Week 2 (in book terms) Flashcards
Solo entrepreneurs
Those who identified their business ideas on their own
Network entrepreneurs
Those who identified their ideas through social contacts
Strong-tie relationships
Characterized by frequent interaction, such as ties between coworkers and friends.
Weak-tie relationships
Characterized by infrequent interaction, ties such as casual acquaintances.
Research results of weak-tie relationships and entrepreneurial business ideas
An entrepreneur is more likely to get a new business idea through weak-tie relationship.
> > Strong-tie relationships -which typically form between like-minded individuals, tend to reinforce insights and ideas the individuals already have.»_space; Weak-tie relationships, on the other hand, which form between casual acquaintances, are not as apt to between like-minded individuals, so one person may say something to another that sparks a completely new idea.
The Five steps to Generating Creative Ideas: The Creative Process
Preparation
Incubation
Insight
Evaluation
Elaboration
Preparation
The background, experience, and knowledge that an entrepreneur brings to the opportunity recognition process
Incubation
The stage during which a person considers an idea or thinks about a problem: it is the “mulling things over” phase. Sometimes it is a conscious activity and sometimes it is unconscious.
Insight
The flash of recognition when the solution to a problem is seen or an idea is born. It is sometimes called the “eureka” experience. In a business context, this is the moment an entrepreneur recognizes an opportunity.
Evaluation
The stage of the creative process during which an idea is subjected to scrutiny and analyzed for its viability.
Elaboration
The stage during which the creative idea is put into a final form: the details are worked out and the idea is transformed into something of value, such as a new product, service, or business concept.
