ENTREPRENEURSHIP

(CHAPTER 2)
ENTREPRENEURIAL IDEAS,
CREATIVITY AND INNOVATION
 COURSE LEARNING
OUTCOME

CLO 1
Propose the value proposition of
entrepreneurial idea using
Business model Canvas
 LEARNING OBJECTIVE
2.1 Determine entrepreneurial ideas and opportunities
2.1.1 Identify sources of entrepreneurial ideas
a) Primary Sources
b) Secondary Sources
2.2 Explain techniques for generating new business ideas
2.2.1 Brainstorming
2.2.2 Focus groups
2.2.3 Surveys
2.3 Present the process of generating and evaluating business ideas
2.3.1 Discuss process of organizing, analyzing and choosing business opportunity
2.3.2 Identify the business idea using creative thinking techniques
2.3.3 Transform ideas into business opportunities
2.4 Transform ideas into business opportunities using Business Model Canvas:
a. Customer Segment
b. Value Proposition
c. Marketing Channel
d. Customer Relationship
e. Key Partners
f. Key Activities
g. Key Resources
h. Cost Structure
i. Revenue Stream
 SOURCESOF
SOURCES OFENTREPRENEURIAL
ENTREPRENEURIALIDEAS
IDEAS

PrimarySources
Primary Sources SecondarySources
Secondary Sources

Reliableexisting
Reliable existing References
References
data
data

Observation
Observation Experiments Massmedia
mediaand
andelectronic
electronicmedia
media
Experiments Mass

Interviews
Interviews Survey
Survey
 Techniques For Generating
New Business Ideas
Brainstorming
Focus groups
BUSINESS OPPORTUNITIES
Potential to create something new that involves changes in
knowledge, technology, economy, politics, social, and
demographic conditions

An entrepreneur should able to identify,

pursue, and capture the value of business
opportunity
BUSINESS IDEA

FOR

Business concept that results in profits if it turned

into a tangible product and services
 Recognizing customer
needs and wants
Recognizing business
opportunities by scanning
the environment
PROCESS OF
RECOGNIZING, Evaluating self assessment
ANALYZING, In terms of one self
CHOOSING A BUSINESS
OPPORTUNITY AND Screening the feasibility
CONSTRUCTING A of business opportunities
BUSINESS PLAN
Matching societal values,
community’s response or
people’s acceptation

Choosing the best idea/

opportunity and constructing
a business plan
PROCESS 1 : RECOGNIZING CUSTOMER NEEDS AND WANTS

NEEDS = SOMETHING BASIC IN LIFE

EXAMPLE; FOOD, CLOTHING, AND SHELTER

WANTS = SOMETHING THAT IS MORE THAN A BASIC NEED

AND DETERMINED BY AN INDIVIDUAL’S
LIFESTYLE, EDUCATIONAL LEVEL, PURCHASING
POWER, AND PERSONALITY.
EXAMPLE; RADIO, CAR, RECREATION,
PROCESS 2 : RECOGNIZING BUSINESS OPPORTUNITIES BY
SCANNING THE ENVIRONMENT

Demographics, population
structure, income, and Industrial linkages
taste

Development projects by
Study on local resources the public and private
sector

New government policies Technology breakthrough

and regulations

Mass media and electronic

Import and export data media
PROCESS 3 : EVALUATING SELF-ASSESSMENT

FINANCIAL
EXPERIENCE
ABILITY

SKILLS INTEREST

KNOWLEDGE NETWORKING
PROCESS 4 : SCREENING OR CHOOSING BUSINESS
OPPORTUNITIES

Competition
Competition

Legality
Legality
Capital
Capital
(Fixed, Working,
(Fixed, Working, and
andGrowth)
Growth)

Business && Financial

Business Financial Risk
Risk
(Credit, Cash
(Credit, CashLiquidity,
Liquidity, Loan,
Loan, Currency
CurrencyExchange)
Exchange)
PROCESS 5 : MATCHING SOCIETAL VALUES, COMMUNITY’S
RESPONSE OR PEOPLE’S ACCEPTATION

Business idea and the society is important

A business opportunity must be consistent

so as not oppose consumer’s values.
PROCESS 6 : CHOOSING THE BEST IDEA/OPPORTUNITY AND
CONSTRUCTING A BUSINESS PLAN

Entrepreneur will construct

a business plan
 CREATIVE
THINKING

IS IMAGINATIVE
IS GENERATES MANY POSSIBLE
SOLUTION
IS DIVERGENT

BLOCK TO
CREATIVITY
MAKING MISTAKES
LOOKING FOOLISH
BEING CRITICISED
BEING ALONE
BEING OUTCAST
DISTURBING TRADITION
Break...
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 Based on

THE

Canvas
Learning Outcomes

1.List the 9 building blocks of

BMC
2.Explain briefly the BMC
 AGENDA

Group
Copywritting Business Model Workshop

Technique Canvas & And Presentation

Business Plan

2
business
model
“A business model describes the
rationale of how an organization
creates, delivers, and captures value”

4
 BUSINESS MODEL

Product/Service

Deliver
Create

Organization Customers

Capture

Revenue ($)

5
business
model
canvas
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tool to create & analyze
business models...

Carta visual ringkas

yang diaplikasikan
untuk membentuk
pengurusan strategik
dan
mendokumentasikan
model perniagaan sedia
ada.

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◦ Introduce by Osterwalder and Pigneur in year 2010.
◦ BMC is a simple and easy framework to give an overview of the business.
◦ Consist of 9 building blocks to understand the overall picture of our chosen business
◦ The objective is to creates hands on tools that foster understanding,
discussion,creativity and easily can see the idea in one blue print.
YOU CAN
• Create new business
models easily

• Analyze & update your

existing business model

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building
blocks

9
 Customer Segments

which customers and users are you serving?

which jobs do they really want to get done?

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 Value Proposition

what are you offering them? what is that

getting done for them? do they care?

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 Channels

how does each customer segment want to be reached?

through which interaction points?

12
 Customer Relationships

what relationships are you establishing with each segment?

personal? automated?

13
 Revenue Streams

what are customers really willing to pay for? how?

are you generating transactional or recurring revenues?

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 Key Resources

which resources underpin your business model?

which assets are essential?

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 Key Activities

which activities do you need to perform well in

your business model? what is crucial?

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 Key Partners

which partners and suppliers leverage your model?

who do you need to rely on?

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 Cost Structure

what is the resulting cost structure?

which key elements drive your costs?

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Business Model Canvas

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 Your Business Model Canvas
KEY KE AC Y TIVITIES VALUE RELATIONSHIPS CUSTOMER
PARTNERS PROPOSITION SEGMENT

KEY ESOURCES
R CHANNELS

COST STRUCTURE REVENUE STREAMS

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EXAMPLES
EXAMPLES

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 Example 1 Example 2
Refreshing lemonade to joggers Affordable VOIP calls
at public parks
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Kelly’s Lemonade Stand: Refreshing Lemonade
KEY KE AC Y TIVITIES VALUE RELATIONSHIPS CUSTOMER
EGMENT
PARTNERS PROPOSITION S

KEY ESOURCES
R CHANNELS

COST STRUCTURE REVENUE STREAMS

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 Skype
KEY KE AC Y TIVITIES VALUE RELATIONSHIPS CUSTOMER
PARTNERS PROPOSITION SEGMENT

KEY ESOURCES
R CHANNELS

COST STRUCTURE REVENUE STREAMS

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Example 3 Example 4
Smooth shave for men & women

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Photo sharing online

 Flickr: Photo Sharing
KEY KE AC Y TIVITIES VALUE RELATION SHIPS CUSTOMER
PARTNERS PROPOSITION SEGMENT

KEY ESOURCES
R CHANNELS

COST STRUCTURE REVENUE STREAMS

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 Gillette: Razors & Blades
KEY KE AC Y TIVITIES VALUE RELATIONSHIP S CUSTOMER
PARTNERS PROPOSITION SEGMENT

KEY ESOURCES
R CHANNELS

COST STRUCTURE REVENUE STREAMS

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WORKSHOP

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 WORKSHOP
1. Assemble in teams
2. Create canvas
3. Write key words on sticky notes
4. Place sticky notes on the canvas
5. Present your canvas

Choose Any Successful Company And Explain Its Business Model By Using
Business Model Canvas

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Create a CANVAS
of your enterprise project

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so what’s beyond the
CANVAS?

35
you need to validate your model
assumptions with the customers
until you get it right!

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BUSINESS PLAN

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www.BusinessModelGeneration.com

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 It’s time to wake up !!!
THANK YOU..