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Chapter 5 - Creating and Starting The Venture

This document discusses sources of innovation for new ventures and barriers to creativity and creative decision making. It provides examples of sources of innovation like incongruities in the market, changing needs or demographics. Impediments to creativity mentioned include fear, defensiveness, and cultural inhibitions. Organizational barriers include stress on failure, instability, and excessive rules. The document also outlines the creative process and methods for generating new ideas like brainstorming and problem analysis.

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Arman
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216 views19 pages

Chapter 5 - Creating and Starting The Venture

This document discusses sources of innovation for new ventures and barriers to creativity and creative decision making. It provides examples of sources of innovation like incongruities in the market, changing needs or demographics. Impediments to creativity mentioned include fear, defensiveness, and cultural inhibitions. Organizational barriers include stress on failure, instability, and excessive rules. The document also outlines the creative process and methods for generating new ideas like brainstorming and problem analysis.

Uploaded by

Arman
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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5-1

Chapter

Creating and Starting The Venture

5-2

Whats New About The New Venture?


A. New Knowledge?- Human Knowledge?Genetic Structure B. New Technology?- How To Technology?Modify It C. New Products?- New CancerProducts?CancerSuppressing Drugs D. New Services? New Tests For Services? Cancer E. All Of The Above?- New System Above?For Doing Business

5-3

Sources of Innovation
Source
Incongruities Process Needs Industry/Market Change Demographic Changes Perception Change KnowledgeKnowledge-Based Concepts

Examples
Overnight Package Delivery SugarSugar-Free Products, Caffeine-Free CaffeineCoffee, Microwave Ovens Health Care Industry Changing to Home Health Care Rest Homes/Retirement Centers for Older People Exercise (Aerobics) & Growing Concern for Fitness Video Industry: Robotics
5-4

Success: Apple Computer Unexpected Occurrences Failure: Ford Edsel

Impediments to Creativity
1) Fear & Anxiety

2) Defensiveness

3) Cultural Inhibition
5-5

Organizational Hindrances To Creativity Process


Stress On Consequence Of Failure Organizational Instability Excessive Rules, Policies, Relationships, & Procedures Highly Centralized Organizational Structure Little Time Allocated To Thinking & Experimenting
5-6

Barriers To Creative Decision-Making Decision Searching for one


right answer

Becoming overly
specialized

Focusing on being
logical

Blindly following rules Constantly being


practical

Avoiding ambiguity Fear of looking foolish Fearing mistakes &


failure

Believing that Im not


creative
5-7

Viewing play as
frivolous

Sources Of New Ideas


Consumers Existing Products/Services Distribution Channels Federal Government Research & Development
5-8

Methods of Generating Ideas


Focus Groups Brainstorming
No Criticism Freewheeling Large Quantity Of Ideas Combinations/Improvements Encouraged

Problem Inventory Analysis


5-9

Creative Process
1) 2) 3) 4) 5) 6) 7) Preparation Investigation Transformation Incubation Illumination Verification Implementation
5-10

Creative Problem Solving


Brainstorming Reverse Brainstorming Brainwriting Gordon Method Checklist Method Free Association Forced Relationships Collective Notebook Method Attribute Listing BigBig-Dream Approach Parameter Analysis
5-11

Invention Process
Technology Observation Parameter Analysis Parameter Identification Realization of Invention Creative Synthesis

Market Need Analysis

5-12

Additional Sources of New Ideas


Opportunity Recognition Product Planning/Development
Establish Evaluation Criteria Idea Stage Concept Stage Product Development Stage Test Marketing Stage
5-13

Determining Need
Type of Need Timing of Need Competing Ways to Satisfy Need Perceived Benefits/Risks Price vs. Performance Features Market Size & Potential Availability to Customer Funds
5-14

Determining New Product Value


Cash
Outflow Inflow Net

Profit Relative Return Compared To Other Investments


5-15

Sources of Extraordinary Profit


1) Monopoly Power 2) Consumer Ignorance 3) Cost Leadership 4) Product Differentiation 5) Innovation 6) Speed To Market
5-16

Stages of Innovation
U N I Q U E N E S S Breakthrough Innovation Technological Innovation Ordinary Innovation

NUMBER OF EVENTS
5-17

E-Commerce & Startup


E-Commerce Creativity Website Tracking Customer Information Entrepreneurial Company
5-18

Checklist for Website Design


Professional Outlook Credibility Functionality Characteristics
 Speed  Ease of Use  Customization  International Orientation  Browser Compatibility
5-19

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