Description
The purpose of this assignment is to demonstrate your ability to identify and present
a compelling “pitch” for an idea for a potential venture.
Each student is required to prepare a maximum of 6 Presentation Slides with up to
250-words of written presentation notes per slide to “pitch” (explain/justify/test)
their idea to their student colleagues and consultant
Unformatted Attachment Preview
Some Hints of
How to come up with
Great Ideas
Rules
1. There are no bad ideas!
2. For Ideation purposes there are no limitations to
consider.
3. You don’t need to have expertise in the area.
4. Let your mind go wild!
5. Don’t forget your PASSION!
SOME GOOD IDEAS? ..Really??
WAYS TO GENERATE IDEAS
Develop a totally new product or service
• Where demand is unknown
Use your areas of passion, established skills or
knowledge
Identify something that needs improvement ,
innovation or invention.
Identify a niche that has not been addressed or a
problem that needs solving.
WAYS TO GENERATE IDEAS
1. Brainstorm
2. Word association (each student thinks of a word (match 2
words to develop a new idea)
3. Make my day better ( something that drives you crazy)
4. Mood board
5. Mind map
6. Pinterest research.
7. CANDO
James Bannerman’s CANDO exercise
GENERATING A BUSINESS IDEA
CREATE OPPORTUNITY
➔
Product / market innovation:
Incremental to radical
MARKET NEED
Burns (2014)
SPOT OPPORTUNITY
◆ Changes in
technology, law and
regulation, market
and industry
structures,
demographics,
culture, moods and
fashion
◆ Product / service
deficiencies
◆ Unmet demand
NEW IDEA TOOL USING “NEW VENTURE TYPOLOGY”
RADICAL
PRODUCT /
SERVICE
INNOVATION
INCREMENTAL
PRODUCT /
SERVICE
INNOVATION
EXISTING
PRODUCT /
SERVICE
Burns (2014)
New-to-theworld
industries
Disruptive
innovation
Incremental
innovation
Copy-cat
EXISTING
MARKET
Market
expansion
Market
paradigm shift
INCREMENTALLY
NEW MARKET
RADICALLY NEW
MARKET
NEW IDEAS and THE COMPETITION?
• When thinking about your idea, you must decide how
you will satisfy your customers.
• Do you need to offer them something new or enhanced
at the best price, the best product, or the best service?
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