bus b328f autumn 2015 lecture 01

7/24/2019 BUS B328F Autumn 2015 Lecture 01

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US 328F

Investigating

Entrepreneurial

Opportunit ies

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US 328F

Investigating

Entrepreneurial

Opportunit ies


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Investigating Entrepreneurial Opportunities

1-1-22BUS B328F Autumn 2015 OUHK

BUS B328F

InvestigatingEntrepreneurialOpportunities

Lecture 1 :Innovative Ideas

Welcometo


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Lecture contents

Study Mode and Aims

Course Outline

Assessment & Assignments

nno!ati!e deas and ty"es o# inno!ation

Common $arriers to new ideas and

%anges


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Purposes

ntrodu%ing $usiness %on%e"ts and analysistat are use#ul #or de!elo"ing and

sustaining a su%%ess#ul $usiness !enture.

(n%ourage te initiations o# !enture ideastat stands a strong %an%e o# su%%ess.

Sar"en te $usiness idea wit %learer

#o%us) targeted mar*et and de#inedstrategies) o# wi% te $usiness "lan

sould $e attra%ti!e to in!estors.


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Learning outcomes

Initiate innovative business ideas #or !enturede!elo"ment , troug e##e%ti!e de"loyment o#

resour%es in#ormation as well as networ*ing troug

identi#i%ations o# "ro#ita$le ga" and %onsumer needs

Create a competitive venture and a sound

business plan$y demonstrating a""ro"riate

a""li%ations o# management #ramewor*s and

resear% te%niues. Foster entrepreneurial decision-making skills, in

$uilding enter"rising %a"a$ilities wit a #o%us and

%om"etiti!e strategy.


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Study Mode: 0KO0 Materials

wo wor*$oo*s 4 Ca"ters5

Sel#-diagnosti% tests A%ti!ities5 , we$site

Case-studies , 0KO0 we$site

Assignmentsfor creating a business plan

A lots o# $rainstorming) #antasi6e $e%oming an

entre"reneur5) simulated e7er%ise) role "lay)

dis%ussions and most im"ortant o# all 8 sel#-

dis%i"lined in learning and %ondu%ting resear%


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Syllabus Outline Course

Contents Sour%es o# inno!ati!e ideas and ty"es o# inno!ation Attri$utes and %ara%ters o# (ntre"reneurial !entures ,

re!iew o# resour%es) networ* and $usiness "otential

denti#y %om"etiti!e issues o# a start u",%riti%alsu%%ess #a%tors) !alue %ain analysis) :&C models

Alignment o# %om"etiti!e #a%tors and internal

strengt.

0nderstanding mar*eting mi7 and mar*ing resear%

S%o"ing te mar*et and %ustomer needs

;usiness "lan and #inan%ing issues


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Assessment 10 Credits

CourseContinuous Assessment 4


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1-1->>BUS B328F Autumn 2015 OUHK

Assignments (y !roups"

#1: Your Entrepreneurial Venture

propose your product or service, the

target market, customers and your

strengths

#2: Your resources and capabilities to

support the venture


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Assignments by

groups#$ % final "ritten report and &resentation '

incorporating all the feedbacks in the class

(applying concepts)* presentation focuses

a. (7"lain wy te !enture is inno!ati!e$. e target mar*et) segments) $ene#its and

%om"etitors

%. e internal resour%es and e7ternal networ*and sta*eolders needed #or laun%ing

d. 0ltimate o$?e%ti!es and measure o# su%%ess

o!er time.

I ti ti E t i l O t iti


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Idea Entrepreneur Capital

Team/Firm

ar!et

Attra%t See*s

(na$les

Com"ete

+ession nnovative deas

$ig 11 &usiness 'om(etition 'hain



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Where to start?

@ (7"erien%e

@ etwor* , #riends and relati!es5@ O$ser!ations Ma%roMi%ro5

@ Dream Bantasi6ing



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Sources of New Ideas

" C#n$umer$

" E%i$tin& 'r#du(t$ and Ser)i(e$

" *i$tri+uti#n C,annel$

" -#)ernment

" . *

See more Box 1.1 (p10, Workbook 1) for a list of

common sources of innovative business ideas1'



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Quality of business ideas

me t## (#n(ept (#pin& #r imitatin& appl #t,er pe#ple4$ +u$ine$$ m#del int# a

ne (#nte%t6 l#(alit #7 indu$tr

'r#du(t it, di$tin(ti)e uni9ue: 7eature$

'r#du(t it, pr#minent $uperi#r: 7eature$

'r#du(t 7ul7il a ne &ap

'artl;7#rmed #r 7ull 7led&ed idea Ser)i(e #77er $#luti#n$ t,at ir#n;#ut

in(#n&ru#u$ ,appenin&$

1+

In estigating Entreprene rial Opport nities


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#dea$generating tric%s (&o' "

;rainstorming witout %riti%ism) (la$orating ideas)

Bantasi6ing and de!elo"ing s%enarios)

Consider attri$ute) %riteria and %ara%teristi%s o#alternati!e a""roa%es) multi"le %onseuen%es

De!elo"ing analogies $etween %ir%umstan%es

:earranging) re!ersing) e7"anding) srin*ing%om$ining or altering ideas or imitating

Ad!i%es #rom e7"erts and te e7"erien%ed



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What is Creativity ( : =

Art,ur -#&at? and .eu+en #nde@ar 2005



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)e*nitions

Carrin& #ut #7 ne combinations #77irm #r&ani?ati#n new products, new services,

new market,

new sources of raw materials supplies,

new methods of production,

new forms of or!ani"ations

Schumpeter (1934)



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21

Year Firm Product Reasons for

Failure

15 C#met Airline$ Fir$t pa$$en&er airline Sa7et (#n7iden(ea7ter 7atal (ra$,e$

10$ atne$ .edBarrel

Beer Brein& D# ualit

10$ Ger#% 'er$#nal (#mputer6 la$erprinter and Et,ernet

C#mmer(ial 7ailure

15 S#n4$ Betama% ide#;tape $$tem Hi&, (#$t and ri)alHS

185 Cli)e Sin(lair Ele(tri( 3;,eel (ar Sa7et

15 Apple4$ e;#rld e+ 7#rum and p#rtal Clear de$i&n +ut n#tea$ na)i&ati#n

2000 B##=(#m E;(#mmer(e 7#r $p#rtand $treet ear mar!et

r#n& (u$t#mer7#(u$

Te(,n#l#& OK=

$aie! nnovations ;o7 1.2) P1+) or*$oo*5



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#ypes of innovation

Bi& +an& re)#luti#nar / di$(#ntinu#u$

In(remental/ &radual $mall;$tep

(,an&e$

a:Te(,n#l#&i(al (,an&e$ te(,n#l#&; pu$,

appr#a(,:

+:ar!et (,an&e$ (u$t#mer;pull appr#a(,:(:Stru(tured #r #pp#rtuni$ti(

d:Indi)idual #r S#(ial inn#)ati#n e77#rt$:



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Creative $inka!e % viable ?

ar!eta+ilit ali&nment #7 (u$t#mer$

it, pr#du(t$(&i!ht ' arket, )roduct and

#ime*

"arket #esearch $ %aps anal&sis

'ar%et market $ sie

aps in products

aps in competitive advanta%es

aps in access (or presence of

barriers)



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Clusters

*e7initi#n$ ; A $et #7 (#;l#(ated +u$ine$$a(ti)itie$ #r 7irm$

A (#mpetiti)e ad)anta&e 7#r (reati)it

and e77e(ti)e inn#)ati#n

2'



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Creative $inka!e % viable ?(* ne source of innovations+ ne methodsof %atherin% market information, financin%

and distributions) lusters e=&= Sili(#n alle

a)aila+ilit and $,arin& #7 $!ill$6 re$#ur(e$6

!n#led&e6 de)el#pment6 te(,n#l#&ie$6

partnerin&6 #ut$#ur(in& need$ et(= -etorks; T,e emer&en(e #7 ICT

$upp#rted +u$ine$$ net#r!



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nternal

(7

ternal

So%ial

ndi!idual

Clusters Planned

etwor*ero

nno!ator

nnovative -heories (.igure /0, p!, 1orkbook )



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+dvanta!es of bein! with Clusters

C#mpetiti)e .elati#n$ C##perati)e .elati#n$

O77erin& #7 !n#led&e de)el#pment

C#mplementar in re$#ur(e$ $,arin&

Stren&t,$ in net#r!in&6 in(u+atin&6

pr#li7erati#n

=B=J '#rter4$ Fi)e F#r(e$ Anal$i$ addre$$ mainl

(#mpetiti)e relati#n$=



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C,apter 1J Ke '#int$

T,e lin!$ +eteen entrepreneurial idea$and di77erent tpe$ #7 inn#)ati#n$

Ke in7luen(e$ #n t,e pr#(e$$ #7 inn#)ati#n

Identi7in& t,e inn#)ati#n p#tential$ #7 #uridea

Anal?in& t,e p#tential mar!et 7#r #ur

inn#)ati#n in term$ #7 (u$t#mer +ene7it$ Ke 7a(t#r$ in7luen(e $u((e$$ and 7ailure #7

t,e inn#)ati#n pr#(e$$



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ental lock to Creativity

'er(epti#n Bl#(!

Em#ti#nal Bl#(!

Cultural Bl#(! Ima&inati#n Bl#(!

En)ir#nmental Bl#(!

Intelle(tual Bl#(!

+ll these are obstacles to Creativity

Blind Sp#t

bus b328f autumn 2015 lecture 01

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