let anyone
talk you out of it, even if they speak with the voice of reason.
True
False
True
False
4.
5.
6.
7.
8.
9.
SCORING
Score 1 point for each TRUE answer. This number represents your entrepreneurial I.Q.
910
Very good Keeping pace with successful small business strategies in the twentyfirst century will be
crucial to successful business survival.
78
Satisfactory Todays fastpaced small business environment wont always let you get away with a few
mistakes.
05
Force Field Analysis: A useful technique for evaluating the forces that support and oppose a
proposed change.
Three columns:
o Center: Problem to be addressed
o Left: Driving forces
o Right: Restraining forces
10