Business Opportunities: Creativity and Innovation
Business opportunity begin with ideas developing in mind of a person. He has to be keen in identifying business ideas and determine which among them will become successful. The idea should have the purpose of improving the life of the people in the community.
Creativity and Innovation
The entrepreneur has an important task to do and this is to identify business opportunities. In this undertaking, he should have the ability to create and innovate ideas that will get the attention of the people around him. This idea must be unique in the sense that the product he is introducing is capable of answering the needs of consumer. Developing a new idea is a form of creativity which is original in nature. the introduction of mobile or cellphones is a product of creativity while the improvement which gives them their distinctive features are a form of innovation. Innovations, therefore, are new things done on an existing products or services.
If we are going to analyze the creativity and innovation of a particular product or service it should answer the specific need of the people in the area. This important need gives an individual a lead to enter into a particular business.
A prospective entrepreneur should not think too far in determining what business to organize. He has just to understand the problem of the area and determine what the needs are. An example of a community problem is the absence of water station in the locality. The people in the community have to go far to buy potable water. Since the problem is purchasing potable water in a far place, there is a need to bring the water right in the community. An entrepreneur can establish or open a water station in the community, thus making the potable water available to the people at a short distance.
Identifying the problems and needs of the community is called environmental scanning. Environmental scanning is studying the opportunities and risks in opportunity identification. The process needs an observation on how to bring the water easily to the consumers at the least expense.
In starting to manage a business, the best way in order to be successful is to have a systematic method of organizing and running it.
Creativity and Innovation
The entrepreneur has an important task to do and this is to identify business opportunities. In this undertaking, he should have the ability to create and innovate ideas that will get the attention of the people around him. This idea must be unique in the sense that the product he is introducing is capable of answering the needs of consumer. Developing a new idea is a form of creativity which is original in nature. the introduction of mobile or cellphones is a product of creativity while the improvement which gives them their distinctive features are a form of innovation. Innovations, therefore, are new things done on an existing products or services.
If we are going to analyze the creativity and innovation of a particular product or service it should answer the specific need of the people in the area. This important need gives an individual a lead to enter into a particular business.
A prospective entrepreneur should not think too far in determining what business to organize. He has just to understand the problem of the area and determine what the needs are. An example of a community problem is the absence of water station in the locality. The people in the community have to go far to buy potable water. Since the problem is purchasing potable water in a far place, there is a need to bring the water right in the community. An entrepreneur can establish or open a water station in the community, thus making the potable water available to the people at a short distance.
Identifying the problems and needs of the community is called environmental scanning. Environmental scanning is studying the opportunities and risks in opportunity identification. The process needs an observation on how to bring the water easily to the consumers at the least expense.
In starting to manage a business, the best way in order to be successful is to have a systematic method of organizing and running it.
