Chapter 4 Flashcards
Creating and recognizing new opportunities (3 cards)
1
Q
Name and define 4 pathways to opportunity identification.
A
- Find (opportunities exist and are waiting to be found)
- Search (entrepreneurs search actively what type of businesses they want)
- Effectuate (knowing my skills and develop an idea that fits me)
- Design (create something innovative by identifying unmet needs)
2
Q
Define IDEATE method to generate high-potential ideas.
A
Identify (problems and causes)
Discover (search for ideas that leverage your passions, experiences, curiosity)
Enhance (add innovation & novelty to enhance existing products)
Anticipate (Anticipate change and their impact)
Target (explore target market and its unmet needs)
Evaluate (select higher quality ideas)
3
Q
What are the 6 ways to generate ideas?
A
- Scanning
- Connecting
- Lateral thinking
- Imagining
- Observing
- Collaborating
