The document discusses the concepts of creativity, innovation, and identifying business opportunities. It begins by defining creativity as generating novel and high-quality ideas and innovation as converting opportunities into marketable products or services. It then outlines a 4-step process for identifying business opportunities: 1) identifying customer needs, 2) environmental scanning and self-analysis, 3) screening opportunities, 4) selecting an opportunity and creating a business plan. Later sections explore methods for generating creative ideas, different forms of innovation, and strategies for encouraging creativity and innovation in business.
BUSINESS OPPORTUNITY
WHAT IS OPPORTUNITY ?
TYPES OF SITUATIONAL FACTORS
EMERGENCE OF OPPORTUNITY
OPPORTUNITY IDENTIFICATION
OBSERVING CHANGES IN THE ENVIRONMENT
RECOGNIZE PROBLEM AND FIND SOLUTION
BUSINESS OPPORTUNITY AND SELECTION
THINKING MODES
BUSINESS OPPORTUNITY
WHAT IS OPPORTUNITY ?
TYPES OF SITUATIONAL FACTORS
EMERGENCE OF OPPORTUNITY
OPPORTUNITY IDENTIFICATION
OBSERVING CHANGES IN THE ENVIRONMENT
RECOGNIZE PROBLEM AND FIND SOLUTION
BUSINESS OPPORTUNITY AND SELECTION
THINKING MODES
OPPORTUNITY IDENTIFICATION AND SELECTION
Opportunity to Start a Business
Steps in Arriving at Business Opportunity
Generating Ideas
Ways of Scanning the Environment
Collecting Information
Means of Collecting Information
Screening Process
Formulating the Concept of the Business
A business plan is a document that brings together the key elements of a business that include details about the products and services, the cost, sales and expected profits.
Trading Entrepreneur - In types of EntrepreneursHSE Guru
Types of Entrepreneurs
Merits and De Merits of Entrepreneurship
Examples of Trading Entrepreneurs
Paytm Start UP
Bill Gates Microsoft
Walt Disney Star Network
Welcome to Xtreme Green. A company that is owned by Pro One Lubricants. This company has been in business for over 17 years with patents on their products which are all plant based and meet EPA's Strict Guidelines for Biodegradable material!
Business is the most fundamental way to put yourself in a position of financial and economic independence and THIS opportunity is one that is completely unique, has a product with a long track record/recognition and has a low entry price into the business @ $150.00 which includes $145.00 worth of product, a back office, 100 business cards, and no shipping and handling cost.
Interest in the business? Click here XGopportunity.com/teambuilders
Interest in our products? Click here BuyXGnow.com/teambuilders
OPPORTUNITY IDENTIFICATION AND SELECTION
Opportunity to Start a Business
Steps in Arriving at Business Opportunity
Generating Ideas
Ways of Scanning the Environment
Collecting Information
Means of Collecting Information
Screening Process
Formulating the Concept of the Business
A business plan is a document that brings together the key elements of a business that include details about the products and services, the cost, sales and expected profits.
Trading Entrepreneur - In types of EntrepreneursHSE Guru
Types of Entrepreneurs
Merits and De Merits of Entrepreneurship
Examples of Trading Entrepreneurs
Paytm Start UP
Bill Gates Microsoft
Walt Disney Star Network
Welcome to Xtreme Green. A company that is owned by Pro One Lubricants. This company has been in business for over 17 years with patents on their products which are all plant based and meet EPA's Strict Guidelines for Biodegradable material!
Business is the most fundamental way to put yourself in a position of financial and economic independence and THIS opportunity is one that is completely unique, has a product with a long track record/recognition and has a low entry price into the business @ $150.00 which includes $145.00 worth of product, a back office, 100 business cards, and no shipping and handling cost.
Interest in the business? Click here XGopportunity.com/teambuilders
Interest in our products? Click here BuyXGnow.com/teambuilders
Part One of Entrepreneurship Lecture Notes on Students Enterprise Club at www.studentsenterpriseclub.com.
This is a Study guide for intending Entrepreneurs.
Ideas have been the driving force of humanity. From a simple circular wheel carved from rock back in the stone ages to the first airplanes and telephones, innovative ideas have sparked off revolutionary changes in society. Now in this competitive world, ideas have become more important to us than actions. Companies have begun asking designers to generate solutions that meet the needs and desires of the consumer.
As such, there was a need to streamline and increase the efficiency of producing and sharing ideas within teams. This gave birth to several idea generation techniques, which allowed everyone to play a part in the creative process, a role allotted strictly to designers and engineers for the last few years.
Idea generation techniques meant anyone could participate in creating new ideas. It allowed people to share and build up on existing solutions, to foresee future problems, and essentially, to think big in terms of design. It brought different specializations together to create a more diverse think-tank that can tackle problems from several perspectives.
This report is divided into three parts.
First, we shall look into several idea generation techniques, both popular ones and the uncommon ones, question their uses and value by providing examples of products developed using the specific techniques.
Second, we discuss whether idea generation methods and techniques are important in coming up with new ideas? Are they the driving factor in generating ideas?
Lastly, we conclude with our personal view on idea generation techniques, along with stating which methods, if any, would we prefer to use.
Towards the end we aim to achieve a better understand of the creative thinking process as a whole and how to effectively solve all issues, design or otherwise.
Business idea generation in today's economyacemindia
The topic has been divided into 3 major parts Impact of Pandemic CORONA on Indian Economy, Business Opportunity Identification, Business Opportunities, and need of the hour in today’s Indian Environment.
www.acem.edu.in
Entrepreneurship development & recognizing opportunitiesJubayer Alam Shoikat
Entrepreneurship Development & Recognizing Opportunities. entrepreneurship development & recognizing opportu
,
entrepreneurship development & recognizing opportu
,
innovation and entrepreneurship
,
tactics/ strategies for identifying opportunities
,
identify problems and needs
,
research demographics
,
lifestyles
,
and habits
,
watching trends
,
: social forces
,
economic forces
,
first approach: observing trends
,
cognitive factors
,
social networks
,
creativity
,
full view of the opportunity recognition process
,
third approach: finding gaps in the marketplace
,
second approach: solving a problem
,
establish a personal network
,
entry strategies
,
political action and regulatory changes2 of 2
,
technological advances
,
what is an opportunity?
,
three ways to identify an opportunity
,
brainstorming
,
focus groups
,
library and internet research
,
other techniques
,
creative sources of ideas
,
watch for demographic changes
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Skye Residences | Extended Stay Residences Near Toronto Airportmarketingjdass
Experience unparalleled EXTENDED STAY and comfort at Skye Residences located just minutes from Toronto Airport. Discover sophisticated accommodations tailored for discerning travelers.
Website Link :
https://skyeresidences.com/
https://skyeresidences.com/about-us/
https://skyeresidences.com/gallery/
https://skyeresidences.com/rooms/
https://skyeresidences.com/near-by-attractions/
https://skyeresidences.com/commute/
https://skyeresidences.com/contact/
https://skyeresidences.com/queen-suite-with-sofa-bed/
https://skyeresidences.com/queen-suite-with-sofa-bed-and-balcony/
https://skyeresidences.com/queen-suite-with-sofa-bed-accessible/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-king-queen-suite-with-sofa-bed/
https://skyeresidences.com/2-bedroom-deluxe-queen-suite-with-sofa-bed-accessible/
#Skye Residences Etobicoke, #Skye Residences Near Toronto Airport, #Skye Residences Toronto, #Skye Hotel Toronto, #Skye Hotel Near Toronto Airport, #Hotel Near Toronto Airport, #Near Toronto Airport Accommodation, #Suites Near Toronto Airport, #Etobicoke Suites Near Airport, #Hotel Near Toronto Pearson International Airport, #Toronto Airport Suite Rentals, #Pearson Airport Hotel Suites
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
7. The chain of entrepreneurship
Creativity & innovation are the first stages of
successful entrepreneurial initiatives
Creativity
Innovation
Thinking New
Things
Doing New
Things
Entrepreneurship
Creating
value in the
marketplace
9. Business is all about selling
a product or service
•
Every time something happens,
positive or negative, I ask myself,
WHERE is the OPPORTUNITY here?
•
How do you spot an opportunity?
Keep your eyes open all of the time
10. Business Idea and Opportunity
• A business idea starts with an opportunity.
• A business opportunity exists when there is
demand for goods and services to meet the
needs and wants of community.
• Changes in the environment create
opportunities; cultural, social, legal,
economy, political,& technology (C-SLEPT).
11. Illustrations – Environment
changes
• Good economic condition
– ↑ demand luxury cars, homes
• Increase number of working
couples
– ↑ demand maids, babysitter
• Introduction of ICT
– ↑ demand computers, repairs,
knowledge, spare parts
12. Process of Identifying, Evaluating
and Selecting Business Opportunity
Step 1
Step 1
Step 2
Step 2
Scanning the
Scanning the
environment
Identifying
environment
Identifying
the needs & evaluating of
the needs & evaluating of
self the
& wants of
self the
& wants of
community
customers
community
customers
Step 3
Step 3
Screening of
Screening of
business
business
opportunities
opportunities
Step 4
Step 4
Selecting a
Selecting a
business
business
opportunity
opportunity
& preparing a
& preparing a
business plan
business plan
13. Step 1: Identification of NEEDS &
WANTS of consumers
• Need – is something basic in life such as food,
drink, clothing and shelter.
• Want – is extension of need; craving for better
than the basic need.
– Need for food: Rice
– Want for food: Chicken Rice (Chicken Rice
Shop)
– Need for shelter: Renting a flat with 10
housemates
– Want for shelter: Renting a condo
• The better the economy of people, the more
business opportunities available for the
entrepreneurs.
14. • Human NEEDS and WANTS are unlimited.
• Next, translate the NEEDS and WANTS into
PRODUCTS or SERVICES.
• PRODUCTS – are physical forms e.g. car,
handphone, books.
• SERVICES – non-physical form, intangible
product e.g. cab service, telco network,
training.
15. Step 2: Environmental Scanning,
Self Analysis & Community Values
3 factors to be considered:
1) Environmental Scanning
- help identify business opportunities.
- 2 approaches:
i) Macro scanning
e.g. population, ethnics, average
income,
ii) Micro scanning
e.g. family size, Malay delicacies,
individual income.
16. Step 2: Environmental Scanning,
Self Analysis & Community Values
2) Self Evaluation
- to see what is available in oneself:
i) Experience
- match business with experience
e.g. engineer work with Public Work
Dept (JKR) will become a Civil Engineer.
ii) Knowledge & Skill
- do business on what he really
knows what to do e.g. Contractor must
not only knows how to manage his
business but also how to construct the
buildings.
17. Step 2: Environmental Scanning, Self
Analysis & Community Values
2) Self Evaluation (cont.)
- to see what is available in oneself:
iii)Financial situation
- business that is planned
to be implemented must match with
financial ability. E.g. Land owner can do
housing business.
iv) Interest
- select business based on
his interest e.g. a person with
gardening hobby can open nursery.
v) Networking
- good networking generate
business opportunity e.g. trading
18. Step 2: Environmental Scanning,
Self Analysis & Community Values
3) Values/Norms of the Community
- business opportunities need to be
coordinated with the religious’ and society’s
values or norms.
- Values and Norms = what is perceived as
useful and beneficial to the community.
- E.g. Incinerator in Kuala Langat, Nuclearpowered electricity generator, poultry farm
nearby residential areas.
19. Step 3: Screening of Business
Opportunities
• Legality:
- ensuring the business opportunity is a legal one.
- E.g. selling pirate DVD, imitate product e.g. Crocs.
• Degree of competition;
- choose business that is not monopolized.
- E.g. supplying Sugar
• Capital requirements:
- to identify sufficient funds to finance the business.
- E.g. own money, debt financing, FDI.
• Risks involved:
- expecting the potential uncertainties & considering
the percentage of success & failure.
- E.g. sell 2nd hand cars
20. 2 types of risks:
1) Business Risks:
Types of
Business Risks
Description
Examples
Risk that can be
transferred to
another party.
Insurance scheme that cover
fire, stolen stocks and accident
at work.
Controllable
Risks
Risk that can be
somewhat controlled
by an entrepreneur.
Cannot fully control the
situation involving market
expectations, labor turnover,
product quality & machine
breakdown.
Uncontrollable
Risks
Risk that cannot be
controlled by an
entrepreneur.
Economic downturn, natural
disaster e.g tsunami.
Transferable
Risks
21. 2 types of risks:
2) Financial Risks:
Types of
Business Risks
Description
Examples
Liquidity level
Low liquidity – problem of setting
Lack of stocks, too much cash
short term debt; Too high
in hand
liquidity – overspending.
Loan
Risk due to non-servicing of
financial loan.
Finance business through
bank’s loan – still have to pay
bank monthly despite no profit.
Credit
Risk when company give credit
facility to customers.
Buy on installment - potential to
be bad debt if not able to
recover from customer for a
long period of time.
Foreign
exchange
Risk due to increase or
decrease of foreign currency
rate.
Import/Export business – RM
foreign product expensive;
RM our product becomes
cheap => Profit Margin
22. Seeing Opportunities
• Simply understand that there is little
difference between obstacle &
opportunity
– able to turn both to their advantage
•The opportunities for potential
entrepreneurs are unlimited.
Technology is perhaps the
most dramatic force
shaping the marketing
environment.
Here, a herder makes a
call on his cell phone
23. Step 4: Selecting a business
opportunity and preparing a
business plan
• After fulfill step 1 to 3,
it is time for the entrepreneur to
select a business opportunity.
• Then to prepare the business
plan.
24. Summarize
Process of Identifying, Evaluating & Selecting
Business Opportunity
Step 1
Step 1
Identifying
Identifying
the needs
the needs
& wants of
& wants of
customers
customers
Step 2
Step 2
Scanning the
Scanning the
environment
environment
& evaluating of
& evaluating of
self the
self the
community
community
Step 3
Step 3
Screening of
Screening of
business
business
opportunities
opportunities
Step 4
Step 4
Selecting a
Selecting a
business
business
opportunity
opportunity
& preparing a
& preparing a
business plan
business plan
26. What is CREATIVITY??
“the ability to produce work
that is novel (i.e. original
and unexpected), high in
quality and appropriate (i.e
useful, meet expectations)
27. Process of Creativity
•
Compile all info/data.
•
Via reading, investigation
•
Try get rid of problems.
•
Generate creative ideas.
Ideas
•
Slowly formulating
solution.
Evaluation &
Implementation
•
Transform idea into
reality, then into business
activities.
Knowledge Accumulation
Incubation
28. Methods to Generate Creative Ideas
Brainstorming
Do It
Forced Analogy
Mind
Mapping
30. What is INNOVATION??
“the process by which
entrepreneurs convert
opportunities into
marketable ideas.”
31. •A new product or service
Business
Idea
•Enhancement of an existing product
•A new market for an existing product
•A new application for an existing product
•A source of grants or awards
•Better arrangements with suppliers
•Better promotion & advertising
•Greater efficiency of ordering
•New contact sources
32. Forms on Innovation
• Product Innovation: the changes in the things (product or
services) that an organization offers. E.g. new design of car, new
generation of aircraft A380.
• Process Innovation: the changes in the ways in which
product/services are created and delivered. E.g. JIT
Manufacturing.
• Position Innovation: the changes in context in which
products/services are introduced. E.g. Johnson & Johnson
product not only for babies, but also for adult.
• Paradigm Innovation: the changes in underlying mental
models which frame what the organization does. E.g. shift to lowcost- airlines, online insurance.
33. Are they the same???
3.1 Business Opportunity
3.2 Business idea
3.3 What is Innovation?
3.4 Strategies to Encourage Creativity & Innovation
Definition
Creativity
Ideas that improve
Efficiency/effectiveness
of a system
The generation of ideas that result in the
improved efficiency or effectiveness of a system.
Innovation
Turning ideas into
Marketable
Goods / Services
Process by which entrepreneurs convert
opportunities into marketable ideas. It is the
means by which they become catalysts for
change.
34. Types on Innovation
• Invention: the creation of a new product,
service, or process, often one that is novel or
untried.
• Extension: the expansion of a product,
service, or process already in existence.
• Duplication: the replication of an already
existing product, service, or process.
• Synthesis: the combination of existing
concepts and factors into a new formulation.
35. I have always been bored with just making money
I have wanted to do things; I wanted to build things
Walt Disney
GEN 2
Example :
Creativity & Innovation in
WAJA
PROTON
PERDANA
Source:
Kretiviti & InnovasiKAKS 2007 –
Datin Prof.. Madya Norlela Nuruddin
(MEDEC)Uitm,S.Alam
SATRIA
INNOVATION Experiences
WIRA
ISWARA
SAGA
Discuss in a group & present to the class
36. TARGET INDUSTRIES
WHERE
KNOWLEDGE
IS APPLIED
No of Techno
Aviation &
Aerospace
120
Biotech/
Bioprocess
No of Techno
75
Automotive
110
Medical &
Health Services
30
Marine
Engineering
75
Transport &
Logistics
40
ICT
Electrical &
Electronics
Oil & Gas
Building
Technology
295
170
50
35
37. Conclusion
3.1 Business Opportunity
3.1 Business Opportunity
3.2 Business Idea
3.2 Business Idea
3.3 What is Innovation?
3.3 What is Innovation?
3.4 Strategies to Encourage Creativity
3.4 Strategies to Encourage Creativity
and Innovation
and Innovation