SCIT3000 Lecture Notes - Lecture 2: Abraham Maslow, Economic Community Of West African States, Business Cycle

• School: University of Newcastle
• Department: Science and Technology
• Course: SCIT3000
• Professor: M A Z R U I

Document Summary

In lecture three we covered creativity and innovation. As a logical development from there, this lecture will focus on opportunity recognition and analysis. It is critical that an entrepreneur carefully evaluates the value of an idea before they invest in it. The lecture therefore introduces the concept of opportunity, windows and corridors of opportunities as well ad methods of feasibility assessment. By the end of this lecture, you will be able to: explain the sources of business opportunities, discuss concepts of windows and corridors of opportunities, identify the methods of opportunity analysis. Opportunity identification is one of the most critical stages in the entrepreneurial process. An opportunity has the qualities of being ----- durable, timely and anchored in a product or service which creates or adds value for the buyer or end user. According to abraham maslow, human needs exist at five levels with the most basic being the physiological needs and the highest level being the self-actualization needs.