1. SOUND BUSINESS IDEA A firm operate in a dynamic environment where success and failure is determined by how well they match and counter the offerings of competitors. Getting ahead of the competition assures the survival and growth of a business. Possible ways of achieving this are: 1. better performing 2. more economically 3. lower acquisition cost 4. higher salvage value 5. more uses 6. more easily available 7. less susceptible to obsolescence

22. a.) Brainstorming – group creative problem solving process that focuses on the following procedures: (1) No negative feedback is allowed on any suggested alternative until all alternatives have been generated (2) Quantity of ideas, not quality, is the key b.) storyboarding – a structured, but flexible brainstorming process that focuses on identifying major issues and then brainstorming each of them Group Creative Technique

23. 2. Nominal Group Technique – involves a structured process for integrating individual thinking and group interaction in order to capitalize on the benefits of both. 3. Delphi Technique – involves utilizing a series of questionnaires administered by a central individual to experts who never meet face to face. As the respondents reply, their questionnaires are summarized, and a new questionnaire, based on their responses to the first to developed and sent to them. This repeating process continues until a group consensus on the problem is reached Group Creative Technique