A PRESENTATION ON

BUSINESS IDEA

(Entrepreneurial development)
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Ideas come from Environment

Basic thing required Identifying and Developing Entepreneurial Potential Identifying required Competencies.. EDIEntrepreneurship Development Institute of INDIA Located at ahmedabad gives standard formats and requirements.
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Competencies identified by EDI

1. Initiative 3. Persistence 5. Concern on high quality of work 7. Efficiency orientation 9. Problem-solving 11.Assertiveness 13. Use of influence strategies 15. Concern for employee welfare 2. Sees and acts on Opportunities 4. Knowing 6. Commitment to work contract 8. Systematic planning 10. Self-Confidence 12.Persuasion 14. Monitoring
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BUSINESS IDEA
CHANGE IS ONE OF THE IMPORTANT REASON Idea can be generated externally or internally. There are several sources of Idea generation. Ground thinking is about product/service. Trainer should help new upcoming entrepreneur to choose product or service for his business. Specific process should be followed
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Source of Idea Generation

SOURCE

INFORMAL

FORMAL

PERSONAL (Family/friends)

OTHERS (Newspaper/books) (journals/internet)

EDPs Trade meets Banks/Govt agencies

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BUSINESS IDEA GENERATION PROCESS

Can be done through BRAINSTORMING. 1. Changing needs of people due to constant change in culture and environment. 2. New usage of Existing Product or service. 3. Identify problem from the product people face in the given area.

BRAINSTORMING.
Brainstorming is a group creativity technique designed to generate a large number of ideas for the solution of a problem. In 1953 the method was popularized by Alex Faickney Osborn in a book called Applied Imagination.

Rules for BRAINSTORMING.

1.

2.
3. 4.

All Ideas are suggested and Welcome. No critical judgement is required. Quantity, not quality is important. Combination and improvement of Ideas is sought.

4 STARTING POINTS ARE.

4 POINTS SKILLS
AVAILABLE RESOURCES

PRODUCT/SERVICES NOT AVAILABLE

INSTITUTIONAL DEMAND
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Evaluation of idea

Establishing as good entrepreneur depends on choosing perfect IDEA. Dont persue on one idea. Find 5 to 10 parallel arrangements. Entrepreneur should weigh his intrinsic capabilities in finalising the Idea. Suggested ideas need to be screened to determine the perfection.
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SUMMARY.
Business Idea is the base of good entrepreneurship. One should have Brainstorming sessions to come up with good ideas whether being a product or service. rules should be followed regarding the Brainstorming ang it should be focused on its starting points.

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THANK YOU

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