GENERATING IDEAS: HARNESSING LOGIC AND CREATIVITY CHAPTER II

SOURCES OF IDEAS FOR ENTREPRENEURIAL VENTURES

FOUR MAJOR SOURCES a)From the product b)From the process c)From the person d)From relationships

FROM THE PRODUCT Entrepreneurs can source their business from existing products or services. Many entrepreneurs have introduced new products and services by differentiating them from those currently in the market. You can differentiate a product by changing its shape, size, color, and contents.

FROM THE PROCESS Business ideas can likewise arise from the process of production and distribution

FROM THE PERSON When business ideas are sourced from the person, the individual examines his/her interests, hobbies, skills, dreams, and even his/her travels.

FROM RELATIONSHIPS - The last category of sources is from relations. Many Filipino-Chinese individuals sourced their entrepreneurial ideas from families and relatives - Friends and classmates can also be sources of business ideas and partners.

METHODS FOR GENERATING OR TESTING NEW IDEAS

GENERATING BUSINESS IDEAS THROUGH LOGICAL THINKING Statistical analysis Market analysis SWOT (strengths, weaknesses, opportunities, threats) Delphi technique

GENERATING BUSINESS IDEAS THROUGH CREATIVE THINKING Brainstorming Problem inventory Free association method

GENERATING BUSINESS IDEAS THROUGH TRENDS IN BUSINESS ENVIRONMENT

CREATIVITY: A NEW WAY OF LOOKING AT THINGS

FACTORS THAT INFLUENCE CREATIVITY a)Problem solving factor b)Motivational factors c)Situational factors d)Organizational factors

CREATIVE PROBLEM SOLVING 1.Setting the objective 2.Revisiting the objective 3.Identifying the problem 4.Looking for a solution 5.Selecting a solution 6.Accepting the solution