An apparent way of generating profit through unique products or service that have not been previously exploited
Opportunity
Three characteristics of opportunity
Potential economic value
Novelty or newness
Perceived desirability
A prediction on the assumption that there is a market populated with enough people to buy your product or service
Value
Forms of value
Economic value - generate
Social value - address social need
Environmental value - preserve environment
What are the four dimensions of a framework that determines if an idea will have success
Innovation
Invention
Improvement
Irrelevant
The first step in creating and identifying opportunities. Opportunities start with thousands of ideas
Idea generation
2 pathways to opportunity identification
Finding approach - data is there, search it to find opportunities.
Building approach - opportunities are created, not found.
ways of finding opportunities
Active search - attempting to discover existing opportunities
Alertness - ability to identify opportunities in their environment
Prior knowledge - Pre-existing information gained
Pattern recognition - process of identifying links or connections between apparently unrelated things
The three processes from idea generation to opportunity recognition
Idea generation - creativity - opportunity recognition
Approaches to enhance creativity
Securing - sustaining them
Expanding - broadening idea
Exposing - being open
Challenging - Past failures for new encounters
A thinking process most commonly used to solve complex problems, navigate uncertain environment, and create something new that is new to the world
Design thinking
parts of design thinking process
*Inspiration - Si bossing ko
*Ideation - generating new ideas
-latent needs need we do not know we have
-Brainstorming
*Implementation - testing of assumptions
-prototyping
-experimentation
What is the AEIOU framework in identifying problem worth solving. Guided observation
Activities
Environment
Interaction
Objects
Users
