Creativity and generating business ideas by J.M. pant

Module 2: Creativity and Generating Business Ideas Opportunity Recognition Six Thinking Hats J.M.Pant Management Consultant, Trainer and Visiting Professor [email_address] A presentation by J.M.Pant Program on Educational Entrepreneurship For More details, visit : www.mmpant.net

Ideas and Business Opportunity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Ideas and Business Opportunity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Opportunity Recognition ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Opportunity Recognition Process ,[object Object],A presentation by J.M.Pant Personal experiences Work experiences Experience Education Prior knowledge of markets and customer problems Entrepreneurial alertness Networks Outcome: Successful Opportunity Recognition

Product Planning and Development Process ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

New Product Planning and Development Process ,[object Object],A presentation by J.M.Pant Test marketing Stage Concept Stage Product develop-ment Stage Idea Stage Idea Evaluate Laboratory development Evaluate Pilot operation run Evaluate Trial Evaluate Introduction Growth Maturity Decline Commercialization stage product life cycle

Evaluation Criteria ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Determining the Need for New Product Ideas A presentation by J.M.Pant Factor Competitive capabilities New product idea capability Type of need Continuing need Declining need Emerging need Future need Timing of need Duration of need Frequency of need Demand cycle Position in life cycle Competing ways to satisfy need Doing without Using present way Modifying present way

Determining the Need for New Product Ideas A presentation by J.M.Pant Factor Competitive capabilities New product idea capability Perceiving benefits/Risks Utility to customer Customer tastes/preferences Buying motives Consumption habits Price vs performance features Price-quantity-quality relationship Demand elasticity Stability of price, market Market size and potential Market growth, trends, threats Availability to customer funds Economic scenario, income Financing opportunities

Change Provides Opportunity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Entrepreneurs Exploiting Change ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Change Related To……. ,[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Start Up Entrepreneurs ,[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

<Examples> A presentation by J.M.Pant Enhancement Extension Niche DOS to Windows Pen with torch Low cost airlines- Ryan air, easy jet, Spicejet, Indigo Desktop PC to laptop Mobile with camera Specialty hospitals Conventional TV to LCD to LED TV Day care centers with tuition Finishing schools Mechanical watch to quartz watch Creche with pick up and drop facility Placement for specific sectors

Incremental and Radical Innovation ,[object Object],A presentation by J.M.Pant Time Performance/ Cost Improvements Radical Innovations

The S-curve ,[object Object],A presentation by J.M.Pant Time/Investment T1 T2 Performance Established Technology New Rival

Six Thinking Hats ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Six Thinking Hats ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

White Hat ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant Experience the white hat

Red Hat ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Black Hat ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Yellow Hat ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Green Hat ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Lateral Thinking ,[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Lateral Thinking ,[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Creative Approaches A presentation by J.M.Pant Brainstorming Focus groups Reverse brainstorming Brain writing Checklist method Attribute listing Random word-free association Problem inventory analysis Big dream approach Out of the box thinking

Blue Hat ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Project Work For The Week ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

Project Work For The Week ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],A presentation by J.M.Pant

A presentation by J.M.Pant Thanks

Creativity and generating business ideas by J.M. pant

Creativity and generating business ideas by J.M. pant

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Creativity and generating business ideas by J.M. pant