ch 3 Flashcards
what are the 3 central characterisitcs of an opportunity
- potential economic value
- novelty or newness
- Percived desirability
what is
generating value through unexploited products, services, or processes
opportunity
what are the 3 forms of value
economic
social
environmental
what are the 5 elements of social innovation
- social need
- innovative element
- implementation and execution
- imporvements
5 relationships and collaboration
what is the first step to finding a strong opportunity
idea generation
what are the 7 strategies for idea generation
- Analytical start
- Search strat
- Imagination strategy
- Habit-breaking strat
- Relationship-seeking strat
- Development strat
7.
strategy:
generating ideas about how products can be improved
analystical strategy
strategy:
making links based on past experiences
search strategies:
strategy
creating unrealistic states
imagination based
strategy
gaining a new perspective
habit breaking
strategy
making links between ideas
relationship seeking
strategy
modifying existing ideas
development strategies
4 pathways of opportunity
- valuable: market for customers
- rare” novelty for customers
- fit:based on skills and knowledge
- costly to imitate: barriers for other entrepreneurs
what is the IDEATE model
- identify
- discover
- enhance
- anticipate
- Target
- Evaluate
ideate:
problems that customers are currently trying to solve
identify
IDEATE
actively searching for ideas in problem-rich environments.
discover
IDEATE
taking the ideas and expanding to new applications or adding innovative twists.
enhance
IDEATE
studying change and analyzing future scenarios as they relate to social, technological, or other global changes and trends
anticipate
IDEATE
defining and understanding a particular target market, validating new ideas with early adopters
target
IDEATE;
evaluating whether the solution solves a problem, size of target market, and skills etc.
evaluate
