Professional Documents
Culture Documents
be defined as the
economic opportunity which
is within reach of the
entrepreneur and which will
provide him a desirable value.
Procedure in Determining
Best Business Idea
1.
2.
3.
Screening Generated
Ideas
Market
Feasibility
Positive indications: (1) stable and
sufficient demand (2) potential
competitive strength of the firm
Sources of Market Information (1)
Prior studies of the market or related
markets by the company (2) actual
poll of population samples (3)
negotiations with prospective
customers to solicit orders
Screening Generated
Ideas
Technical
Screening Generated
Ideas
Financial
feasibility - analysis of
financial prospects of the proposed
business idea
(1) income statement summarizes
revenues, expenses, and profits over a
given period
(2) balance sheet statement shows
planned or expected financial position
of the enterprise on a particular date.
(3) cash flow statement shows the
planned or expected cash sales and or
purchases.
Final Selection
1.
Final Selection
1. Status quo means all
business ideas listed passed
the adapted criteria
2. Shorter list means some of
the ideas generated were
eliminated
3. Zero listing means all
business ideas generated were
eliminated.
NEXT MEETING:
ORGANIZATIONAL CULTURE & CREATIVITY
Characteristics
1. Encouragement for creativity and risktaking
2. Rewards for creativity
3. Open communication
4. Allowance for errors
5. A climate for participation
6. Structural mechanisms that aid creativity
7. Training in the creative process
8. Flexibility
SEATWORK
Prepare
yellow pad
Unanticipated means or
Deliberate search
A Climate participation;
When somebody feels that the organization
espouses participation, that person will not
hesitate to make a contribution to the creative
efforts of the organization.
The firm will benefit from the good effects of
employee participation.
More bright ideas will be generated if
employees feel free to participate in the
creation of solutions to problem.
5.