A presentation on Generating Idea. It's sources, How it can be generated, Creativity and Innovation and its Barriers. This mainly focuses on entrepreneurship and his important Qualities.

1. Presented by:
Ferdinand Alick Castelino
Idea Generation and Feasibility
Analysis-
Idea Generation; Creativity and Innovation

2. Idea Generation:
 The first and the most important
function of an Entrepreneur.
 Product selection and project
identification.
 In order to select most promising
and profitable project, the
entrepreneur has to generate large
number of ideas about the possible
projects he can take.

3. How idea can be generated:
 Vision
 Insight
 Keen observation
 Education
 Experience
 Exposure
 This needs scanning of business environment and market
survey.

4. Sources of Idea Generation:

5. 5
 Knowledge of potential customer needs.
 Personal observation of emerging trends in demand for
certain products.
 Scope for producing substitute product.
 Trade and professional magazines which provide a very
fertile source of project ideas.
 Departmental publications of various departments of the
government.

6. 6
 Success stories of known entrepreneurs or
friends or relatives.
 A new product introduced by the competitor.
 Ideas given by knowledgeable persons.

7. 7
Creativity and Innovation:
Creativity is a phenomenon whereby something somehow
new and somehow valuable is formed.
Innovation is commonly defined as the "carrying out of new
combinations" that include "the introduction of new goods,
new methods of production, ... the opening of new markets,
the conquest of new sources of supply ,and the carrying
out of a new organization of any industry.
In general, According to Pratt
Creativity "the production of novel and useful ideas by an
individual or small group of individuals working together“
and
innovation "the successful implementation of creative idea
within an organization"

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Thank
You!