CAOT 31 Lecture 15:
11 Oct 2020
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Document Summary
Session 3 chapter 4 discovering a business idea . For the entrepreneur, creativity is an essential tool that is used to seek out a business opportunity, finding unmet needs in the marketplace or finding innovative ways of meeting these needs. Only winner" is a winning combination of creativity and entrepreneurship. All other quadrants fail to achieve their full economic or commercial potential. In the struggler/hard worker" quadrant, there is a firm struggling with too many wasted ideas. It lacks an entrepreneurial orientation with the ability both to see the commercial application of the idea and to exploit it. In the copier/hard worker" quadrant is a firm that lacks creativity but can at least copy and perhaps improve on the creative inventions coming from other firms if they have a commercial application. The copier/stagnator" quadrant lacks broth creativity and entrepreneurship, and are certain never to grown and indeed their very survival may be questioned.
