Business Opportunity Identification

This lecture explores the process of moving from ideas to business opportunities, emphasizing the visionary aspect of identifying opportunities and the components of a potentially profitable innovation. It delves into the distinction between ideas, opportunities, and inventions, highlighting the importance of alertness, prior knowledge, and cognitive flexibility in recognizing opportunities. The lecture also covers the qualities of an opportunity, factors affecting opportunity recognition, and methods for generating business ideas through trend observation and problem-solving. Tools for supporting creativity, such as brainstorming, morphological box, and analyzing the consumption chain, are discussed, along with the significance of asking the right questions and problem discovery exercises.