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UNIT 1
               MODULE 2:  THE ENTREPRENEURIAL PROCESS (cont’d)


               CONTENT

               Steps in the Entrepreneurial Process:

               Idea  generation,  opportunity  identification,  business  concepts,  resources,  implementing  and
               managing, harvesting.

               1.      Generating Ideas

                       (a)    Methods  of  generating  ideas:  brainstorming,  focus  group,  check  list  methods,
                              problem inventory analysis, scenario thinking, the note book method, reverse brain
                              storming, Delphi methodology, Gordon method, free association.

                       (b)     Screening ideas and selecting among competing ideas.

                       (c)     How ideas are linked to opportunity.

               2.      Opportunity Identification

                       (a)    Changing demographics.

                       (b)    Emerging markets.

                       (c)    New technologies.


                       (d)    Regulatory changes.

                       (e)    Social changes.

                       (f)    Opportunity  evaluation:  market  issues,  economic  issues,  competitive  advantage
                              issues and management issues.

               3.      Business concepts

                       (a)    Definition/ description of a business concept.

                       (b)    Sources  of  business  concept:  New  products,  new  services,  new  processes,  new
                              markets,  new  organisational  structures/forms,  new  sales  or  distribution  channels,
                              new development paradigms.

                       (c)     Steps in developing a business concept from an idea.









                                  CXC A31/U2/13           12                                 www.cxc.org
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