DEMISTIFYING TERMS

Idea and Opportunity

Industry and Market

Creativity and Innovation

Invention and Discovery

 MYTH 1 MYTH 2
I N N O VAT I O N I S THERE IS A COMMON
EPIPHANIC S T R AT E G Y TO
I N N O VAT I O N .

MYTHS AROUND
MYTH 3 INNOVATION MYTH 4
Y O U N E E D T H AT I N N O VAT I O N I S A
G R E AT B I G I D E A TO L O N E LY VO C AT I O N
WIN AND REQUIRES
MYTH 5 ECCENTRICITY
ONLY RADICAL IDEAS
QUALIFY AS SUCCESSFUL
I N N O VA T I O N
 Business Innovation

IDEAS

OPPURTUNITY

BUSINESS INNOVATION

I2O MAP
OPPORTUNITY ANALYSIS

 Entrepreneur should make

“identifying and analysing OPPORTUNITY
opportunities” as the starting point SIGHTING
of business.
 Opportunity selection process is
made of two stages : OPPORTUNITY
 Opportunity Sighting:
Opportunity is something that ANALYSIS
arises in the market place as a
result of some action or change
inn a social domain. OPPORTUNITY
 Opportunity Evaluation: EVALUATION
Evaluation of opportunity of
which business is to be based.
OPPORTUNITY SIGHTING
 OPPORTUNITY
EVALUATION SIEVE

OPPORTUNNITY EVALUATION SIEVE

OP1 OP 1

Once we are aware of the sources of

opportunity , a large list of OP2
opportunities may present it self.
When face with multiple OP3
OP5
opportunities , we use the OP4
opportunity evaluation sieve to select
OP5
the one that suits best.
This is a simple tool designed to help OP6
an entrepreneur quickly evaluate the OP7
OP7
value of an opportunity that has been
sighted
 Alignment with personal
interests ?
Alignment with personal values
Entrepreneur’s ?
Perspective Personal passion ?
Adequate skills and resources ?
Personal Ambition ?
Risk Propensity ?

Solve real customer need ?

OPPORTUNITY Customer’s
Adequate customer sizing ?
Value proposition ?
EVALUATION Perspective Cultural perspective ?
Socio-economic perspective
SIEVE ?

• Complexity of Challenge ?
• Nature of Competition ?
Business or • What would be the sustainable
Industry Compt. Advantage ?
Perspective • Predicted profit ?
• Working Capital Requirement ?