Creativity Business Idea and Opportunity Analysis

1. Creativity Business Idea and Opportunity Analysis

2. Entrepreneurial Motivation What motivates an entrepreneur to go into new venture

4. What is motivation? “Motivations refers to the way in which urges, drives, desires, striving, aspiration or needs direct, control or explain the behavior of human being” Dalton E.McFarland

5. Elements Of Motivation

6. Motivation Theories

7. Maslow’s model of motivation

8. Maslow’s model of motivation

9. The first two called primary need, concerned with our basic physical requirement to sustain life. The last three stages he calls secondary needs. e.g. If we are hungry or physical exhausted we are less concerned about being sociable.

10. Alderfer’s model of motivation Alderfer developed Maslow’s theory by suggesting three group of needs……. …He called this the ERG theory

11. Needs of Alderfer To do survival Social belonging Ind.development

12. Herzberg’s model of motivation He categorize motivation……

14. Business Idea

15. Sources of New Idea • Consumers • Existing Products and Services • Distribution Channels • Government Regulations • Research & Development

16. Methods of Generating Ideas Focus Group: Groups of individuals providing information in a structured format • Helps in generating new product ideas • Group of 8-14 participates • A moderator to ensure the right direction of the discussion • Excellent method for initially screening ideas and concepts

17. Methods of Generating Ideas Brain Storming: Group method for obtaining new ideas and solutions • No Criticism allowed • Freewheeling is encouraged- the wilder the idea the better • Quantity of ideas is desired • Combinations and improvements of ideas are encouraged • Discussion should be fun- no dominating or inhibiting the discussion

18. Methods of Generating Ideas Problem Inventory Analysis: A method for obtaining new ideas and solutions by focusing on problems • Analogous to focus groups to generate new ideas • Participants are provided with the list of problems in a general product category. • Easier to relate problems to a known product and finding solutions to it. • Results must be carefully evaluated whether or not they reflect a actual new product idea.

19. Creative Problem Solving Creative problem solving is a method for obtaining new ideas focusing on the parameter

20. Creative Problem Solving • Brainstorming: A method of obtaining new ideas focusing on the parameters,. • Reverse Brainstorming: Brainstorming with criticism is allowed or finding faults by asking questions. • Brain writing: Brainstorming in writing giving participants more time to think. • Gordon Method:Developing ideas when group is unaware of the problem. This ensures that the solution is not clouded by preconceived ideas and behavioral patterns. Ideas-Concept Development- Actual Problem revealed-Suggestions for implementation-refinememt of new idea

21. Creative Problem Solving • Checklist Method: developing a new ideas through the list of related issuesor suggestions. This list can take any form like questions or statements and be of ay length. • Free Association: Developing new idea through a chain of word association. • Collective Notebook Method: developing a new idea by group members regularly recording ideas • Attribute Listing: Developing a new idea by looking at positives and negatives. • Big-Dream Approach: developing idea by thinking without constraints.

22. Creative Problem Solving • Parameter Analysis: developing idea by focusing on • Parameter identification • Creative synthesis Market Need Parameter Analysis Invention which meets the need The Invention Process

23. Creative Problem Solving • Forced Relationship: developing new idea by looking at product combinations • Isolate the elements of the problem • Find relationships between these elements • Record relationship in a orderly form • Analyze the resulting relationships to find ideas or patterns • Develop new ideas from these patterns