New Venture Development
Creative Process
Assessment Process
Preparation & Launch
Market Entry
100
Identification & exploitation of previously unexploited opportunities
What is entrepreneurship?
100
Process through which entrepreneurs search, capture & refine new ideas that lead to business prospects.
What is opportunity recognition?
100
Advantages, limitations, uniqueness & opportunities
What is ALUO idea evaluation?
100
Long range view of the venture & developing the vision to guide operations.
What is strategic planning?
100
Strengths, Weakness, Opportunities, Threats
What is SWOT Analysis?
200
Innovation forcing established companies out of business.
What is creative destruction?
200
Incremental & Radical
What are 2 types of innovation?
200
Unique features, price/value, attributes, customer experience, convenience.
What are Advantages?
200
Divergence & Convergence
What are 2 modes of decision making?
200
2 characteristics of biz, aligning them vertically & horizontally to help place biz vs. competition.
What is Positioning Map?
300
Style, Skills, Staff & Shared Values
What are the soft S's from the 7S Model?
300
Is there a new way to do it? Can parts be rearranged? Can we put it to other uses?
What are questions to spur creativity?
300
Value proposition, target market, unique selling model, barriers to entry, market size, market growth.
What are some of the 14 questions to evaluate opportunities?
300
Probability for success increases, more effectively adapt to change
What are Reasons to Plan?
300
Integrated tactics used to connect with customers
What is Go to Market?
400
Content, Vocal & Visual
What makes up IMPACT?
400
Existing job/industry, business associates, similar business, friends or relatives, hobby/personal interest, market research
What are sources for innovation/creativity?
400
KIC
What is the Knowledge Industry Checklist?
400
What problem are we attempting to solve?, What obstacles? What blocks progress? How do we know we're on the right track? For what do we want to be known?
What is Strategic Vision?
400
KIC
What is Knowledge Industry Checklist?
500
For an organization to perform well, these 7 elements need to be aligned and mutually reinforcing.
What is the 7S Model?
500
Scan, expand, adapt, revise, create & harvest.
What is SEARCH?
500
Description of business, product/service benefits, industry/market analysis, management, financing.
What is Organizational Opportunity Proposal or OOPs?
500
For (target customer), Who wants (key need), The (name of product), That (what do you in fact provide) Unlike (key difference) Our Product (competitive advantage)
What is Elevator Pitch?
500
Bringing together all the commercial actions, marketing, sales, brand management, pricing to drive effort.
What is Go to Market?
M
e
n
u