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Technique for generating new businees idea for growth
- 1. Active Learning Assignment as partial fulfillment of the term work in the subject Entrepreneurship (2181923)
- 2. Name Enrollment No. ◦ Gajera Krunal 160140119022 ◦ Gamit Sandip 160140119023 ◦ Gandhi Mihir 160140119025 ◦ Ghoghari Sagar 160140119026 ◦ Ghoniya Bhargav 160140119027
- 3. Definition of IDEA An Opinion, A conviction, A thought or conception which exist in the mind Ideas are instigators Ideas are business thought starters A good idea doesn’t suggest” wouldn’t it be cool if cars fly? A good idea tells the entrepreneur how to make a car fly” Oliver Reichenstein (2005) Businesses are based on business ideas The more realizable the idea, the more its worth.
- 4. Brainstorming This is the process of thinking through a specific topic to generate several ideas. Brainstorming sessions could be formal or informal One person trying to fish forideas Group of people with a moderator thinkingthrough each others idea. Brainstorming sessions are usually informal since relaxed atmosphere produces better ideas. Barringer & Ireland(2012).
- 5. Research Library- Research Internet- Research These two sources provide industry informationand point to sources of niche in the industry
- 6. Family, Friends, Experiences Bouncing ideas off Spouses Family Friends Work Colleagues Life’s Experiences. Customer service experiences Pleasant accidents and surprises
- 7. Persona llumination Sometimes ideas drop into the mind of an entrepreneur at the spare of the moment and inthe moment of quietness. Sometimes while staring at a product or thinking about a service, an idea popsup. Sometimes while pondering over a problem or achallenge, ideas are generated.
- 8. What to do to be Effective at Idea Generation : For an entrepreneur to be effective at idea generation, there is the need for the following Know the industry-perfect knowledge of the industry Identify sources of opportunity in the industry Be Open to all ideas and curious enough to gather enough information about the idea Temper big ideas and dreams with reality.