Creativity Business Idea and Opportunity Analysis

Creativity Business Idea

and Opportunity

Analysis

Entrepreneurial Motivation

What motivates an entrepreneur to go into new venture

What is motivation?

“Motivations refers to the way in which urges, drives, desires,

striving, aspiration or needs direct, control or explain the behavior of

human being”

Dalton E.McFarland

Elements Of Motivation

Motivation Theories

Maslow’s Theory• Based on human needs

Alderfer’s Theory• Existence,relatedness,growth

Herzberg’s Theory• Hygiene factors, satisfiers

Maslow’s model of motivation

Maslow’s model of motivation

The first two called primary need,

concerned with our basic physical

requirement to sustain life. The last three

stages he calls secondary needs.

e.g.If we are hungry or physical

exhausted we are less concerned about being

sociable.

Alderfer’s model of motivation

Alderfer developed Maslow’s theory by

suggesting three group of needs…….

…He called this the ERG theory

Existence Need

Relatedness Need

Growth Need

Needs of Alderfer

To do survival

Social belonging

Ind.development

Herzberg’s model of motivation

Hygiene factors

security

Salary

He categorize motivation……

Business Idea

Sources of New Idea Consumers Existing Products and Services Distribution Channels Government Regulations Research & Development

Methods of Generating IdeasFocus Group: Groups of individuals providing

information in a structured format

Helps in generating new product ideas Group of 8-14 participates A moderator to ensure the right direction of the

discussion Excellent method for initially screening ideas and

concepts

Methods of Generating IdeasBrain Storming: Group method for obtaining new

ideas and solutions No Criticism allowed Freewheeling is encouraged- the wilder the idea

the better Quantity of ideas is desired Combinations and improvements of ideas are

encouraged Discussion should be fun- no dominating or

inhibiting the discussion

Methods of Generating IdeasProblem Inventory Analysis: A method for obtaining

new ideas and solutions by focusing on problems Analogous to focus groups to generate new ideas Participants are provided with the list of problems in a

general product category. Easier to relate problems to a known product and

finding solutions to it. Results must be carefully evaluated whether or not

they reflect a actual new product idea.

Creative problem solving is a method for obtaining new ideas focusing on

the parameter

Creative Problem Solving

Creative Problem Solving Brainstorming: A method of obtaining new ideas

focusing on the parameters,. Reverse Brainstorming: Brainstorming with

criticism is allowed or finding faults by asking questions. Brain writing: Brainstorming in writing giving

participants more time to think. Gordon Method: Developing ideas when group is

unaware of the problem. This ensures that the solution is not clouded by preconceived ideas and behavioral patterns.

Ideas-Concept Development- Actual Problem revealed-Suggestions

for implementation-refinememt of new idea

Creative Problem Solving Checklist Method: developing a new ideas through

the list of related issues or suggestions. This list can take any form like questions or statements and be of ay length.

Free Association: Developing new idea through a chain of word association.

Collective Notebook Method: developing a new idea by group members regularly recording ideas

Attribute Listing: Developing a new idea by looking at positives and negatives.

Big-Dream Approach: developing idea by thinking without constraints.

Creative Problem Solving Parameter Analysis: developing idea by focusing

on 1. Parameter identification2. Creative synthesis

Technology Observatio

n

Need Analysis

Step 1Parameter Identificatio

n

Step 2Creative

SynthesisRealization

Parameter AnalysisMarket Need

Invention which meets the need

The Invention Process

Forced Relationship: developing new idea by looking at product combinations

1. Isolate the elements of the problem2. Find relationships between these elements3. Record relationship in a orderly form4. Analyze the resulting relationships to find ideas or patterns5. Develop new ideas from these patterns

Creative Problem Solving

Element: Paper & SoapForms Combination/ Relation Idea/ PatternAdjective •Papery Soap

•Soapy Paper•Flakes•Wash & Dry travel aid

Noun •Paper Soaps •Tough paper impregnated with soap

Verb-Correlates

•Soaped Papers•Soap “wets” Paper•Soap “Cleans” Paper

•Booklets of soap leaves•In coating and impregnating processes•Suggests wallpaper cleaner