Page 52 - 100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

holdinw. on ti n of weak signals just prior to the 1990

199.! recession. ilhey used the funds generated by these sakes

to buy bankrupt or market depressed properties that became

affable during the recession.

4/4. OPPORTUNITY SEARCHES

Active opportunity searches can turn up new situations and
new applications of current knowledge. You don't have to
be limited to traditional sources. Try something new, like
the manager who searches science fiction literature to find
ideas that are applicable to his high-tech business. Try sim-
ply reading about new trends and asking what this means to
your business.

TECHNIQUES FOR

RECOGNIZING PROBLEMS

Many people recognize that a problem exists when they have
failed to meet an objective or believe they may fail to meet
an objective. The purpose of most control reports is to pro-
vide such comparisons. People may recognize an opportu-
nity when they become aware that they could exceed their
objectives by choosing a certain alternative or taking advan-
tage of a situation.

Frequently individuals compare current performance with
prior objectives, prior experience, or last year's performance
in order to determine whether a problem exists. When they
see a difference between the current situation and what was
previously thought appropriate, they recognize that a prob-
lem exists.3

Fully describing current conditions is another way of being

able to recognize a problem or opportunity. Simply review-
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