LESSON 2

• Problem inventory analysis


  This method also uses surveys or group opinions, similar to the Delphi technique, to create business ideas
• Statistical analysis


  Statistical method used for collecting and analyzing data to know the current trends. This method uses numbers to analyze data so that there are no biases in the results
• Sources of ideas for entrepreneurial ventures

  • From the product
  • From the process
  • From the person
  • From the relationship
• SWOT Analysis


  This method helps to analyze and monitor the important aspects during a project. It is a strategic planning technique to identify strengths, weaknesses, opportunities, and threats
• Brainstorming


  Informal approach to problem-solving where people come up with different ideas to generate new concepts
• Objectives of Market Analysis


  • Know your market
  • The market is large enough to build a sustainable business
• Market Analysis


  This method can be applied to qualitative research or quantitative assessment of a market. It looks for the size of the market, various customer segments, and their buying habits
• Free association method


  A method similar to brainstorming where individuals think freely while connecting thoughts to generate ideas
• Delphi technique


  This method helps in generating new business ideas through gathering group opinions or decisions using surveys. Experts use surveys with different questionnaires and share the responses with the groupmates
• Confluence approach


  • Intellectual abilities
  • Broad, rich knowledge base
  • Appropriate style of thinking
  • Personality attributes
  • Intrinsic, task-focused
  • Environment supportive of creative ideas
• Connect your ideas with other observations
• You must be a keen observant of everything
• Techniques in generating business ideas in a creative way

  • Think like an artist
  • Give your team flexibility
  • Learn from people that aren’t like you
• Factors that influence creativity

  • Problem solving factors
  • Motivational factors
  • Situational factors
  • Organizational factors
• Watch out for things of a good service that can be improved
• Free association method


  This method is the most obvious brainstorming because people need to think freely while connecting thoughts to subjects
• Several ways of connecting ideas

  • Comparing them
  • Linking them
  • Looking at similarities and differences
  • Looking for trends
• Parnes-Osborn model 1950 consists of two people: Alex Osborn, Dr. Sidney Parnes. These two developed two rational thinking processes
• Convergent thinking


  This is a process that comes up with the selection of the problem
• Steps in the Parnes-Osborn model 1950

  • Setting the objective
  • Revisiting the objective
  • Identifying the problem
  • Looking for a solution
  • Selecting a solution
  • Accepting the solution
• Scientific method


  Procedure that also answers problems but using rational thinking
• Problem inventory analysis


  This method also uses survey or group opinions like delphi technique in creating business ideas
• Generating business ideas through trends

  Systematic methodologies focus on products, services, or ideas of a business
• Creativity problem solving


  CPS (creative problem solving) is a procedure that answers problems with techniques and creativity
• Look at ways on how something can be viewed from different perspectives
• Divergent thinking


  This method helps to enumerate the possible problems, issues, and challenges
• All we need to do is

  • Avoid editing or rejecting any ideas
  • Be open to all possibilities
  • Develop the art of connecting ideas