Innovation and entrepreneurship

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Innovation and entrepreneurship

  1. 1. Innovation and Entrepreneurship <ul><li>Sources of Business Opportunities-II </li></ul>Venkatesh Sarvasiddhi Head-Direct Marketing HCL Technologies
  2. 2. Analysis of Existing Entrepreneurs <ul><li>Truly new, novel and innovative ideas: 3-4% </li></ul><ul><li>Rest 96% </li></ul><ul><ul><li>Enhancement -- improvement / refinement of features – cheaper, better, faster, more user-friendly </li></ul></ul><ul><ul><li>Extension to features </li></ul></ul><ul><ul><li>Specialization -- niche’ creation </li></ul></ul>
  3. 3. Enhancement, Extensions and Specializations Enhancements Extensions Specialization
  4. 4. Examples of Enhancement <ul><li>DOS to Windows </li></ul><ul><li>Mechanical watch to quartz watch </li></ul><ul><li>Ordinary TV to a flat screen TV </li></ul><ul><li>Desktop PC to a laptop PC to a tablet PC </li></ul><ul><li>Propeller engine to a jet engine </li></ul><ul><li>Most industrial innovations </li></ul>
  5. 5. Examples of Extensions <ul><li>Toothbrush with a built in toothpaste </li></ul><ul><li>Pen with a torchlight </li></ul><ul><li>Mobile handset with camera, FM radio,MP3 player …. </li></ul><ul><li>Memory sticks with MP3 players </li></ul><ul><li>Wristwatch with a calculator </li></ul><ul><li>Cinema Multiplexes </li></ul>
  6. 6. Examples of Specialization <ul><li>Low cost airlines (Ryanair, Easyjet, Air Deccan) </li></ul><ul><li>Boutique financial advisory services </li></ul><ul><li>Super-specialty hospitals </li></ul><ul><li>Finishing schools </li></ul><ul><li>Executive search firms (CxOs only, finance professionals only) </li></ul>
  7. 7. Possible Service Opportunities <ul><li>Schools </li></ul><ul><li>Restaurants </li></ul><ul><li>Travel agency and tour operators </li></ul><ul><li>Pet shops </li></ul><ul><li>Bookshops </li></ul><ul><li>Gyms / weight loss clinics </li></ul>
  8. 8. Critical Factors <ul><li>Enhancement, Extension, Specialization </li></ul><ul><li>Basic value proposition </li></ul><ul><li>Competition </li></ul><ul><li>Market size </li></ul><ul><li>Critical success factors </li></ul><ul><li>Customer acquisition strategy </li></ul><ul><li>Team skill set </li></ul>

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