Creating and Starting

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Chapter
Creating and Starting The Venture
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Whats New About The New Venture?

• New Knowledge?- Human Genetic Structure
• New Technology?- How To Modify It
• New Products?- New Cancer-Suppressing Drugs
• New Services? New Tests For Cancer
• All Of The Above?- New System For Doing Business

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Sources of Innovation
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Impediments to Creativity

• Fear Anxiety
• Defensiveness
• Cultural Inhibition

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Organizational Hindrances To Creativity Process

• Stress On Consequence Of Failure
• Organizational Instability
• Excessive Rules, Policies, Relationships,
  Procedures
• Highly Centralized Organizational Structure
• Little Time Allocated To Thinking Experimenting

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Barriers To Creative Decision-Making

• Searching for one right answer
• Focusing on being logical
• Blindly following rules
• Constantly being practical
• Viewing play as frivolous

• Becoming overly specialized
• Avoiding ambiguity
• Fear of looking foolish
• Fearing mistakes failure
• Believing that Im not creative

• Searching for one right answer
• Focusing on being logical
• Blindly following rules
• Constantly being practical
• Viewing play as frivolous

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Sources Of New Ideas

• Consumers
• Existing Products/Services
• Distribution Channels
• Federal Government
• Research Development

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Methods of Generating Ideas

• Focus Groups
• Brainstorming
• No Criticism
• Freewheeling
• Large Quantity Of Ideas
• Combinations/Improvements Encouraged
• Problem Inventory Analysis

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Creative Process

• Preparation
• Investigation
• Transformation
• Incubation
• Illumination
• Verification
• Implementation

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Creative Problem Solving

• Brainstorming
• Reverse Brainstorming
• Brainwriting
• Gordon Method
• Checklist Method
• Free Association

• Forced Relationships
• Collective Notebook Method
• Attribute Listing
• Big-Dream Approach
• Parameter Analysis

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Invention Process
Technology Observation
Parameter Analysis
Creative Synthesis
Parameter Identification
Realization of Invention
Market Need Analysis
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Additional Sources of New Ideas

• Opportunity Recognition
• Product Planning/Development
• Establish Evaluation Criteria
• Idea Stage
• Concept Stage
• Product Development Stage
• Test Marketing Stage

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Determining Need

• Type of Need
• Timing of Need
• Competing Ways to Satisfy Need
• Perceived Benefits/Risks

• Price vs. Performance Features
• Market Size Potential
• Availability to Customer Funds

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Determining New Product Value

• Cash
• Outflow
• Inflow
• Net
• Profit
• Relative Return
• Compared To Other Investments

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Sources of Extraordinary Profit

• Monopoly Power
• Consumer Ignorance
• Cost Leadership
• Product Differentiation
• Innovation
• Speed To Market

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Stages of Innovation
Breakthrough Innovation
Technological Innovation
UN I Q U E N E S S
Ordinary Innovation
NUMBER OF EVENTS
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E-Commerce Startup

• E-Commerce Creativity
• Website
• Tracking Customer Information
• Entrepreneurial Company

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Checklist for Website Design

• Professional Outlook
• Credibility
• Functionality
• Characteristics
• Speed
• Ease of Use
• Customization
• International Orientation
• Browser Compatibility