1. ENTREPRENEURSHIP Lecture No: 16 BY CH. SHAHZAD ANSAR

2. CREATIVITY AND THE BUSINESS IDEA

3. Methods of Generating Ideas

4. Focus Group  Group of individuals providing information in a structured format  This consists of individuals form different socioeconomic areas  The number of individuals vary from 8 to 14  It is an excellent method for initially screening ideas and concepts

5. Brainstorming A group for obtaining new ideas and solutions A group for obtaining new ideas and solutions Four rules to be followed are: 1. No criticism is allowed by anyone in the group 2. Freewheeling is encouraged 3. Quantity of ideas is desired 4. Combinations and improvements of ideas are encouraged

6. Problem Inventory Analysis Method for obtaining new ideas and solutions by focusing on problems Method for obtaining new ideas and solutions by focusing on problems It is used to test a new product idea It is used to test a new product idea Results from product inventory analysis must be carefully evaluated as they may not actually reflect a new business opportunity Results from product inventory analysis must be carefully evaluated as they may not actually reflect a new business opportunity

7. CREATIVE PROBLEM SOLVING A method fro obtaining new ideas focusing on the parameters A method fro obtaining new ideas focusing on the parameters Creativity is the most important attribute of a successful entrepreneur Creativity is the most important attribute of a successful entrepreneur Creativity tends to decline with the lack of use. Creativity tends to decline with the lack of use.

8. CREATIVE PROBLEM SOLVING It includes: Brainstorming Brainstorming Reverse brainstorming Reverse brainstorming Synectics Synectics Gordon method Gordon method Checklist method Checklist method Free association method Free association method Forced relationship Forced relationship

9. CREATIVE PROBLEM SOLVING Collective notebook method Collective notebook method Heuristics Heuristics Scientific method Scientific method Value analysis Value analysis Attribute listing Attribute listing Matrix charting Matrix charting Big dream approach Big dream approach Parameter analysis Parameter analysis