Solution
Soumi answered on
Dec 14 2020
EIDE4019
EFFECTIVE IDEAS GENERATION
Executive Summary
Idea generation is effectively the way toward creating, making, and conveying beliefs, which are concrete, unique, or visual. Making a prosperous business along a successful idea generation is quite a lot more intricate than basically glomming onto the most present trend and moving comparable items. Development, innovativeness and creativity in the work environment have turned out to be progressively important factors of authoritative execution. The idea being discussed here is the production of incense sticks and vermicompost from used flowers in the temples. A number of idea generation techniques were utilised such as
ainstorming, reverse
ainstorming, SWOT to name a few, which eventually lead to the desired outcomes for the firm.
Contents
Introduction 4
Literature Review 4
Theories related to Entrepreneurship 4
Theories related to Creativity 5
Methodology 5
Application to Idea Generation and Development 6
Outcomes and Evaluation 7
Conclusion and Action Plan 7
Bibliography 9
Introduction
Generation of idea in business is imperative for the success of any organisation, leading to increased revenues and bottom line. Idea generation is basically an approach to effectively convey thoughts on a particular issue starting from the nascent stage up to the conceptualisation part. It primarily works in a group setting where a group of stakeholders aim to come up with an idea following a thought by thought approach. The article explores the research done on idea generation as a concept followed by interdependence of creativity and entrepreneurship. The article also discussed idea generation and implementation of a real life concept with the outcomes and the way forward.
Literature Review
Making a prosperous business along a successful idea generation is quite a lot more intricate than basically glomming onto the most present craze and moving comparable items. As stated by Hooshangi and Loewenstein (2016), it's tied in with expanding on something that has changed the manner, in which we live, and filling in holes to improve an even item or administration. Achievement joins an ideal mix of being on the bleeding edge of innovation in one's idea generation process and picking the patterns that are bound to stick.
The most gainful turn off thoughts and items are two stages from the first. One should figure out how to separate one's idea by giving a completely exceptional client encounter. As a business person, this idea is not a surprising bit of information, however how to do it is dependably a test. It tends to be done through item development, remarkable administration, patent secured innovation, or deliberately guided prized formulas. This is the reason copied items are hazardous, and never lead to a strong business.
As mentioned by Puccio et al. (2018), successful idea generation and in turn long haul accomplishment of an enterprising twist off is dictated by three variables— filling in the holes of new innovation, the planning of execution, and uncommon uniqueness of one's
and image. In the event that one can come up with an idea and fa
icate an organisation that connects to a cu
ent item or benefit and raises the client's involvement in a one of a kind and satisfying way, success is guaranteed.
Theories related to Entrepreneurship
A business visionary assembles a business and acknowledges the related hazard to make a benefit. While this definition fills in as a straightforward however precise depiction of business people, it neglects to clarify the marvels of enterprise itself. Various entrepreneurship hypotheses and theories exist, yet every one of them can be categorised as one of the five principle classifications. As supported by Frederiksen et al. (2016), financial hypotheses of enterprise will in general get huge analysis for not able to take into account to perceive the dynamics of business operating frameworks, disregarding the exceptional idea of innovative...