2.06 Employ entrepreneurial discovery strategies to generate feasible ideas for business ventures/products.

Why do companies need to generate new ideas? To generate new ideas for new businesses, entrepreneurs often look for ways to Solve problems

Creative thinking Creative thinking process helps aspiring entrepreneurs generate venture ideas

Brainstorming sessions… A facilitator (leader) is needed to keep the group on track Wise use of time Encouraging participation and creativity Remains objective and flexible

New ideas….. Advantages Disadvantages Brainstorming sessions can be unstructured and quickly become out of control Advantages More money Increased creativity Better society More pleasant working environment Better products and services Better management Improvements in productivity and reliability

What questions help with idea generation? Clarifying questions – those that help ensure a full understanding of topics; essential for all team members to be working with common knowledge for planning problem solving. Exploratory questions – emphasize possibilities that have not yet been discussed; enhance teams ability to find creative solutions. Why questions – these examine the underlying rationale for actions, processes, or circumstances; useful for problem solving, planning and several other purposes.

THE CREATIVE PROBLEM SOLVING CYCLE

Where do I start….. Observe what's around you and what's been done before. Ask for product ideas from customers. Think creatively about pre-existing products.

activity Use the materials provided to: (note to teachers: give students a random collection of items i.e. ribbon, plates, paper clips, forks, spoons, rubber bands, etc.) Use the information you have learned today to brainstorm ideas to create a “new” product Be prepared to share, explain and sell your product to the class

Activity Your teacher has just informed you that you have a midterm coming up. You know you have to study, so you and your classmates form a study group, but you are struggling to know where to begin and remember key concepts. You decide you need a new way to study. You are tired of the boring study guide method, and you want to do something “FUN”. In your group, use some of the strategies/techniques/methods we have talked about in class to generate a “new” product for studying (ie. the product is an idea or new creation for studying – study games?) Helpful hints: What current methods do you use to study?