Developing Business Ideas and Creativity
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Summary/Introduction

Great ideas are right in front of us. Ideas give birth to success.

An opportunity is a favorable situation, circumstance, or result and idea for a positive outcome, that creates a need for a new product, service, or business. Opportunity gap creates a business to address the problem or fill the identified gap.

The term window of opportunity is a metaphor describing the period in which a firm can realistically enter a new market. Once the market for a new product is established, its window of opportunity opens.

Jeff Bezos quit his lucrative job at a New York City investment firm to find an attractive opportunity and launch an e-commerce company in 1994.

An opportunity has four essential qualities: attractive, timely, durable, and anchored (to be strongly connected with a particular system) in a product, service, or business that creates or adds value for its buyer or end-user.

 

This PDF Note Covers

  • Identifying and Recognizing Opportunities (Observing Trends/Solving Problems/Finding Gaps in the Marketplace)
  • Personal Characteristics of the Entrepreneur
  • Concept of Creativity
  • Techniques for Generating Ideas
  • Encouraging and Protecting New Ideas
  • Linking Creativity, Innovation, and Entrepreneurship

 

Developing Business Ideas and Creativity | Entrepreneurship | Management Notes

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Babu
Founder and Author at Superb Future. Babu is a student of Business specializing in Sales and Marketing Management. "Everyone is a marketer, whether you are a businessman or a homemaker."